Ask a Lawyer
Ask a Question

Posted Feb 1st, 2012
i live in michigan. i have $7000 in debt. can i file bankrupcy

Additional Details:
i dont make that much money so i can pay my credit card bills. someone called me said they were
gonna take me to court. i tried making small payment but they said it wont help me i dont know what
to do
Legal Topic Area: Bankruptcy in MI | 3 Answers

1st Answer

Stacy: If you reside, have a domicile, a place of business, or property in the United States you are eligible to file for bankruptcy. If you only have $7000 in debt there might be some other ways for you to deal with the debt beside filing for bankruptcy. There are non-profit organizations that provide credit counseling services for either no fee or a very nominal fee that you could consult to determine if you are truly a candidate for filing bankruptcy.

I suggest that you contact one of those organizations to determine if there are other alternatives available to you.

Austin Hirschhorn; 101 West Big Beaver Road, Suite 1050; Troy, MI 48084

Phone: 248-680-1660 Fax: 248-680-1671


Answered on Feb 2nd, 2012 at 12:47pm


Other Answers

You need to analyze the costs and benefits of doing a bankruptcy vs. the problems that might arise from the credit cards trying to collect on their debts. It depends on what assets you have, your job situation, and other factors. The only way to properly evaluate this is to have a consultation with a bankruptcy attorney in your area. Most attorneys offer free initial consultation.

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

bankruptcy blog: http://bklaw.com/bankruptcy-blog/

Follow Me on Twitter: @bklawr


Answered on Feb 2nd, 2012 at 1:41pm

If they take you to court, what will they get? Look at what property or earnings they could take. If the answer is "none" then either don't worry about it or offer a settlement that you can afford. You owe so little that it would be a shame to file for bankruptcy, incur the cost of the bankruptcy, and then be precluded from another filing for 8 years. You may need it in the future if your prospects get better.


Answered on Mar 2nd, 2012 at 1:01pm