I HAVE RECENTLY STARED RECEIVING DIABILITY AND MY INCOME HAS DROPPED 2/3 ISBANKRUPTCY FOR ME? R

Is bankruptcy for me? This is certainly a question you really should have with an experienced bankruptcy attorney, to go over your entire financial history, not simply what you've placed in this question. But with that stated, considering you have about $10,000 in unsecured debt in a home that is under water and your income has dropped two thirds, I would say that chapter 7 bankruptcy was a very good option for you. Bankruptcy is intended to help those who have had some difficulty with their income and in your case losing two thirds of your income certainly puts you in a situation where bankruptcy would be very advantageous. The fact your unsecured debt is about $10,000, does not concern me as much as having a house that's underwater and losing two thirds of your income. You may waste all of your income for the next couple years trying to maintain this debt, without the ability to ever pay it off, and you will be forced into bankruptcy at a certain point in the future. If you ever lose more than one third of your income, bankruptcy should always be a consideration. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob