Legal Question in Bankruptcy in California

banckruptcy

I have about 45k in credit card debt and about 30k in student loans, I haven�t defaulted on any of my payments so far, but I am at a point right now that I have been laid off and I can�t afford any of my payments any more, the only asset that I have is my car which is about $5k, I am not sure what I can do, considering my situation , can I file for bankruptcy now or I should wait until credit card companies sue me ?

Thank you very much for your help


Asked on 9/22/08, 5:00 pm

1 Answer from Attorneys
Brian Whitaker Lifeline Legal, LLP

Re: banckruptcy

You can file now - or you can file later. In either case, it would be a waste of money to pay any more toward those debts. The longer you wait, the more your credit score has to recover after the BK.

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Answered on 9/22/08, 6:37 pm


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