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Category: Bankruptcy Law
Satisfied Customers: 17248
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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hello, I am a fresh out of college student, and have much debt in credit cards combined is

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hello, I am a fresh out of college student, and have much debt in credit cards combined is about $8800-9000, currently have some attorneys office calling about the debt owed, im still looking for a full time job so its not that I dont want to pay but im having troubles making ends meet.this last year has been very hard for me trying to finish up college and compleatly fell behind in payments. but before that i was always on time for credit payments for years. what can i do? should i file bankrupt? i REALLY dont want to but i feel i have no choice.


Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on


At this time, filing a chapter 7 bankruptcy for such a small amount of debt may not be your best option, you may want to contact the creditors after you have stopped paying them and ask for a settlement of 50% of the balance, they will usually settle with you after you have stopped making payments after 3-6 months.


To file a bankruptcy at this point would hurt your credit and for such a small amount is not best.

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Customer: replied 4 years ago.
I'm currently a part time employee looking for a full time job thus the struggle iv been having. I have about 6 credit cards with outstanding balance owed and the attorneys offices calling me about it. If I explain my situation would they still work with me or will they sue me? I'm afraid of being sued. I dont make very much income right now.
If you explain your situation they will work with you, advise them you will have no choice but to file a bankruptcy, I would offer a 40% payment for the debts and see if they will take it, most of the time they will.