QUESTION

Im 22 years old am i able to file bankruptcy ?

Asked on Jan 29th, 2013 on Bankruptcy - New York
More details to this question:
I'm in school and not working at the momemnt what would be the process I go through to get this handled ? Also how long will it take for me to build mycredit again after bankruptcy?
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1 ANSWER

Bankruptcy Attorney serving Livingston, NJ at Rabinowitz, Lubetkin & Tully, L.L.C.
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As an adult - you are certainly eligible to file for bankruptcy.  In fact, minors may file for bankruptcy when legally obligated to pay debts such as those arising from the purchase of necessities.  In order to file for bankruptcy you need to file a bankruptcy petition with the bankruptcy court, pay a filing fee and obtain the necessary credit counseling.  This can be done pro se (without an attorney), though it is generally advisable to retain an experienced bankruptcy attorney.  As for how long it will take to rebuild your credit, it can vary.  I generally tell my clients that they will be "surprised" at how quickly they receive credit card applications in the mail, but that it will take two or three years of hard work to see a significant improvement in their credit profile. 
Answered on Jan 29th, 2013 at 3:31 PM

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