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 Roger Your Own Question
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31685
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
Type Your Bankruptcy Law Question Here...
Roger is online now
A new question is answered every 9 seconds

Bank of america is suing me card debt of $7k.. wanted to see

Customer Question

hi.. bank of america is suing me for credit card debt of $7k..
wanted to see what my options are?
Submitted: 1 year ago.
Category: Bankruptcy Law
Customer: replied 1 year ago.
this is in texas, by the way. i do not own a home. would also like to know the approximate costs of each option available to me. many thanks!
Expert:  Roger replied 1 year ago.

Hi - my name is ***** ***** I'll be glad to assist.

If you were to file bankruptcy, you should be able to have the debt discharged as an unsecured debt.....and not pay anything (or very little) based on your income. Thus, if you want to avoid the debt, that's likely the best way to approach it.

Expert:  Roger replied 1 year ago.

However, if you would like to avoid bankruptcy, you may want to try and offer the creditor a settlement and see if you can resolve the matter without a legal action. Generally, a creditor will accept a lump sum offer of half of the debt. There is no obligation for the lender to accept such an offer, but it generally will do just that if the offer is reasonable.

Customer: replied 1 year ago.
i don't need to hire an attorney to negotiate with them? just offer them about $3k? to the bank directly, or to their lawyers?
Expert:  Roger replied 1 year ago.

No, there's not much of a need to hire a lawyer. If you tell the creditor your offer and that you'll be forced to file bankruptcy if they proceed, that's about as much as a lawyer would do for you.