Can i file bankruptcy now ?

hi,

i owe around $15,000 credit card debts , can i file bankruptcy now?

i don%26#039;t have a house now and already sold out the car longg time ago.

1-what will happen to mine credit card debt after file bankruptcy?

2-how much i need to pay to do this with lawyer?

3-what will happen to mine credit file?

thanks

Can i file bankruptcy now ?

It%26#039;s not worth filing bankruptcy for $15,000 of debt. It would be better for you to work an extra part time job to pay it off.

Can i file bankruptcy now ?

Each state is different. If you%26#039;ve used your cards within the last 90 days, you probably can%26#039;t, but you%26#039;ll have to talk to your attorney about it.

If you file bankruptcy, you can%26#039;t discharge the credit card debts anymore. You%26#039;ll be put on a payment plan to repay the debt.

Each attorney is different. We paid $600.00 to file.

Your credit will go down the toilet.

Can i file bankruptcy now ?

Bankruptcy will be on your credit for 7 years regardless if you file chapter 7 or chapter 13. On chapter 7 all of your debts are dissolved, you don%26#039;t make any payments. However, there are stipulations on your property, like you can%26#039;t have a brand new car, etc. On chapter 13 you make payments, usually about 2% of unsecured credit. Lawyers are all different. Usually (in Oklahoma) it is about 500-800 down and the rest is payed with the creditors in Chapter 13, or you have to pay all of it up front in chapter 7. Think it through seriously. It will affect your ability to get a house in the future. Good luck!

Can i file bankruptcy now ?

There is no way I could in good conscience advise you to file bankruptcy. Get on a really tight budget and work an extra job to pay as much as you can against your debts.

Tight budget = No cable, no cell phone (maybe a prepaid phone for emergencies only), dial-up Internet only, and no eating out.

Can i file bankruptcy now ?

You can file bankruptcy when you have:

Unemployment: Large medical expenses; Seriously overextended credit; Marital problems, and;

Other large unexpected expenses.

Since your debt is pretty much low it is advisable that you try to get some job and pay the debt. Other wise when you file bankruptcy the lawyer can charge anything from $500 to 1500 and the thing will remain on your credit history for at least 7 years and your credit rating will recieve a good beating. So weigh the pros and cons before filing. It may look like an immediate solution but the repurcussions are big..

For more articles on bankruptcy visit http://www.card-gallery.com

Can i file bankruptcy now ?

So many people think bankruptcy is a lazy way out of debt, for some it is the only solution. I have delt with good people who had to go bankrupt because of some sort of change in their financial situation. It is hard to judge someone when you have not walked in their shoes. Your creditor will receive a tax break for the debt that is discharged so it is not as if they are getting Nothing. Your credit will take a hit but credit is very subjective so it will rebuild time. The laws are such that only the judge can tell you if you can file 13 or 7. Just know that for the next few years if you buy a car it will cost you somewhere around 15 to 20 % in interest rates because of the bankruptcy. After 10 years the negative credit history will be removed and you will be starting over. There are alternative such as debt settlement. Everything you do except pay your debt 100% Will hit your credit temporarily.

Kourtnie Donihoo

The EDA Group

1 866 605.0753