Elizabeth, NJ asked in Bankruptcy and Identity Theft for New Jersey

Q: Should i file for bankruptcy at 20?

Hello! I have some credit concerns. Im 20 in NJ and I have very bad credit. This is due to when i was younger my mom would use my social security number for accounts and didnt pay them off. So now that Im older, i have much debt i cant get off and Im going to pay for. Does anyone know how to get this off? Should I file for bankruptcy? How will that affect my life since Im so young? Thank you for your help!

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3 Lawyer Answers
Michael David Siegel
Michael David Siegel
Answered
  • Bankruptcy Lawyer
  • New York, NY
  • Licensed in New Jersey

A: It will depend on many factors. Speak to an attorney.

Stuart Nachbar agrees with this answer

Stuart Nachbar
Stuart Nachbar
PREMIUM
Answered
  • Bankruptcy Lawyer
  • Livingston, NJ
  • Licensed in New Jersey

A: It really depends on how much and if you can honestly get out from under on your own within a year or so. Also remember it is on your credit for seven to ten years. Costs around 2500 plus filing fees.

Leonard R. Boyer
Leonard R. Boyer
Answered
  • Bankruptcy Lawyer
  • Clifton, NJ
  • Licensed in New Jersey

A: To properly answer your questions and address your concerns, the best way to handle this is with an in person consultation with an experienced bankruptcy attorney.

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