I have credit card and other
unsecured debt of about $40,000 or
more. I have not been able to pay on
these bills in almost 2 years. Most of
this was due to divorce. I only have a
couple of collection agencies calling
me, however there is one saying
they will sue and put a lien on my
house. Would bankruptcy be for me?
I have consulted one attorney and do
not have money for the fees. Help!!!!
1 Answer from Attorneys
Most likely a chapter 7 bankruptcy can get rid of the $40,000 in unsecured debt. Whether chapter 7 is right for you is a question that depends on lots of details, such as your income over the last 6 months, you normal expenses, and whether you have substantial equity in the property you own.
The law does not require that you have and attorney to file bankruptcy, but the process is pretty complex, and mistakes can cost you big time. If at all possible, you will be better served in the long run by making sure your bankruptcy is done right, and usually this means getting an attorney.