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I think I need to file bankruptcy?
Anonymous7 views4 answers
I think I need to file bankruptcy. I currently owe 15,000 in hospital bills, 1,000 in misc debts (i owe the local power company and tmobile) and I just found out my license is revoked for an accident where I am being sued for another 22,000. I am unemployed except for some freelance work where I only make 100-200 a month. I am single, living off of family because I can't get a car without a job and can't get a job without a car (I live where there is nothing for at least to miles that I could even walk to) and now I find out that I don't even have a license! Is bankruptcy my best option? and how much does chapter 7 bankruptcy cost?
I figured I need chapter 7 instead of chapter 13 because I have no income, and even when I was employed full-time I still made less than 30,000 a year.
Thanks
Both of the answers supplied already are correct. However, your problem does not stem from debt. Your problem stems from other issues including a lack of income. You are currently most likely judgment proof. That is nothing to take from you. Moreover, you may incur more debt before your situation turns around. Bankruptcy is most effectively used to wipe out old problems, but it does not prevent new ones. Use your limited income to better your situation and get your feet under you. If someone comes to collect, show them that you have nothing. If you re summoned to court for a periodic payment hearing, see a Bankruptcy lawyer right away. Bankruptcy may wind up being a great solution for you, but you may not be ready yet. A free initial consultation with a bankruptcy lawyer in your area may help you decide.
Chapter 7 sounds like a very viable option for you based upon the situation you present. Presuming that the auto accident was not based upon use of drugs or alcohol, it sounds like you could discharge all of the debts you discuss and get the fresh start you need. As for costs, there is mandatory credit counseling (around $20--30). the filing fee ($335) and attorney fees which can range based upon your region (usually $1000 or less)
Even if you want to file your own case, it is still worthwhile to present all of your facts to an attorney just to make sure. By using the Find a Lawyer function at the top of the page, you can find many attorneys who offer free or very cheap initial consultations. Good luck!
James Richard Cook IIDivorce / Separation LawyerKingsport, TN ·
Based upon the facts provided, a Chapter 7 filing may be an option for you. The filing fee is $335 and can be made in installments. Additionally, you'll be required to do a credit counseling course from an approved credit counseling agency which cost around $25. You should seek a consultation with a lawyer in your area to better assess your case. Best of luck to you!
