QUESTION
Can I file bankruptcy if I am on disability because I can't pay my loan payments?
Asked on May 03rd, 2016 on Bankruptcy - New York
More details to this question:
I have borrowed from several small loan companies and now I can't keep up. I have a loan on the only car I own.
4 ANSWERS
Someone can file bankruptcy while on disability but whether you should file bankruptcy is another question altogether. Many people who only have social security as their income do not need to file bankruptcy because if they do not pay their loans, there may be little or nothing their creditors can actually do to collect from them. Of course, if you do not pay your vehicle loan, expect the repo man to come out and pick up the vehicle in the middle of the night.
Answered on Jun 01st, 2016 at 7:18 AM
If you are only on SS you do not need to file as they can not garnish that from you.
Answered on May 30th, 2016 at 6:41 PM
2 Awards
Yes, you may. I recommend you Discuss your options with a qualified bankruptcy attorney.
Answered on May 30th, 2016 at 6:41 PM