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should i file for bankruptcy

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Anonymous
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should i file for bankruptcy

i have a fico score of 428 and 21 items that are over 120 days past due and 3 items in court all about 30000 and was layed off for almost a year is bankruptcy the best option. i dont make enough money to repay anything and only 23yo.

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Anonymous
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Re: should i file for bankruptcy

Hi tcates87,

 

Welcome to the forums - glad to have you here.

This is a great place to get good solid info - so I'm glad you've posted.

 

The very best way to determine if filing BK is appropriate for you, is to make an appointment for a free consultation with a qualified BK attorney.  I recommend meeting with 2 or 3, ideally.  You will gain a lot of insight and information and will know if it's a best fit for you.  If BK is the right step, you'll also find which attorney you feel most comfortable with.

 

Have all your financial info concisely listed on a page or two when you go in.  Take notes if you like.  Ask questions.

If you can, go into the library or bookstore and read some basic info on BK (BK for Dummies type books).  You don't have to spend 100's of hours, but do a little reading so you have a basic understanding, if you have the time.  Even if you don't choose to do any personal research, do call and make the appts. for the free consults with attorneys.  You'll find it supremely helpful.

 

Best wishes to you as you move forward!

Message 2 of 4
JM-AM
Valued Contributor

Re: should i file for bankruptcy

Have you tried a repayment plan with the creditors/lenders?

 

Are any of the past due School Loans?

 

The first thing you have to realize is how you ended up in this position to begin with. The next thing to realize is how are you going to move forward and not put yourself in this position again. 

 

Filing Bk is an option and a choice, and considering your circumstances it may be best. Filing Bk isn't free so if you are still unemployed and have no income how do you plan on paying for BK? Some lawyers will offer a payment plan, but being unemployed and your payment history it would not be likely.

 

 

Good Luck
May all your dreams and wishes become a reality!
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Anonymous
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Re: should i file for bankruptcy


@Anonymous wrote:

i have a fico score of 428 and 21 items that are over 120 days past due and 3 items in court all about 30000 and was layed off for almost a year is bankruptcy the best option. i dont make enough money to repay anything and only 23yo.


I wouldn't hurt to seek the advice of a qualified bankruptcy attorney.

 

Keep in mind, though, that student loans and child support are generally not dischargeable.

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