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Hi, I wanted to ask if I'm able to claim bankupcy with only owing maybe 15, 000 together in bills and credit card debt.

1 Answers. Asked on Mar 29th, 2017 on Bankruptcy - New York
More details to this question:
I'm being sued as we speak and I have no job at the moment. I lost my job due and became unable to pay bills and now my credit is horrible. I'd like to claim bankruptcy, but I'm not sure if I meet the requirements.
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Answered on Apr 01st, 2017 at 8:03 AM

To answer your question, you meet the requirements.  However, you might do better answering the suit and trying to settle each debt.  $15,000 is not a lot of debt for a bankruptcy.  The legal fees and long term credit consequences might be more than you could pay in a settlement.

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