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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Hi my name is Sarah and would like to know i having credit

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Hi my name is XXXXX XXXXX would like to know i having credit card issues and would like to file for bankruptcy because I make only 10.50 hrly and I cant afford to pay all the old debit i aqucired when my pay was decent enough so what can i do? Im already being garinished from one lawyer. Then when that person done anothers will follow?

Thank you for your question. I am happy to assist you.

I am a lawyer with 25 years experience. While I am permitted to provide you with legal information, I am prohibited by and various state bar associations from giving legal advice, representing you or entering into an attorney-client relationship through this open and nonconfidential forum.

You may want to consider a chapter 7 bankruptcy. I will explain.

As an individual, there are two types of bankruptcy available. A Chapter 7 and a Chapter 13. There are distinct differences in between a Chapter 7 and a Chapter 13 bankruptcy.

A Chapter 7 bankruptcy could discharge (erase) all of your unsecured debt such as credit cards, judgments and personal loans. It would be an opportunity for a fresh financial start. However, you may have to surrender assets, if any, that exceed your exemption.

A Chapter 13 bankruptcy is a repayment plan for an individual. It may require that you repay some of your unsecured credit card debt over a 3 -5 year period. However, you may retain assets that exceed your exemption.

Here are the exemptions for Michigan:

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

Ellen and 3 other Bankruptcy Law Specialists are ready to help you