Q: Can I file bankruptcy on loans made to me from a Finance Company? I think its around $15,000. Or go with debt cons?
I have a few Finance company loans with outrageous interest I need help deciding between bankruptcy or consolidating?? I have 1 income 4 kids I work full time and bring home around $700 weekly. I do have a car payment I wouldn't want to put that in with the bankruptcy or debt cons. If I filed either one could I still keep my car as long as I still make the payments? What do I do? I also have around $5,000 in credit card debt. I am all on my own I have no family to help me I need advice. I am 36 will I be finanicaly ruined for life if I file bankruptcy or debt cons? I don't want to ruin myself forever. I just need help I'm drowning in debt. What will happen if I file for bankruptcy or debt cons? How will I know I would qualify for either? I'm so confused.
A: The best way to resolve your confusion is to make an appointment with an experienced bankruptcy lawyer in your area. Many bankruptcy lawyers offer free consultations. Bankruptcy does not ruin you financially for life, many individuals who file are able to reestablish their credit relatively quickly, and the bankruptcy only lasts on your credit report for 10 years. You cannot pick and choose which debts you file on; all your debts must be listed. However, the vast majority of people who wish to keep their vehicle in bankruptcy are able to do so. An attorney who evaluates your entire situation will be able to tell you what property you can keep and what the impact of bankruptcy will be on you.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
