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 Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
Type Your Bankruptcy Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

I have six credit cards with high balances; I have lost almost

This answer was rated:

I have six credit cards with high balances; I have lost almost all of my income; I am not able to pay the monthly interest or principal payments. I have contacted all six of the credit card banks asking for help with no results. What are my alternatives?
*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*


Thanks for using JustAnswer. I am a Florida lawyer and I will do whatever I can to answer your questions!

Don't Forget that the deposit you placed to ask this question is not used to compensate me until you rate my service ! Please Remember that when you are asked to give a rating, you are rating My Service and not this website itself or the law .

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 Florida:

Customer: replied 3 years ago.

bankruptcy is not an option.

These are the possible alternatives:
1. Negotiate a payment plan (this did not work out for you)
2. File the bankruptcy (not an option)
3. Allow the creditors to file suit and attempt to collect the debt

Please let me know if you would like additional information about any alternative
Ellen and 3 other Bankruptcy Law Specialists are ready to help you