How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask CA Lawyer Your Own Question

CA Lawyer
CA Lawyer, Attorney
Category: Bankruptcy Law
Satisfied Customers: 1655
Experience:  Bankruptcy Attorney
2669768
Type Your Bankruptcy Law Question Here...
CA Lawyer is online now
A new question is answered every 9 seconds

Im 26,000 dollars in credit card debt. Ive been out of work

Customer Question

I'm 26,000 dollars in credit card debt. I've been out of work for almost a year. I've exhausted all my resources trying to stay current with my credit card debt, morgage, and other monthly expensives. I owe more on my house then it's value. What type of bankrupcy could I file to eliminate my credit card debt or at least lower the balance so I can try and make my morgage payments. I 'm at the end of my rope. Thanks
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  CA Lawyer replied 5 years ago.
A Chapter 7 is the type of bankruptcy that eliminates all of your dischargeable debts (basically anything but taxes, student loans, court fines, wages owed, security deposits owed to consumers, and a few other items.)

A Chapter 13 bankruptcy would be the type to make a partial or full repayment plan over 3 to 5 years.

Here is a link to a form from the US Courts explaining the different types. CLICK HERE. (PDF FILE)

Here is a link to a bankruptcy basics guide from the U.S. Courts. CLICK HERE.



If this information was helpful, please click ACCEPT to give me credit for answering. Bonuses and positive feedback are appreciated if deserved. If you have any related follow up questions or need clarification, just ask!


Remember, this is for entertainment and educational discussion only and is not intended as legal advice and that no attorney client relationship is formed.


Customer: replied 5 years ago.
What about my house filing chapter 7?
Expert:  CA Lawyer replied 5 years ago.
Typically people will either let it go or simply keep the payments current.

If the payments are kept current, they can't foreclose.

If there is no equity, the trustee won't sell it because there is nothing to make from it.

For secured debts (car loans, house loans, etc.) the payments have to be made to keep the property. Sometimes a reaffirmation agreement is necessary, but not typically with mortgages.



If this information was helpful, please click ACCEPT to give me credit for answering. Bonuses and positive feedback are appreciated if deserved. If you have any related follow up questions or need clarification, just ask!


Remember, this is for entertainment and educational discussion only and is not intended as legal advice and that no attorney client relationship is formed.


JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.
 
 
 

Related Bankruptcy Law Questions