Q: Filling chapter 7 to discharge 70K debts as an international student. Please advice?
I am a PhD Student on F1-Visa status. I have debts of 70K (Credit cards 50 K, Personal loans - 9K and Car loan- 11k) over the period of 5 years credit history with SSN. I lost money in stock trading over 140K last 3 years. Currently , I don't have any job and doing my PhD. Please advise how to file a chapter 7? Will bankruptcy filing in VA state affect my future immigration status (Greencard etc)? Please advise . Thank you
A: You really need a competent bankruptcy lawyer to help you file. Filing should not affect your immigration status.
A: You may file without being a permanent resident. It could affect your chances of getting permanent residence if it is deemed to be due to "bad moral character," but if you can show you thought the stocks would pay off and why (keep any market reports/trend reports you used to invest) then it's not too likely they would view it that way. It's more if you run up debts and then bail on them.
It is worth your while to get a consultation with a member of the AILA or a Certified Immigration Sepcialist under the Pa. Court program for certification in specialties.
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