Q: Lost income from job. I have about 70, oo00.00 debt this includes 50, 000 owing to IRS. 1 car, 25,000.00 I'd like to
3500.00 credit cards
A:
Hello,
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 good option for you. It is always best to have a private consultation with a bankruptcy lawyer. Most of us offer free consultations and most of us also provide some guidance in the event you choose to forgo bankruptcy.
I hope this helps.
Thank you,
Aaron
Theodore Allan Greene and Peter Maurice Lively agree with this answer
A: What is your question?
A: Not sure what information you are requesting. Ana analysis of your income and monthly expenses as well as assets must be done to provide options for you for dealing with the debt. In terms of bankruptcy, it may be a chapter 7 or chapter 13 payment arrangement. Not all taxes are dischargeable so that is a key issue to analyze. I urge you to locate an experienced bankruptcy attorney that can consult with you and provide an analysis of your options. This is not a straightforward question that can be answered on this site.
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