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JoeLawyer
JoeLawyer, Attorney
Category: Bankruptcy Law
Satisfied Customers: 767
Experience:  Attorney in the practice of Bankruptcy Law since 1996
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Okay I want to file bankrtuptyc i only make about 2,000 a year

Customer Question

Okay I want to file bankrtuptyc i only make about 2,000 a year for the past 5 years my girl frind help me pay my bills she can help me an more i want ot keep my car i pay 365 a month my mom is goignto hel me pay it
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  JoeLawyer replied 7 years ago.
Hello Mike.

If your income has been $5,000/year for the past 5 years, then your income is probably low enough to make you eligible to file Chapter 7.

Chapter 7 allows you to discharge your debts, and you can then reaffirm any debts you want to keep (such as your car payment). This means that during your bankruptcy case, your attorney will help you acquire a reaffirmation agreement from your car lender that you will sign and file with the court that says you are going to continue to make car payments in return for your keeping the vehicle. Another option may be "redemption" if you are upside down on the car (i.e. if you owe more on it than it is worth), which is where you only have to pay the VALUE of the car to keep it, not the full loan amount. You can talk to your attorney about this option if you are upside down on the car.

If you have any specific question, please let me know and I will try to help you.

Thanks!

LEGAL NOTICE: I am only licensed to practice law in certain state(s) and I cannot give legal advice to someone who does not reside in a state in which I am licensed, nor shall anything I say in the above answer or elsewhere on this site be deemed legal advice, even to someone who resides in a state in which I am licensed. Fees I receive for answering questions are paid for information, not for legal advice. This forum is designed to provide general information only, and information herein is not warranted to be correct or applicable in any way since laws may have been misinterpreted herein, since laws change from time to time, and since the impact of those laws on any particular situation varies. The information presented in this site shall not be construed to be formal legal advice nor the formation of an attorney-client relationship. Persons accessing this response are encouraged to seek independent legal counsel in their jurisdiction for guidance regarding their individual circumstances. Do not take any action or inaction based on information presented herein since it is informational and may not be accurate or applicable to you; it merely attempts to give you a basis of knowledge to help you formulate questions to ask a legal or other professional in a face-to-face meeting in your jurisdiction. Joseph Ross does not hold himself out to be a specialist or expert in any area, regardless of assertions made by any third party, and any implication of being an expert or specialist herein is made in error. I hope the information presented above is useful to you. Answer above is (c) Joseph Ross. All rights reserved.
Customer: replied 7 years ago.
so what can i file i only may 2,000 i am 45,000 indebt i was in school
Expert:  JoeLawyer replied 7 years ago.
We can only provide legal information, not legal advice, so I cannot say what Chapter of bankruptcy you can file since I cannot advise you. But, I can say that most people in the $5,000/year income range file Chapter 7, which is the cheapest, quickest Chapter to file generally.

However, student loans are not normally dischargeable, so you will want to talk to your attorney about whether you can discharge school-related loans if that is an issue for you.

LEGAL NOTICE: I am only licensed to practice law in certain state(s) and I cannot give legal advice to someone who does not reside in a state in which I am licensed, nor shall anything I say in the above answer or elsewhere on this site be deemed legal advice, even to someone who resides in a state in which I am licensed. Fees I receive for answering questions are paid for information, not for legal advice. This forum is designed to provide general information only, and information herein is not warranted to be correct or applicable in any way since laws may have been misinterpreted herein, since laws change from time to time, and since the impact of those laws on any particular situation varies. The information presented in this site shall not be construed to be formal legal advice nor the formation of an attorney-client relationship. Persons accessing this response are encouraged to seek independent legal counsel in their jurisdiction for guidance regarding their individual circumstances. Do not take any action or inaction based on information presented herein since it is informational and may not be accurate or applicable to you; it merely attempts to give you a basis of knowledge to help you formulate questions to ask a legal or other professional in a face-to-face meeting in your jurisdiction. Joseph Ross does not hold himself out to be a specialist or expert in any area, regardless of assertions made by any third party, and any implication of being an expert or specialist herein is made in error. I hope the information presented above is useful to you. Answer above is (c) Joseph Ross. All rights reserved.
Customer: replied 7 years ago.
so can i file if i only mad 2,000 a year for the laste 5 years
Customer: replied 7 years ago.
if i bring w 2 for the last frive east is that good what else do i have to bring
Expert:  JoeLawyer replied 7 years ago.
You should be fine to file Chapter 7 if you only made $2,000/yr for the last 5 years. In addition to income though, there are other things that can prevent you from filing Chapter 7, such as if you filed another Chapter 7 within the preceding 8 years or a prior Chapter 13 within the preceding 6 years (basically), etc.

