Some of your IRS debt may be dischargeable in bankruptcy. Other debts such as credit cards, personal loans, and medical bills are typically dischargeable. You can also keep your car in bankruptcy. If you lost income and are having trouble making payments then bankruptcy may be a...Read more »
It depends on your case but usually most recently filed tax returns, 60 days paystubs, retirement account statement, life insurance policy, vehicle payoff statement if financing, vehicle lease if leasing, and at least 1 month bank statements. However, this is not an inclusive list and each case is...Read more »
Bankruptcy could be a good choice. You also want to look at your annual income and property you own. If you do not own a house and make little income then a Chapter 7 Bankruptcy may be a good move for you. Chapter 7 Bankruptcy erases most of your debt in about 3-4 months. It is...Read more »
I have managed to get about 6 credit accounts back to a good, current status, but have about 7 getting worse everyday. Including two loans. They probably total about $25000 at the moment, and I am making about $700 a week and am not sure I can save everything. My credit has gone down to 500 and... Read more »
If you are drowning in debt and you have 7 credit accounts getting worse everyday then I would suggest looking into your bankruptcy options. Bankruptcy wipes out most debt and a lot of times bankruptcy allows the person to keep everything they own. Life after bankruptcy is possible and many people...Read more »
In the meantime, I am now going through a divorce, which has pushed me deep into debt and I am now considering bankcruptcy. I would however like to keep my student loans so that I can finish school. Will the student loan company drop me if I was already approved and I'm in the middle of school? Or... Read more »
I have not had a school drop someone because they filed bankruptcy, at least with my prior clients. Bankruptcy would wipe out your unsecured debts, however, as you may know most tax debt and student loans are not and you would still pay those back. You may be able to do a chapter 7 bankruptcy and...Read more »
I live in California. I rent a room somewhere else while my husband stays in the house we rented. Do to his behavior I decided to leave. We are not legally separated, but don’t currently live in the same county together. My income by myself would get me chapter 7 to remove crushing credit card... Read more »
But apparently, he did not. He just keep talking he will pay me back, he will work hard, but nothing paid back. I let him use my credit card for daily life, but he used for sports betting without my consent. He kept promised me he won't do it again but it is still happening and he even do cocaine.... Read more »
I suggest you look into your bankruptcy options. Bankruptcy wipes out most debt including credit card debt and other high interest unsecured debt. Bankruptcy awards the debtor a fresh start and a second chance to rebuild credit and financial wealth. Bankruptcy provides great relief for those honest...Read more »
My total debt is 30K to multiple creditors, 3 personal loans. I can not afford to pay my monthly payments to ALL of them for NOW. I am WILLING to pay but I can not promise when. Do I need to file for bankruptcy? Please advise. Thank you.
Maybe. What is your annual income? Are you married? Do you own a house or rent? We would want to know the answers to these questions and some others to better tell you if bankruptcy is the right choice. There is a chapter 7 bankruptcy option available for some qualified individuals who can...Read more »
Maybe if it was a credit union. Many credit unions have voluntary security interests written in their credit card agreements that attach the credit account to one of their deposit accounts such as a checking or savings account. This tends to be more of a credit union thing and not so much with bank...Read more »
I just became a cancer survivor still following up at the cancer center. I was on FMLA july 10 2018 thru Jan 2019.. return to work on Feb 2019 and just started a second job this month of May 2019. I'm struggling financially. I have my car and is behind on payments car insurance. Utilities..and... Read more »
Generally, you would want to gather your most recently filed tax return, 6 months of paystubs if applicable, and complete a credit counseling course that usually takes about 1 hour. If you would like to discuss more and how the process works I suggest scheduling a consultation with a...Read more »
Generally, it depends on your household size. However, the Means Test has many factors that may qualify a high income earner for a chapter 7 bankruptcy filing. Although the Means Test may appear to be a fill in the blank form, there is much law behind it. A thorough analysis of your financial...Read more »
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