QUESTION
Elderly mother owes $4000 in credit card debt and has a car lease with a $21k buy out (saw her coming). Owns no property and has no $ in bank.
Asked on Feb 03rd, 2017 on Bankruptcy - California
More details to this question:
Elderly mother owes $4,000 in credit card debt and has a car lease with a $21k buy out (saw her coming). Owns no property and has literally no $ in bank. Lost her PT job. Gets $700 mo in Social Security. Should she file BK in order to walk away from the lease and the credit card debt? She's in California.
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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3 Awards
She is likely judgment proof, so there's no real reason to file a bankruptcy case unless she just wants to not be bothered by it all. But her creditors can't get anything from her based on the facts.
Answered on Feb 03rd, 2017 at 9:39 PM