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Can I claim Chapter 7? Personal Bankruptcy

Discussion in 'Bankruptcy Law' started by spunky926, Jun 15, 2018.

  1. spunky926

    spunky926 Law Topic Starter New Member

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    New Jersey
    I make well over the median income levels, but I will say that there is little to no disposal income with my housing, tax rate, child care, auto, student loan payment, insurance...etc. I tried to go the route of debt settlement, but I can't even afford that payment. Outstanding debt (unsecured) is somewhere around $150K. I don't own anything except for a vehicle which is financed and doesn't have equity in it. My debt came from my divorce and then with the lack of child support payments and father being involved, it's greatly increased my expenses for childcare, since I'm a working mom.

    I want to know if it could be feasible to discharge all of my debt, even with a salary over 6 figures?
  2. army judge

    army judge Super Moderator

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    Yes, bankruptcy is a possibility for everyone.

    You can even do it yourself.

    There are many self help guides available for purchase under $10.00.

    The federal bankruptcy court also provides do it yourself instructions for FREE.

    Filing for Chapt 7 BK runs about $350, and payment arrangements with the court are possible.

    Sometimes student can is dischargeable, as are back IRS debts.

    Many BK lawyers offer FREE consultations.

    Investigate, educate yoyrself, BK works wonders and offers you a fresh start to stay debt free.
  3. zddoodah

    zddoodah Well-Known Member

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    Is it possible? Sure it is. Is it possible that you won't be able to file under Ch. 7 and will have to file under Ch. 13? Yes. The smart thing to do would be to seek a consultation with a local BK attorney.

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