Legal Question in Bankruptcy in California
Is Bankruptcy right for me?
I want to know if bankruptcy is right for me and if there's away to do it with out being responsible for monthly payments.
Used Credit cards to help my business(band). To keep up with monthly payments I used cards for everyday living and got in over my head. I signed up with a debt consolidation company who told me to stop paying my bills and my accounts have gone into collections.. I am no longer a part of the debt consolidation program as my schedule makes it impossible to keep up on regular payments. My band does a lot of touring and while I'm on tour I am not making steady money.. nor do I know how much I will make on any given tour.. never as much as my day job. Also I never know when we are going to get called onto a tour, it's very sporadic so there's no way for me to keep up with a payment schedule. Even while at home with my day job I'm struggling to make my bills.
2 Answers from Attorneys
Re: Is Bankruptcy right for me?
It will take an attorney's analysis of your total financial picture. A successful Chapter 7 will discharge most debts. Chapter 13 is the wage-earner plan during which you pay a portion of your debt over a period of time, usually 3 or 5 years.
Re: Is Bankruptcy right for me?
It appears you could qualify for chapter 7, However, for a definitive answer, we would need more facts.
You need to pass median income test and or also find out about your assets, if any.
You are more than welcome to call us and set up your in office or telephone consultation, free of cost with us and check out your options.
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