Question to bankruptcy attorneys and or trustees?

I%26#039;m thinking about filing Chapter 7 but do not know if im eligible. Here%26#039;s my situation, I make 19k a year which is below the median; I have no property/assets or savings. I owe 23k on the car and 18k on 3 credit cards. If i sell the car I still owe 8k. I tried to negotiate with my car%26#039;s creditor and that%26#039;s the best rate they can do. The reason why I want to liquidate my debt is because I want to go back to school full-time. Save money and rebuild credit while in school. If i continue paying my debt ( 5 more years ) I will not have savings and an education. I don%26#039;t mean to be a deadbeat on my debts but this is the best solution i can do in order to straighten my life, financially and responsibly. I don%26#039;t want to do Chapter 13 for my credit card debts-- this will waste my time, money and get a ruined credit report.

I%26#039;ll face the consequences: Attorney fees, bad record for 10 years, higher rates.. you name it.

Question to bankruptcy attorneys and or trustees?

The answer is yes, you will qualify. Your income is well below the median average, you have little property (give the car back)

Good luck

Question to bankruptcy attorneys and or trustees?

In either case you will ruin your credit score, instead look at Stafford loans for your college, they do not need to be paid back until 6 months after you graduate or drop out. Keep working and go to school nights or online, not easy but can be done I did it and my daughter is doing it now.

Question to bankruptcy attorneys and or trustees?

No don%26#039;t go for bankruptcy. It will remain on your credit report for the next 7-10 years . So be careful and try to consolidate your debts. You can consult with a debt consolidation agency for help. They will reduce your debts by 50% or less. You can also go for some debt consolidation loans.

To know more you can visit

http://www.debtconsolidationmanagement.b...

and

http://www.badcrediteasyloans.blogspot.c...

Question to bankruptcy attorneys and or trustees?

Try Consumer Credit Counseling Services instead. They are the oldest non-profit credit counseling service in the Country and will lower both your monthly payments and interest rates.

I used them several years ago and was debt free in 36-months.

You can contact them at 1-800-388-2227.

Bankruptcy will ruin your credit for several years and show for 10 if you file chapter 7.