Usually you have to give your attorney your last 2 years of tax returns including W-2's, six months worth of paystubs, plus other documents that different jurisdictions require. For example, in my jurisdiction the court also wants 3 months of bank statements, copies of mortgages and deeds to real estate, etc.

Many attorneys offer free consultations, so I suggest setting up a free consultation and they should tell you what documents they will want you to bring in.

LEGAL NOTICE: I am only licensed to practice law in certain state(s) and I cannot give legal advice to someone who does not reside in a state in which I am licensed, nor shall anything I say in the above answer or elsewhere on this site be deemed legal advice, even to someone who resides in a state in which I am licensed. Fees I receive for answering questions are paid for information, not for legal advice. This forum is designed to provide general information only, and information herein is not warranted to be correct or applicable in any way since laws may have been misinterpreted herein, since laws change from time to time, and since the impact of those laws on any particular situation varies. The information presented in this site shall not be construed to be formal legal advice nor the formation of an attorney-client relationship. Persons accessing this response are encouraged to seek independent legal counsel in their jurisdiction for guidance regarding their individual circumstances. Do not take any action or inaction based on information presented herein since it is informational and may not be accurate or applicable to you; it merely attempts to give you a basis of knowledge to help you formulate questions to ask a legal or other professional in a face-to-face meeting in your jurisdiction. Joseph Ross does not hold himself out to be a specialist or expert in any area, regardless of assertions made by any third party, and any implication of being an expert or specialist herein is made in error. I hope the information presented above is useful to you. Answer above is (c) Joseph Ross. All rights reserved.

Customer: replied 7 years ago.
i havnt file in income tax becuas ei have mad enoe will i be able to get student loadn after it\
Expert:  JoeLawyer replied 7 years ago.
If you were not required to file tax returns then your W-2's will probably suffice. Your attorney can tell you what requirements exist in your specific jurisdiction.

Generally, filing bankruptcy does not make you unable to acquire student loans afterwards.

LEGAL NOTICE: I am only licensed to practice law in certain state(s) and I cannot give legal advice to someone who does not reside in a state in which I am licensed, nor shall anything I say in the above answer or elsewhere on this site be deemed legal advice, even to someone who resides in a state in which I am licensed. Fees I receive for answering questions are paid for information, not for legal advice. This forum is designed to provide general information only, and information herein is not warranted to be correct or applicable in any way since laws may have been misinterpreted herein, since laws change from time to time, and since the impact of those laws on any particular situation varies. The information presented in this site shall not be construed to be formal legal advice nor the formation of an attorney-client relationship. Persons accessing this response are encouraged to seek independent legal counsel in their jurisdiction for guidance regarding their individual circumstances. Do not take any action or inaction based on information presented herein since it is informational and may not be accurate or applicable to you; it merely attempts to give you a basis of knowledge to help you formulate questions to ask a legal or other professional in a face-to-face meeting in your jurisdiction. Joseph Ross does not hold himself out to be a specialist or expert in any area, regardless of assertions made by any third party, and any implication of being an expert or specialist herein is made in error. I hope the information presented above is useful to you. Answer above is (c) Joseph Ross. All rights reserved.

Expert:  JoeLawyer replied 7 years ago.
Mike I noticed this is the 5th question you have asked on JustAnswer, and you have not accepted any of the answers given on any of the questions. For that reason, I am opting out and will not be answering any further questions.

LEGAL NOTICE: I am only licensed to practice law in certain state(s) and I cannot give legal advice to someone who does not reside in a state in which I am licensed, nor shall anything I say in the above answer or elsewhere on this site be deemed legal advice, even to someone who resides in a state in which I am licensed. Fees I receive for answering questions are paid for information, not for legal advice. This forum is designed to provide general information only, and information herein is not warranted to be correct or applicable in any way since laws may have been misinterpreted herein, since laws change from time to time, and since the impact of those laws on any particular situation varies. The information presented in this site shall not be construed to be formal legal advice nor the formation of an attorney-client relationship. Persons accessing this response are encouraged to seek independent legal counsel in their jurisdiction for guidance regarding their individual circumstances. Do not take any action or inaction based on information presented herein since it is informational and may not be accurate or applicable to you; it merely attempts to give you a basis of knowledge to help you formulate questions to ask a legal or other professional in a face-to-face meeting in your jurisdiction. Joseph Ross does not hold himself out to be a specialist or expert in any area, regardless of assertions made by any third party, and any implication of being an expert or specialist herein is made in error. I hope the information presented above is useful to you. Answer above is (c) Joseph Ross. All rights reserved.