Legal Question in Bankruptcy in Massachusetts

bankrupcey

i'am 24 yrs old, and owe about 10,00000.00 in various credit card debt. I only make $8.25/hr, have not been able to make much money; I own nothing; but have a small student loan on hold, should i file chapter 7; also i have a court hearing date on 3/23/07. help!!! I have considered debt consolidation, but my parents feel that i should inquire about bankcruptcy options. I need a new start in life; I was young and foolish at the time, but now with interest rates and fees climbing higher I don't see me ever catching up with a $8.25 rate of pay. What are my options if any?


Asked on 3/12/07, 11:06 pm

2 Answers from Attorneys
Richard Ravosa Law Offices of Richard S. Ravosa

Re: bankrupcy

Your options are:

1. Pay the Debt

2. Ignore the Debt (not a good option)

3. Settle the Debt

4. Consolidate your debt.

or

5. File Bankruptcy and erase your debt.

You are right at $8.25 it would be hard to catch up as interest rates are climbing and some are as high as 32.24%

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Answered on 3/15/07, 9:36 pm
Dmitry Lev The Lev Law Firm

Re: bankrupcey

Feel free to contact my office for a free bankruptcy consultation.

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Answered on 3/24/07, 1:36 am


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