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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I have @ $24,000 in credit card debt, 5 creditors. I am a

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I have @ $24,000 in credit card debt, 5 creditors. I am a single parent of 2 children, work 2 jobs and recently divorced and at this time and not expecting additional income in the near future. I send them money when I can, but it is such little amounts that they are not satisfied and it will take me many many years to pay off. I am wondering what the average cost is to file bankruptcy at my debt amount? Are there monthly payment options? Do I have other options? My credit is already ruined at this point.
*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*


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From your description, it sounds like you would benefit from a chapter 7 bankruptcy

As an individual, there are two types of bankruptcy available. A Chapter 7 and a Chapter 13. There are distinct differences in between a Chapter 7 and a Chapter 13 bankruptcy.

A Chapter 7 bankruptcy could discharge (erase) all of your unsecured debt such as credit cards, medical bills, judgments and personal loans. It would be an opportunity for a fresh financial start. A Chapter 7 requires that you surrender assets, if any, that exceed your exemption. However if you do not have any nonexempt assets, you will lose only your debts. The attorneys fees run about $1000-$1500

A Chapter 13 bankruptcy is a repayment plan for an individual. It may require that you repay some of your unsecured credit card debt over a 3 -5 year period. However, you may retain assets that exceed your exemption. The attorneys fees run about $3000-$5000

Here are the exemptions for Minnesota:

I think this is what you wanted to know. Please let me know if I have answered your question
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