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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I live in Florida. I owe > $75k in debt; 90% credit cards. No

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I live in Florida. I owe > $75k in debt; 90% credit cards.
No mortgage, no student loan, no taxes owed.
I make $100k per year but travel 150 RT miles for $100/week gas/tolls.
I'm 52 yo and hive a wife and 3 teenagers.
What options do I have to ease or forgive the debt?

Thank you.

cfortunato :

Hi - my name is XXXXX XXXXX I'm a Bankruptcy and Consumer Protection attorney here to assist you.

cfortunato :

You earn too much - even after deducting your transportation expenses - to file a Chapter 7 Bankruptcy (where your debts can be discharged without having to pay anything to your creditors.

cfortunato :

You would be able to file a Chapter 13, though.

cfortunato :

With a Chapter 13 you pay your disposable income to the Bankruptcy court every month for 5 years. This money goes to your creditors, and at the end of the 5 years the balance of what is owed to your creditors gets discharged.

cfortunato :

(Disposable income is your take-home pay minus your living expenses.

cfortunato :

)

cfortunato and other Bankruptcy Law Specialists are ready to help you