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AV Preeminent Peer Rated Attorneys
Florida Residents, consider several factors when selecting a lawyer ... Learn More
AV Preeminent Peer Rated Attorneys
Florida Residents, consider several factors when selecting a lawyer including their experience, expertise, and reputation. AV Rated Attorneys represent a distinguished group of lawyers who have received top ratings from their peers for their exceptional ethical standards and an A grade (4.5 or higher).
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Commonly Asked Bankruptcy Questions From Users Near You

This information is not legal advice and is not guaranteed to be correct, complete or up-to-date. It is provided for general informational purposes only. If you need legal advice you should consult a licensed attorney in your area.

Do liens qualify under chapter 7?

Jeffrey David Solomon
Answered by attorney Jeffrey David Solomon (Unclaimed Profile)
Bankruptcy lawyer at Law Office of Jeffrey Solomon
The problem is that if you filed bankruptcy now before receiving the settlement the chapter 7 trustee would take the settlement.
The problem is that if you filed bankruptcy now before receiving the settlement the chapter 7 trustee would take the settlement.

Am I eligible for filing chapter 7 bankruptcy?

Jeffrey Alan Cogan
Answered by attorney Jeffrey Alan Cogan (Unclaimed Profile)
Bankruptcy lawyer at Jeffrey A. Cogan Chartered, a PLLC
I am unsure if your average per month is $11,465 or that is the total. Presuming it is per month, you probably would have to be in a Chapter 13 repayment plan. There are things that a good attorney can do to reduce that income calculation and if you are a family of four or more, there is a chance to be in a Chapter 7. Finally, if you do make that much per month, it would be better to hire a lawyer and negotiate that debt down. Depending on who is collecting and what it is for?
I am unsure if your average per month is $11,465 or that is the total. Presuming it is per month, you probably would have to be in a Chapter 13 repayment plan. There are things that a good attorney can do to reduce that income calculation and if you are a family of four or more, there is a chance to be in a Chapter 7. Finally, if you do make that much per month, it would be better to hire a lawyer and negotiate that debt down. Depending on who is collecting and what it is for?
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How much debt do you have to have to file bankruptcy and what are the pros and cons of a young single mother filing?

Richard B. Jacobson
Answered by attorney Richard B. Jacobson (Unclaimed Profile)
Bankruptcy lawyer at Richard B. Jacobson Associates, LLC
First of all, in general you may not discharge student loans in bankruptcy at least not unless you are incapable of supporting your family and also paying even a few dollars a month on the loans. So, subtracting the student loans from the $10,000, consider how much you are discharging, and how many creditors there are. If there are only one or two, it would be worthwhile trying to work out some kind of settlement or extension of time to pay with the creditors. More than that usually does not work. The negative is that bankruptcy has various costs with it: a filing fee, a legal fee, a fair amount of effort on your part to assemble the information, two online 'briefings,' must be done. Your credit score will go down, but you can repair that with 24-30 months or meticulous regular payments on the bills that will remain, such as rent, utilities, etc. You would do well to discuss the whole thing with an experienced bankruptcy lawyer.
First of all, in general you may not discharge student loans in bankruptcy at least not unless you are incapable of supporting your family and also paying even a few dollars a month on the loans. So, subtracting the student loans from the $10,000, consider how much you are discharging, and how many creditors there are. If there are only one or two, it would be worthwhile trying to work out some kind of settlement or extension of time to pay with the creditors. More than that usually does not work. The negative is that bankruptcy has various costs with it: a filing fee, a legal fee, a fair amount of effort on your part to assemble the information, two online 'briefings,' must be done. Your credit score will go down, but you can repair that with 24-30 months or meticulous regular payments on the bills that will remain, such as rent, utilities, etc. You would do well to discuss the whole thing with an experienced bankruptcy lawyer.
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