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Ask WA Bankruptcy Lawyer Your Own Question
WA Bankruptcy Lawyer
WA Bankruptcy Lawyer, Attorney
Category: Bankruptcy Law
Satisfied Customers: 25
Experience:  30 years practice. Author of several articles.
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I currently have over 50,000 in debt. I been on a ...

Customer Question

I currently have over 50,000 in debt. I been on a debt management program for the last 8 month but unfortunately I can not manage to pay monthly month. Am I eligible to file for bankruptcy. If not what should I do? If I were to send to collection can I make settlement arrangement with all my creditor?
Submitted: 9 years ago.
Category: Bankruptcy Law
Expert:  WA Bankruptcy Lawyer replied 9 years ago.
You don't indicate what type of debt it is. That makes a difference. I am presuming that it is mostly credit card debt. Most "debt management plans" that I have seen are scams. They simply do not do what they say they are going to do and don't work.

You really need to contact a bankruptcy attorney in your area. You may have claims against the debt management company. From your description, bankruptcy looks like a realistic answer. Of course I have no idea what your property and income are and that would make a difference.
Customer: replied 9 years ago.
I really don't know what I should do now? I do have names under a property w/ my ex-husband. He actually need me to apply for loan but actually he pay all the mortgage. I wonder if I were to send to collection agency how would that affect my exhusband.
Expert:  WA Bankruptcy Lawyer replied 9 years ago.
This gets more and more complex. If you are a co-owner of the property that might have an effect. If they are collecting and he didn't sign any of the cards, they shouldn't be able to pursue him.

Debt management will not affect the collection. I regularly see people with debt management programs being sued by collection agencies. .

Whether you tell your ex or not is a different question and depends upon your relationship with him.

You need to find a bankruptcy attorney in your area and discuss the entire matter, including the property, with him or her