Legal Question in Bankruptcy in Texas

Could I file Chapter 7 Bankruptcy

My wife and I are totally disabled. Our only income comes from SS. I recieve about $1400, my wife about $485 and we recieve about $900 for our 12 yr old son.Due to severe illness (I am on a liver transplant list with the increased cost of medicenes and bills not covered by insurance we have used our Credit Cards to buy medicene and food over the last 2 years we have now overextended ourselves and owe about $40,000 in credit cars debt. Our home is valued at $13,500 witha $4500 balance and an old car paid for.

Can we sucessfully file for Chapter 7 Bankrupcty?


Asked on 3/07/02, 12:36 pm

2 Answers from Attorneys
Cole Fulks Cole Fulks, P.C.

Re: Could I file Chapter 7 Bankruptcy

Based on the facts presented, it sounds as though you are a good candidate for Chapter 7 bankruptcy.

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Answered on 3/07/02, 12:43 pm
Andrew Nichols Law Office of Andrew B. Nichols

Re: Could I file Chapter 7 Bankruptcy

Short answer -- you certainly can be successful in a Ch. 7 case.

I STRONGLY RECOMMEND YOU FILE. You and your family deserve a fresh start. All of your medical bills and credit card debts would be "discharged" (bankruptcy term which means eliminate or wipe-out). Your home and your car and all over your other personal property would be exempt from creditors. This means you would keep all of your property (For example, it doesn't matter that you car is paid off). Also, the fact that you receive some income each month will not prevent you from filing Ch. 7. Many people, unfortunately have the mistaken belief that they must be near poverty to be eligible for filing a Ch. 7. This is not the case. I would be pleased to represent you in this matter and/or discuss your particular circumstances in more detail. ph. (972) 231-5500 or (800) 303-0720

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Answered on 3/07/02, 3:53 pm


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