I have credit cards debts of $16000 and no means of paying. Can I go bankrupt?
Following a car accident and subsequent stroke, I lost a good job and also the medical insurance. I had to borrow money to pay my medical bills and hoped to get better, but never did. I am now on disability and being hounded by the bank. Can I go bankrupt and what will it cost? Can I do some of the paperwork to reduce or avoid high legal costs?
Attorney answers (4)
Yes you can save some fees by doing some of the work yourself. I have a method which allows my clients to input their data on line. Once the data is inputed I download the data directly into my petition preparation software. If the client is willing to use this method the client is doing a lot of the data entry. Therefore in these cases I can charge less than many bankruptcy firms. The great thing is most clients actualy find this method preferable to filling out a paper form anyway.
I'm sorry to hear that you are being hounded by the bank. Most of my prospective bankruptcy clients are being bothered by creditors. The creditors are calling, writing letters and making threats. Some of my clients are afraid to pick up the phone because it might be an aggressive collection agent. Once you hire me the next time a creditor calls you simply tell him or her: "I'd like to speak to you but I have retained Harley A, Feinstein, Attorney at Law. Mr. Feinstein has instructed me not to speak to any creditors. Call Mr. Feinstein." Then hang up. In other words, as soon as you hire me the creditor harassment ends.
Now, legally speaking, the creditor is not breaking the law if he or she still calls you until we actually file the petition for bankruptcy. But as a practical matter the creditors usually stop calling you once they hear this. They usually put your file on the back burner because they know they aren't ever going to collect any mony on your case. And if they call someone they call me instead of you.
Of course, the most important benefit of hiring me is to help you achieve your goal of canceling your debts in order to get the legal relief that only bankruptcy provides.
3 people marked this answer as good
Jeffrey Daniel Larkin
Reputation Level 15
Answered over 2 years ago.
Bankruptcy Attorney in Carlsbad, CA.
Sounds like Chapter 7 is the way to go for you. I am a bankruptcy attorney in San Diego and would be more than happy to assist you for a reasonable fee.
LEGAL DISCLAIMER
Mr. Larkin is licensed to practice law in CA. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.
1 person marked this answer as good
James Falk Lewin
Reputation Level 4
Answered almost 3 years ago.
Bankruptcy Attorney in San Diego, CA.
Although you can do the paperwork yourself, the bankruptcy system is complicated and you should seek the assistance of a qualified bankruptcy attorney.
3 people marked this answer as good
Robin Mashal
Reputation Level 16
Answered almost 3 years ago.
Litigation Lawyer in Los Angeles, CA.
Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.
Unless you are familiar with the Bankruptcy laws and court rules, it would be best for you to use the services of a bankruptcy lawyer. Keep in mind there may be a limit in discharging recently incurred credit card debts.
Other answers (3)
Lawrence
Answered by a user, almost 3 years ago.
I am about 6 months ahead of you; only I have 50K in credit cards. I also think I now know almost as much as some of these attorneys after studying for the last 6 months. What they charge $2500.00 is ridiculous. If you don't have money, how can you pay that. For only 16K, I would talk to the CC people about hardship. also mention you may have no choice regarding bktcy if you are pressed to pay. If they are still JERKS, you can do the BKtcy paperwork. Its not that hard. Your Regional Bktcy Court has a website that walks you through it. The big deal is your income. Must be under 52K for 2 people for Chapter 7. Just take it slow and do it by the numbers. Pull your credit reports often to see where you stand. If nothing bad is there, begin educating yourself.
I am about finished with my own petition and almost ready to hand it to the courts. Just make sure you triple check or they might kick it back.
Good Luck
6 people marked this answer as good
roythomson2002
Answered by a user, almost 3 years ago.
My age is 57. The credit company is owned by a bank.
4 people marked this answer as good
Kathryn U. Tokarska, Esq.
Answered by a user, about 2 years ago.
I respond cautiously with a yes you can file a chapter 7, but would want to know more details to be certain. One issue that comes to mind immediately is do you have a chance of recovery from the car accident and if so how much? I also have concerns about the fact that you don't have medical insurance. I am reluctant to file BK on a client who has no means to pay for medical services, especially when there are existing medical problems. If you file and then incur more medical bills, you will be back to where you started. For most people the purpose of filing bankruptcy is to wipe the slate clean and start over and/or to protect assets. Other than the collection harrassment, I don't know if you have any of these concerns. Please be aware that under the Fair Debt Collection Act, you can write your creditors a cease and desist letter eliminating telephone contact. After you do that, the creditors can send letters but not call you. This doesn't mean they will comply, however, you can file a suit aganst them if they do. I strongly encourage you to speak with an attorney, but find someone who wants to give you candid advise, not just collect legal fees. Free consultations are customary, therefore you can get second and third opinions.
The fee charged would depend on the complexity of your case, number of creditors, whether you own real estate and have other secured debts. You should be on the lower end of fees because your income source is easy to deal with and you are more than likely below the state's median income for the household. This means less work in your petition. The legal fee is negotiable and you can always offer less than what is proposed by the attorney. One way to make things easier on your attorney is to provide all of the necessary documents that are requested in an organized and timely fashion. I spend much less time on a petition when I have everything I need in front of me then when people deliver the documents in a piece meal fashion.
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