Legal Question in Bankruptcy in California

When to file chapter 7 personal bankruptcy

Am single woman, four months behind in payments, looking for fulltime job for 3 months. Owe $18,000 to 3 major credit cards (Visa $7500, MC $4500, Amex $3800) and 5 store charges $3500. All but $2000 of charges are over 3 months old.

Earning $1250.00 gross income now, and all of 1999. Hotel I work at is also in Chapter 13 over a year now. Former Fiance owns the hotel, we lived together 3 years, he supported me, separated July 99. I rented apartment, starting over. How long do I have before I have to decide on BK7 or not, or before I have legal action taken against me or my income? No assests except 10 year old car, perfect credit until July 1999.

Should I file BK7 now or wait for fulltime employment to negotiate payments on the debts?

I sincerely appreciate your advice and consideration. Thank you.


Asked on 10/09/99, 9:34 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: When to file chapter 7 personal bankruptcy

Hello. Bankruptcy is definitely a possibility you should explore. How long it will take for your creditors to file lawsuits, get judgments against you, and ultimately garnish your wages, is hard to say. I'm sure you have at least a few months to decide. However, whether to file it now or not can only be decided after a comprehensive consultation with a bankruptcy attorney (such as me). If you would like a free consultation, please visit my web site at http://www.bklaw.com/bklaw and give me a call. I will be happy to assist.

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Answered on 10/11/99, 4:58 pm


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