Last month I went to CCCS to set up a payment plan for debt. My job lowered our commission in half. After setting everything up, I haven't even made the 1st payment yet, my store where I work has decided to go out of business. July 31 is the last day I will have a job. I won't have money to pay my CCCS payment and wonder is it better to file bankrupt. I owe $28, 600!
Do I qualify for bankruptcy? Where do I start?
Yes, I think you do qualify for BK and it may be a very good option for you since it appears that you are not able to pay your debts as they become due. I would suggest theat the easiest thing for you to do is go to your local book store and get a BK book with forms in it for a Chapter 7 BK that is put out by the Nolo Press. I think it is titled "How to file Chapter 7 Bankruptcy" and cost around $20.
Also, under Texas law, you will be able to keep a lot of assets under the exemption laws. You can choose either the federal or the state exemptions, but not both. Those should be listed in the book as well.
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Thank you so much, Maverick. I appreciate you answering my question! I was worried as I couldn't pay more today. I will go to the book store and read what I can in this book prior to purchase next week.
I don't think I have any assets. My car is 8 yrs old. I do have alot of furniture! (worked in the industry).
Thank you for your help and thoughtfulness in answering me.
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