Legal Question in Bankruptcy in California

Is it logical to file for bankruptcy in my situation?
Currently, our total family income is about $2k-$3k a month and our monthly payments total $1.5k-$2k. My father's credit card debts total to $18k with overlimit amounts of about $1k for each loan he has. Our mobile home was purchased for about $55k in 1999 and we still have a mortgage balance of $35,587 on the home. We also drive 10-20 year old cars. So I figured that debt consolidation and other similar loans which probably require equity would not be feasible since we have not paid off our home loan and it's market value is not that high. Would it be logical to file for bankruptcy? Ch. 13 or 7?

Asked on 2/03/03, 10:29 pm

3 Answers from Attorneys

Mark Markus Law Office of Mark J. Markus

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Re: Is it logical to file for bankruptcy in my situation?

Hello. It's not possible to answer your question without having a comprehensive consultation first. I would be happy to give you a free phone consult. To prepare for this, please visit my webpage at http://www.bklaw.com/consult.html for what you will need to have ready, and then contact me to schedule a time.

Mark

Answered on 2/03/03, 10:35 pm

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Robert F. Cohen Law Office of Robert F. Cohen

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Re: Is it logical to file for bankruptcy in my situation?

Feel free to give me a call on Tuesday to discuss, at (310) 858-9771. Certainly, there are several options -- some better than others. Thanks. -Robert F. Cohen, Esq.

Answered on 2/04/03, 1:26 am

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