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 Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 114023
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
10285032
Type Your Legal Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

I need some legal advice for filing bankruptcy. I've been

Customer Question

I need some legal advice for filing bankruptcy. I've been speaking with a local attorney but I'm not sure he's providing correct path for my situation.
Submitted: 5 months ago.
Category: Legal
Customer: replied 5 months ago.
I have ~80K in unsecured debt from medical expenses and living expenses when I was out sick for 10 months. I have a job with a 64K salary and take home ~3500 a month. I own my home and have a mortgage and auto loan through one of the same lenders that I have unpaid debt with (and they've filed a small claims action against me for 12K and are using the house and car against it as cross collatoralization).
Customer: replied 5 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Law Educator, Esq. replied 5 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
What is your question for us and what are you being told after your attorney examined your debts and assets?
Customer: replied 5 months ago.
Can you see the two previous entries I left with details about the situation?
Expert:  Law Educator, Esq. replied 5 months ago.
thank you for your reply.
I apologize, the site must have some technical issues as I am not seeing your responses and all day yesterday it seemed even expert responses were disappearing. Please use reply and post the information again.
Customer: replied 5 months ago.
I need some legal advice for filing...
I need some legal advice for filing bankruptcy. I've been speaking with a local attorney but I'm not sure he's providing correct path for my situation.
20 October 2016 08:15I have ~80K in unsecured debt from medical expenses and living expenses when I was out sick for 10 months. I have a job with a 64K salary and take home ~3500 a month. I own my home and have a mortgage and auto loan through one of the same lenders that I have unpaid debt with (and they've filed a small claims action against me for 12K and are using the house and car against it as cross collatoralization).
Expert:  Law Educator, Esq. replied 5 months ago.
I saw those two posts, did you see my questions for you about your post and can you please answer my questions for more information?
Customer: replied 5 months ago.
He said that chapter 13 was the only way to go with an approximate monthly payment of $850 for five years.
Expert:  Law Educator, Esq. replied 5 months ago.
Thank you for your reply.
Generally, if someone has decent income, which you seem to have (again I do not have the benefit of actually reviewing your asset and debts as a local attorney would in person) and their total debt is not that high, as you say your debt is, CH 13 is the first step the person must take. CH 7 is for those in a position with pretty much no income sufficient to ever pay any of their debts off. So it all depends on the means test and asset/debt ratio as to which chapter the attorney has to file. So yes, it is conceivable based only on the very limited information you provided us and without benefit of reviewing your complete assets and debts that this is correct since you do have decent income and a current job.
Customer: replied 5 months ago.
The debt is about 80k. My concern is that an $850 monthly payment for five years seems too high. My medical, issues wiped out savings and retirement and a payment that high would mean all money beyond basic living expenses would go to the bankruptcy payment. Does the coirt not look at this or is a formula?
Expert:  Law Educator, Esq. replied 5 months ago.
Thank you for your reply.
The courts look at the formula and your income and you can get the court to adjust the payment slightly downward, but they will not significantly decrease the payment (maybe they will agree in some cases reduce it 10%-25% depending on the income of the petitioner). So $850 is the standard from the formula and you can seek to reduce it a little based on your income needs. In the event it starts to appear that you cannot keep up with the payments, you can always return to court to covert the bankruptcy to Chapter 7 if necessary.