Legal Question in Bankruptcy in California

Bankruptcy

I recently became unemployed and I have a credit card debt of about $60,000. right now there is no way that I can pay my bills and I have no property except my car, I need to know if I will be qualified to file for chapter 7 bankruptcy or I need to wait for a specific period of time?

Thank you.


Asked on 7/09/07, 1:06 am

3 Answers from Attorneys

Robert F. Cohen Law Office of Robert F. Cohen

Re: Bankruptcy

In order to qualify for a Chapter 7 (liquidation) bankruptcy, you will have to complete and pass the means test. Feel free to contact me directly to discuss further. You have not provided enough information to even give you an informed guess.

Read more
Answered on 7/09/07, 1:18 am
Gary Fraley California Bankruptcy Attorneys

Re: Bankruptcy

Whether you can file a bankruptcy now or would have to wait depends on the mechanical analysis of the means test which looks at the last 6 calendar months of income prior to filing your case. Even then, there are other factors. It is likely that you will qualify to file anyway but that cannot be determined based on the information provided.

You are welcome to contact my staff and set up a free, no pressure, attorney consultation with myself or my associate attorney in my Sacramento office. You can call 18006751005 to schedule your appointment.

I look forward to answering all your questions and helping you solve your financial problems.

Sincerely, Gary Fraley, Esq.

State Bar of California Board of Legal Speialization Certified Bankruptcy Law Specialist

Read more
Answered on 7/23/07, 12:20 am
Amy Ghosh Law Offices of Amy Ghosh

Re: Bankruptcy

If you are unemployed..you should be qualified to file chapter 7. You do not havt to wait to file bankruptcy.

Read more
Answered on 7/10/07, 10:19 am


Related Questions & Answers

More Bankruptcy Law questions and answers in California