Legal Question in Bankruptcy in Virginia
grandmother in debt
My grandmother has herself in major credit card debt and we are trying to figure out the best way out of it for her. I hear that debt consolidation is the way to go, and then others say no way. Help!!
Asked on 9/11/07, 1:45 am
2 Answers from Attorneys
Daniel Press
Chung & Press, P.C.
Re: grandmother in debt
Debt consiolidation can work for some people, but not all creditors will participate, there can be tax consequences, and the payments may still not be affordable. Bankruptcy may also be an option, depending on her assets, income, etc. She should see a bankruptcy lawyer where she resides and go over her options.
Answered on 9/11/07, 9:34 am
Robert F. Cohen
Law Office of Robert F. Cohen
Re: grandmother in debt
It depends on your grandmother's source of income, her assets, extent of debt, ability to repay, etc. More information is necessary.
Answered on 9/11/07, 2:24 am
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