Legal Question in Bankruptcy in Illinois
Should I file
After figuring it all out, I have 10,000 in debt, plus 4500 on my car, and 6250 in student loans that I don't pay yet. After my monthly payments including medical, car, insurance, and necesities,I have about $40 in my pocket. what do I do?
2 Answers from Attorneys
Re: Should I file
From the information you have given, it would appear that you could file for protection under Chapter 7 of the Bankruptcy Code. Chapter 7 provides for the discharge almost all of your debts. Student loans can be discharged in very specific circumstances.
I would be interested in discussing this matter further with you.
Please call my office at 312-236-9906 to discuss your options at no charge. My firm practices throughout Illinois.
I look forward to speaking with you.
Very truly yours,
Thaddeus J. Hunt, Esq.
Re: Should I file
If you are going to file a Ch. 7, now would be the time to do it, before the law changes. It would appear that all of your non-secure debt would be discharged. I seriously doubt whether you would lose your car. However, please note that MOST student loans are not dischargeable due to federal law. If you have any questions call me at (630)893-2494
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