QUESTION
Should I file for chapter 7 if I owe a certain amount of unsecured debt?
Asked on Jun 18th, 2012 on Bankruptcy - Massachusetts
More details to this question:
My husband lost his job, a year ago, so we are unable to make payment to a credit card(collection agency attorney) on $16,000.00 and almost $10,000.00 in medical. They are threatening to put a lein on the house. Should we file chapter 7?
19 ANSWERS
Burton J. Green
Assuming that you live in Florida, those creditors can not put a lien on your homestead (the house you own and live in). However, since you cannot make payments on those debts it appears that a chapter 7 would make sense for you.
Answered on Jun 28th, 2012 at 5:12 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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If you cannot pay your debts you should consider filing bankruptcy. Consult with an attorney as to the specific facts of your situation.
Answered on Jun 28th, 2012 at 1:35 PM
Bankruptcy maybe the appropriate solution for you. You should consult a local attorney for guidance.
Answered on Jun 27th, 2012 at 10:05 PM
Probably you should file for bankruptcy. The amount of debt alone is only part of the picture, but if your husband is not working, even if you are, and you can't pay the debt, it sounds like bankruptcy to me. OTOH, don't listen to anything those vampires from the collections industry tell you. They lie 9 times before breakfast and at least once on every phone call. If they could just put a lien on your house, don't you think they would have already done so. Don't ignore them, but don't believe them, either and don't for one millisecond let them be rude or disrespectful to you or to your family. Tell the bill collectors to pound sand. Then go see a bankruptcy lawyer.
Answered on Jun 27th, 2012 at 6:38 PM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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Definitely, the lien would make it much harder to discharge these debts in bankruptcy.
Answered on Jun 27th, 2012 at 5:08 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Filing for bankruptcy is both a personal and business decision. It really depends on so many circumstances: income, payments you made to family, property that you transferred to others, etc. Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Answered on Jun 27th, 2012 at 3:50 PM
Barbara A. Fontaine
You probably should file for chapter 7 relief, especially if you want to keep your house. Getting rid of medical and credit card bills should free money so you can pay your mortgage.
Answered on Jun 27th, 2012 at 3:01 PM
Chapter 7 may be appropriate if you are looking for a fresh start and do not want to pay back any of your debt and are eligible to file under this chapter. There is no minimum amount of debt for either bankruptcy, however, your total amount of unsecured debt could make you ineligible for a chapter 13. A chapter 13 is a reorganization and repayment of debt, and if your income is higher than the median income for the state, then you may have to file under chapter 13, so long as your total unsecured debt and secured debt is within the threshold limits. A consultation with a qualified bankruptcy attorney would allow your individual issues to be analyzed to render the proper opinion on whether bankruptcy regardless of the chapter is right for you.
Answered on Jun 27th, 2012 at 3:00 PM
Mobile Home Law Attorney serving San Juan Capistrano, CA
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Corfield Feld LLP
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Bankruptcy is something to investigate in your situation. A creditor can put a lien on your house, but only after they sue you and receive a judgment. If a lien attaches to your house, it's difficult, if not impossible to remove in bankruptcy. Make sure you get to the bankruptcy court before they get to the county recorder's office.
Answered on Jun 27th, 2012 at 2:47 PM
2 Awards
I suggest you consult with an attorney about filing. There is no debt limit for filing; rather, it is tied to your income.
Answered on Jun 27th, 2012 at 2:24 PM
Norman Linder Hull
If the house you live in is your homestead, the collection agency or other commercial creditor cannot lien your house. There is no minimum amount of debt you must have to file bankruptcy. Consult a bankruptcy attorney; avoid petition preparers or others who pretend to be able to give you advice on bankruptcy.
Answered on Jun 26th, 2012 at 4:23 PM
Divorce Attorney serving Atlanta, GA
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The Martin Law Group, LLC
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You definitely should consider it. Before I can answer whether you should file Chapter 7, I would need you know more about the assets you own and whether you have any equity in your home. I would also need to know the income of both spouses as this is one of the determining factors regarding whether you can file Chapter 7. If I were you, I would seek legal advice (usually free from most lawyers) before a lien is placed on your home.
Answered on Jun 26th, 2012 at 4:08 PM
Bankruptcy Attorney serving Overland Park, KS
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The Smalley Law Firm, LLC
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That is certainly a possible option. I suggest that you consult with a bankruptcy attorney to discuss the details of your specific situation.
Answered on Jun 26th, 2012 at 4:05 PM
Immigration Attorney serving Arlington, TX
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Law Office of Pho Ethan Tran, PLLC
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If you owe more debts than you can afford to repay, you can file for chapter 7 bankruptcy protection. That will stop any pending lawsuits and potential liens against your home.
Answered on Jun 26th, 2012 at 4:05 PM
Bankruptcy: Creditor Attorney serving Grand Island, NE
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Milner Neuhaus & Judds
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You don't say what your income is, but it is probable that you will qualify with only one or no income source. Make an appointment with a Bankruptcy Attorney to determine if you qualify and what is best for your circumstances.
Answered on Jun 26th, 2012 at 4:03 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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Chapter 7 is great for people in your position if you qualify. Read the pamphlet on my website to learn more about chapter 7. You may want to take the online "means test" to see if you can qualify. You also need to contact a consumer credit counselling agency before filing and get a certificate from them. Bankruptcy is a complicated process that requires the individualized attention of an experienced attorney.
Answered on Jun 26th, 2012 at 4:03 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It is certainly one option which you should consider. See an attorney before making any decision or commitment.
Answered on Jun 26th, 2012 at 4:01 PM
Bankruptcy Attorney serving Atlanta, GA
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Jakob-Barnes Law Firm, LLC
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A lot of information goes into determining whether one should file for a bankruptcy. I suggest meeting with an attorney that does both Chapter 7 and Chapter 13 bankruptcies. They will be able to fully advise and give you options.
Answered on Jun 26th, 2012 at 4:01 PM
child support Attorney serving Northborough, MA
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Aaron Hutchins
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Can't tell from your bare facts whether you'll qualify for a 7 or 13. Either way, consult an attorney and find out!
Answered on Jun 26th, 2012 at 3:59 PM