Mossy Head, FL Bankruptcy Law Firms & Lawyers

In order to determine whether you can file bankruptcy an attorney needs to know all about your financial circumstances. I doubt that the car is worth what you think it is worth. If you do not claim a homestead exemption, you get to claim up to $4,000 as exempt from the claims of creditors. If your expenses exceed your income, you are bankrupt, and as a single person with a dependent child, you can make up to a little over $50,000 per year and still file a chapter 7 bankruptcy. You must list all of your creditors in the schedules and all of your assets, what you owe and what you own. How much do you owe? That can be a deciding point. I charge $1500 for a chapter 7, and the filing fee just went up to $335. You must contact a consumer counseling agency before filing a bankruptcy, and you must take a course after you file in personal financial management. I hope this helps.

You should consult a bankruptcy attorney to evaluate whether bankruptcy is the best option now. I would not be concerned about the credit issue since you cannot pay your debt.

If the bankruptcy was filed before the date of the foreclosure sale you could conceivably try to have the sale set aside as void due to the bankruptcy stay. However, it is now 4 years later and someone else is probably living in the house. You will undoubtedly spend more on attorney fees doing all this than you would ever recover for any damage to your credit if that is what you think your damages are.