QUESTION
What chapter do I file if I have about 25K in credit card debt?
Asked on Mar 08th, 2012 on Bankruptcy - Michigan
More details to this question:
I have about 25 K in credit card debt, I cannot make the monthly payments anymore. I would like to know which chapter I would file to eliminate this debt?
14 ANSWERS
Bankruptcy Attorney serving Overland Park, KS
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The Smalley Law Firm, LLC
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That depends on the specifics of your situation.
Answered on Jul 02nd, 2013 at 2:00 AM
Bankruptcy Chapter 7 Attorney serving San Diego, CA
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Law Office of Asaph Abrams
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The choice to file and the choice of chapter hinges upon many considerations in addition to amount and type of debt.
Answered on Jun 18th, 2013 at 12:35 AM
Criminal Defense Attorney serving Portland, OR
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Jacob D. Braunstein, Attorney at Law
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Generally speaking, a debtor with primarily credit card debt can file either Chapter 7 or Chapter 13 bankruptcy. More specifically, Chapter 7 will discharge the debt in its entirety. A debtor can file Chapter 7 if his income is below the median income for his jurisdiction based on family size, etc.
Answered on Mar 12th, 2012 at 5:58 PM
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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The amount of debt does not determine the chapter that you file. You will need to sit down with a bankruptcy attorney to determine which chapter to file.
Answered on Mar 12th, 2012 at 4:35 PM
Commercial Bankruptcy Attorney serving Davie, FL
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Law Office of Jeffrey Solomon
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You can eliminate your debt in a chapter 7, but you should consult an attorney before you proceed. Issues of excess income (assume no credit card debt) and assets that the trustee might be able to take from you should be reviewed.
Answered on Mar 12th, 2012 at 3:26 PM
Domestic Relations Attorney serving Huntsville, AL
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Ferguson & Ferguson
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If you qualify for a chapter 7 bankruptcy then a chapter 7 will wipe all of these debts out.
Answered on Mar 12th, 2012 at 2:52 PM
You should file Chapter 7.
Answered on Mar 12th, 2012 at 2:25 PM
Chapter 7 Bankruptcy Attorney serving Clinton, MS
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Timothy Kevin Byrne Attorney at Law
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Chapter 7 or Chapter 13 are available. If your income is within the standards of the means test, then Chapter 7 would be the better option.
Answered on Mar 09th, 2012 at 2:45 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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Usually a chapter 7 would be filed in your debts consist of only credit card debt. However, there are factors that might require a chapter 13 instead. You will need to consult with an attorney as to the specific facts in your case.
Answered on Mar 09th, 2012 at 2:35 PM
You should consult with a bankruptcy attorney to determine if bankruptcy is right for you based on your level of debt and rate of income. There is a test which determines if you will qualify for a Chapter 7 full discharge or a Chapter 13 repayment plan.
Answered on Mar 09th, 2012 at 12:40 PM
Most probably chapter 7.
Answered on Mar 09th, 2012 at 12:35 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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The amount of debt does not define which chapter you file under. The question remains what are your goals, what are the consequences and do you qualify.
Answered on Mar 09th, 2012 at 12:32 PM
Business Bankruptcy Attorney serving Raleigh, NC
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J.M. Cook, P.A.
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Most Chapters will eliminate unsecured debt but which Chapter to file is not a function of debt but of equity. You need to consult with a qualified atty to find out what your equity would be in a bankruptcy proceeding so that you can determine the right Chapter to file under.
Answered on Mar 09th, 2012 at 12:17 PM
2 Awards
Chapter 7 or Chapter 13 could work. The decision lies with other factors, not how much debt you have.
Answered on Mar 09th, 2012 at 12:17 PM