Re: Bankruptcy

I see that you question has already been answered, If you need to consult a local attorney feel free to give my office a call.

Re: Bankruptcy

You would probably qualify for a chapter 7 bankruptcy, so you would not have to make any payments or pay any interest, unless you are trying to save a home, in which case you would have to pay back what you owe in order to keep your house from being sold at a foreclosure sale. Social Security income is exempt from a judgment. However, bank accounts are not exempt. So, if your check is deposited into your bank account, your creditors can take it. You would have to file a claim of exemption form with the court in order to get your money back, but in the meantime, your bank account would be frozen, and should you not file your form in the time required or should you miss your court date, then you would still lose your money. So, it might be worth it to file a chapter 7 if for nothing else than the peace of mind it would give you.

Re: Bankruptcy

No, that is incorrect. If you receive a discharge in bankruptcy, you do not have to pay anything further on your dischargeable debts. On the other hand, if you have no assets and your only income is social security, there's nothing your creditors can get from you anyway. If you would like a free phone consultation, please contact me to schedule an appointment.

Re: Bankruptcy

In addition to what Mr. Markus says, your residence probably wouldn't matter, as long as you maintain a residence in CA for the greater part of the 180 days that precede your bankruptcy filing.