Legal Question in Bankruptcy in Texas
Bankruptcy
I am in debt a great deal. Although I
am on active military duty I can't pay
off my debts and stay a float.
Therefore I don't have any assets.
Can I still qualify for chapter 7
bankruptcy if I do not own anything.
In most of the cases I was
misfortunate and the others were
medical bills.
Asked on 10/20/08, 10:08 pm
1 Answer from Attorneys
Andrew Nichols
Law Office of Andrew B. Nichols
Re: Bankruptcy
Yes, you can file without having any assets. The real issue is how much your total debt is compared to your annual income. I would guess that you are in a situation where you will not be able to get out of debt for many many years. If you are stuck in that situation I highly suggest you file. Are you a Texas resident? Please feel free to email me directly at [email protected]
Answered on 10/21/08, 11:37 am
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