QUESTION
How do I file for bankruptcy if I'm on fixed income?
Asked on Jul 24th, 2013 on Bankruptcy - California
More details to this question:
I need to file for my debts are too much for me now. I can't keep up with it all. I owe over $28,000.00.
9 ANSWERS
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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If your income is less than the median income figure, you can file a chapter 7. If not, you can file a chapter 13.
Answered on Jul 26th, 2013 at 7:12 AM
Trusts and Estates Attorney serving Jacksonville, FL
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Law Office of David M. Goldman PLLC
3 Awards
Assuming you have no additional income from a spouse, that would be a reason for filing a Chapter 7. You want to discharge the $28,000 of credit card debt. If it is a no-asset case, your income will not matter as you won't be making any payments to the court.
Answered on Jul 25th, 2013 at 5:49 PM
You should consult an experienced bankruptcy attorney to determine your options. If you have a fixed income it should be fairly easy to determine what, if any, kind of bankruptcy you qualify for.
Answered on Jul 25th, 2013 at 1:04 PM
A person on a fixed income has the same requirements to file a bankruptcy as any other person.
Answered on Jul 25th, 2013 at 11:10 AM
If you cannot afford to pay the legal fees up front, many attorneys will offer you a payment plan. Contact a few and ask them.
Answered on Jul 25th, 2013 at 10:59 AM
Not trying to be funny but go see a bankruptcy attorney. It should be a free initial consultation and many attorneys will work with you and set up a payment plan for their fees.
Answered on Jul 25th, 2013 at 10:59 AM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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You are probably eligible for a chapter 7 filing. The fixed income does not disqualify you.
Answered on Jul 25th, 2013 at 10:26 AM
Sanford M. Martin
To file chapter 7 bankruptcy, fixed income or no income has no effect. Bankruptcy involves insolvent situations where debt is difficult or impossible to handle. Advise you to review the bankruptcy options and information which is a requirement prior to filing, and decide your best options, given your debt, income, future income, etc.
Answered on Jul 25th, 2013 at 9:01 AM
Consult with a bankruptcy attorney. You likely qualify for a chapter 7 bankruptcy, which will get rid of all your unsecured debt (i.e. Credit card debt). The filing fee for a chapter 7 is $306.
Answered on Jul 25th, 2013 at 8:55 AM