Filling for Bankruptcy?
Hello…Im 22 and live in Missouri I was wondering if any one has filled for bankruptcy and Is it that hard now w/ the new laws? I have $25,000 in debt and I only make $10.00 hour would that make me a good candidate to file?? Most of my bills are medical bills so dont think that Im a crazy credit card spender Im not.. Im just a girl who cant get a break…please be nice and tell me what I should expect Thank You!
thank you for your answers but I need to include that I have student loans and also a car payment….I have called the FA for the hospital and they worked out an arrange ment w/ me but I cant always afford it… My credit is already really really bad because of it.. I have a 2nd job and a roommate but its just never ever enough.. I think that Im still going to talk to an attorney.
January 24th, 2009 at 8:47 pm
Filing for bankruptcy is a BIG thing. That in itself can really put a damper on your credit, and you’re only 22. Why are you working at a job paying only $10 an hour? Try finding a better paying job… bankruptcy should really be a last last last resort.
January 27th, 2009 at 4:08 am
Well, first, I hope you are better now!
You don’t need to declare bankruptcy – you need to get a second job and get on a super tight budget. Get a roommate.
If these are all medical bills, call the doctors and hospital and ask for help working something out. They will usually work with you to make reasonable payment arrangements.
And go get some catastrophic health insurance. If you’d had that, you would only be $10-15K in the hole.
ETA: If you declare bankruptcy, only the hospital bills will be discharged, unless you don’t reaffirm your auto loan as well. Student Loans cannot be wiped out in bankruptcy. You are really better off getting a second job and working something out with the hospital.
January 29th, 2009 at 6:32 pm
I would talk with the hospital first and see if they could not cut you a deal where you repay them say 50 cents on the dollar to make it more reasonable. If they will not negotiate, than bankruptcy maybe the only option. Have you considered a second job? I have done this before to get some of my debt paid down.
January 30th, 2009 at 4:16 pm
I’m sorry to hear of your problems. From what you’ve said your situation is quite complicated. Bankruptcy can deal with medical bills but not student loans. The new law makes it quite difficult to file bankruptcy and I would advise that you get legal help.
You can get a free initial consultation with a qualified bankruptcy attorney in your area. They should be able to tell you whether you should file bankruptcy or whether there is any alternative that meets your situation.
Check out this webpage where you can find an attorney near you:
January 30th, 2009 at 9:52 pm
Hi,
I used “Credit Solution” to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.It’s legitimate.I came across this company on NBC News Special Edition.Check it out here: