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 CML Bankruptcy Your Own Question
CML Bankruptcy
CML Bankruptcy, Attorney
Category: Bankruptcy Law
Satisfied Customers: 24
Experience:  Highly experienced in Chapter 7 & 13 bankruptcy.
Type Your Bankruptcy Law Question Here...
CML Bankruptcy is online now
A new question is answered every 9 seconds

I have $169,000 in personal debt (not including mortgages).

Resolved Question:

I have $169,000 in personal debt (not including mortgages). I have another $220,000 in mortgages. My gross income is $86,000 per year. My monthly expenses are $4500 not including a credit card or loan payments. Would I qualify for Chapter 7 bankruptcy in Illinois? If not, how much of my monthly income would I have to give up to creditors if I file for Chapter 13?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  CML Bankruptcy replied 5 years ago.

CML Bankruptcy :

Good evening. Thank you for the opportunity to assist you this evening.

CML Bankruptcy :

So that I can give you the most complete legal information possible, what is the total value of the properties securing the mortgage(s)?

CML Bankruptcy :

And, what expenses are you including in your monthly expenses?

CML Bankruptcy :

And, how many people live in your household? Is the $86,000 the total household income?

CML Bankruptcy and 2 other Bankruptcy Law Specialists are ready to help you
Expert:  CML Bankruptcy replied 5 years ago.

Once I receive this additional information, I'll be better equipped to respond to your question.


I await your response.




Customer: replied 5 years ago.
I was still typring my answer when you ended the chat. please give me a few minutes to answer your questions.
Expert:  CML Bankruptcy replied 5 years ago.

No problem. The chat program doesn't always let me know when a customer is still there. My apologies.

Customer: replied 5 years ago.
I keep trying to send my answer and it disappears when I hit the reply button
Expert:  CML Bankruptcy replied 5 years ago.

Hmmm. I haven't had that happen before. Can you try it again?