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socrateaser
socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 37968
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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I have sold everything I can and have enough to pay off my

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I have sold everything I can and have enough to pay off my credit card debt I encoured because people went out of buisness who owed us money. Even after paying off the credit cards I am upside down with my house first, second, boat and camper. I was told that I can file chapter 7 because I am disabled my income has dropped 75% and I don't make enough to pay my mortgage. Can I go ahead and pay off the unsecured debt and then file for bankruptcy on the secured debt so I don't lose the only vehicle that can hold my family it is worth 17k and paid for but I was told they would take it to pay unsecured debt.
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 7 years ago.

Before deciding whether to pay off a particular debt, you may want to check the bankruptcy exemptions for your State jurisdiction, because this can affect whether and what you may choose to pay off.

 

If you tell me where you reside, I can give you a link to an exemption list.

 

Thanks in advance.

 

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