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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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what do i need to know befor i start

Resolved Question:

what do i need to know befor i start
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.

cfortunato :

Hi JACustomer,

cfortunato :

Are you asking about a Chapter 7 or a Chapter 13 Bankruptcy?

Customer:

i am not sure yet i am trying to get a business to take off but between medical bills mortgage and past marks i am having trouble procuring the support i need.

cfortunato :

What would you like to know?

cfortunato :

Before filing a Bankruptcy, you have to determine whether or not you qualify to file.

cfortunato :

This will depend on your gross household income.

cfortunato :

You also want to determine whether or not you will be able to keep any major assets you own - such as a house or a car.

cfortunato :

This will depend on how much equity those assets have.

cfortunato :

(Equity = what the assets can sell for minus the balance of any mortgage or car loan.)

cfortunato and other Bankruptcy Law Specialists are ready to help you