Legal Question in Bankruptcy in Massachusetts

Help with bankruptcy

Hi. I was wondering if I could file for a chapter 7 bankruptcy. Ive accrued a large credit card balance as well as personal loans and dont think Ill be able to keep paying them.My current situation is I live at my fathers house rent free but pay the basic utility bills. But I will have to get an apartment in the near future. I dont own a house,car or have any valuable assets. My biggest concern is even though I could, with difficulty keep paying the minimums on my credit cards, when I have to start paying a rent,and with that, utilities I wont be able to pay the credit cards.I earn $40,000 a year. Any suggestions? Thank you


Asked on 8/31/04, 4:04 pm

2 Answers from Attorneys
Barry Levine Law Office of Barry R. Levine

Re: Help with bankruptcy

YOu would appear to be a perfect candidate for a Chapter 7 bankruptcy wherein you would be able to discharge your debts and get the "fresh start" contemplated by the Bankruptcy Code. You do not mention the amount of liability that you currently have and over what period of time it was incurred. Once these questions have been answered, we should be able to develop the most appropriate strategy for addressing and resolving your financial situation.

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Answered on 8/31/04, 6:03 pm
David Baker Law Office of David Baker

Re: Help with bankruptcy

Your situation sounds like what bankrutpcy was created to help. It would probably be better to wait until you are in your own apartment first so that your budget looks more conventional. You should sit down with me or another attorney experienced in bankruptcy and review your situation in detail before making a decision. I do not charge for the initial consultation, so don't hesitate to call me if you are in the metro Boston area. Good luck!

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Answered on 8/31/04, 7:23 pm


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