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 Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2900
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
15345323
Type Your Bankruptcy Law Question Here...
Terry L. is online now
A new question is answered every 9 seconds

My father ius 84 and mildly dimential. He lives with us and his only source of incom

Customer Question

My father ius 84 and mildly dimential. He lives with us and his only source of income is SS and small pension. Total annual income is about $15K He has accumulated over $12K credit card debt over the years. Is bankruptcy a viable option for him. We have him on a waiting list for CCSP housing at which point he will need to forfeit his SS and pension in order to be housed and fed.
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 6 years ago.

Terry L. : Hi and thank you for your question. In the future, you can request me to answer any further questions.
Terry L. : Hi and thank you for your question. In the future, you can request me to answer any further questions. Yes, chapter 7 may be a good option for him if he does not have many assets, and low income.
Terry L. : He should meet with a local bankruptcy attorney to help get the case started.
Terry L. : He should meet with a local bankruptcy attorney to help get the case started. Most offer free consultations.
Terry L. : The process takes about 3 months once filed to complete, and most of the information should be easily available.
JACUSTOMER-vq48w6k2- :

That's it ? I thought there may be an alternate avenue, but apparently not.

Terry L. : The court will review his assets, most can be protected with the Georgia bankruptcy exemptions, which can be found here: http://www.thebankruptcysite.org/exemptions/georgia.html
Terry L. : Let me know if you have any questions.
Terry L. : thanks and good luck
Terry L. :

You can look at debt consolidation, or debt settlements if he has a little bit of money to use, but be careful with those, there are many scams out there.

Terry L. :

Ch7 can be an easy tool to wipe the slate clean and get him a quick fresh start.

Terry L. :

Thanks for your question, let me know if you have any more after meeting with a local bankruptcy attorney.

Terry L. :

thanks

Terry L. :

good luck to you both.