Q: My debt to income ratio is out of control student loans and medical bills should I file for bankruptcy
I'm 28 my credit score has tanked $55000 in student loans and 3000 in medical bills and other chargeoffs for credit cards. My current annual salary is $36,000. If I file for bankruptcy what chapter would you recommend??
A:
You would file a chapter 7 to discharge your debts. However, the student loans are probably not dischargeable, so you need to decide if filing bankruptcy for the $3000 medical bills plus whatever credit card debt you have it is worth it for you.
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