Is this for me?

[Mestizo]

Hello everyone a little about my self, I'm 26 years old and have 2 kids ages 6 and 1, I'm currently employed at a distribution center not making much at all haha.

I'm about 60k in debt with mostly medical bills (ER Visits, Gall Bladder surgery) as I have never had medical insurance, also I have 1 old cc debt of $800 from HSBC ( best buy) from when I was 18 and 2 from Verizon and t-Mobil.
Also a sallie Mai school loan that I owe 14k on but have been paying monthly on time for the past 2 years.

I have made my fair share of mistakes and and really paying for it now. My goals are to hopefully one day be able to buy a home for my family amongst other things ( car, nice things in general)

My question is fairly simple, is filing chapter 7, 13 for me? Is there a way to get out of this hole I put myself in or am I forever doomed to paying out of pocket for every little thing. I'm clueless on the process and would love to be educated but the experienced! Thank you!!

William

[0REDSOX7]

Only you can decide if a bankruptcy filing is for you. With that being said, it's not as cut and dry and it is or it isn't.

A lot of questions have to be answered. What are your assets. What do you want to keep. Can you afford a lawyer. What are your states rules.

Based on your initial statement, I would say it may be for you, but only you, your family and attorney (if hired) and make that decision.

Best of luck.

[ezdriver]

From the limited information you posted, my opinion is that you seem like a good candidate for a Ch7. Please consult a bankruptcy attorney who will hep you work through the various rules and requirements for filing a bankruptcy petition. Contrary, the rules, requirements, means test and trustee will ultimately decide for you.

[Mestizo]

Thank you for responding guys I do appreciate just a little more info the only thing I own is a car that's paid off and a cell phone and a few other small items that according to a counselor my net worth is only $3000 I do plan to see an attorney that said the cost is about 1400 for the filing and his fees, does this sound about right? I want to make sure I see the correct person for this situation. I'm not married so it would just be me filing. Thanks again for the help!

Wiliam

[0REDSOX7]

Depending on your states exemption limits, you may be able to keep your vehicle.

My attorney fee was around that, and included the filing fee as part of it. So if that's the case with your attorney, I would say you're in good shape.

[Mestizo]

Ok thanks, I live in California if that helps any. I'll look around for the exemption limits but not sure what I'm looking for haha

[StartingOver10]

Here is a link for some California BK info http://www.legalconsumer.com/bankruptcy/bankruptcy-law.php?ST=CA

It is a good idea to read, study and understand enough about the process so that when you interview for BK attorney's you know which attorney to hire. For example there are BK attorney's that routinely work with creditors and not debtors, yet they will take on a consumer debtor case. Not a very good idea IMHO. You want an attorney that represents debtors and knows the system from your "side". You want to be able to ask the right questions of the attorney and understand the answers as they impact you and your case.

Another very good souce of general info is the NOLO Ch 7 series http://www.nolo.com/legal-encyclopedia/chapter-7-bankruptcy

When you have an understanding of what Ch 7 is and how it works, then interveiw several attorneys. There are differences between tuypes of attorney's. For example, a large firm that advertises on TV or bus benches is generally known as a 'mill type' firm. The goal of a mill type firm is to sign up as many people as possible and not really give any individual attention. Their other goal is to have you sign up as a Ch 13, then fail to complete the BK and convert you to a Ch 7 and pay another fee from what I have seen. So be very careful. You want to know what the criteria is and have a complete understanding of the capability of the attorney you are hiring for this very important step. Your attorney makes a huge difference in the process IME.

[shineshawn]

Hey!

As per my concern you should hire an attorney for yourself. A  lawyer will know what he can do. My uncle too  had a case of bankrupcy and he  hiered an attoruney. You can get other information on bankruptcy for free before you decide on anything. They will advise you better.Good luck

Edit: removed advertising spam --Rev

[mskarma]

I am not sure how old your medical bills are, but have you contacted to hospital to see if you qualify for charity care?  If you do, they will write a good portion of your surgery off or all of it.  If you do not have a large income and have hospital bills this is usually an option.

[RobStumpfEsq]

You are probably a good candidate for Chapter 7 BUT a huge caveat is that you should seek out a local attorney for a consultation to go over your options.     

good luck

Rob Stumpf Esq.