Legal Question in Bankruptcy in California

Debt

I have currently credit card balance of about $60000 because of gambling, and outstanding student loan of $25000 and right now I have lost my job and have no income, I need to know what can I do right now? Should I call the creditors and tell them that I have lost the money in gambling or just tell them I don�t have the money, considering the large amount of outstanding balance, I am facing a big problem in regard of accumulating compounded interest rates. By the way I do no have any asset but my car which is paid off.

Appreciate you help

Thank you.


Asked on 1/30/07, 3:06 pm

1 Answer from Attorneys
Amy Ghosh Law Offices of Amy Ghosh

Re: Debt

File bk but student loan is not dischargeable.

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Answered on 1/30/07, 8:33 pm


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