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When applying for Bankruptcy-- what questions should I be…

When applying for Bankruptcy-- what...
When applying for Bankruptcy-- what questions should I be asking a lawyer??
This is the case:
23 year old Student with no assets - Student loans and Credit Card debt that they can not afford to pay off and still have money to eat and gas to get to and from work/school
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Answered in 5 minutes by:
1/16/2018
DrakeLAW
DrakeLAW, Attorney
Category: Bankruptcy Law
Satisfied Customers: 1,038
Experience: Attorney at Drake Law Firm PLC
Verified

Hi, my name is ***** ***** I look forward to helping you, please give me a moment to review and possibly research answers to your question.

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Well, one, your student loans are not dischargeable, are you aware of that?

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Customer reply replied 7 months ago
thank you. I am concerned about my daughter meeting a bankruptcy lawyer tomorrow morning. Yes, we are aware that the student loans are not dischargeable. She unfortunately has gotten herself between and rock and hard place with approximately 10,000 dollars in debt with credit cards that she can not manage the payments on.

Well I don't know. That is really not a heck of a lot to file over. I wouldn't advise a client to file over that much unless they badly needed their credit to recover.

Is your daughter working or soon to be working?

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Customer reply replied 7 months ago
She is a full-time student and working also. One of the main problems is that come a bit later this year, she will be enrolled into a full time 40 + hours a week nursing course and driving an hour each way. With that kind of load on her as well as the gas money..ect....I can't see her making enough to pay these bills and she just got her first court notice for a warrant in debt that is scheduled for court on Feb. 6th

Sounds like she is getting into a good job path so that is good news.

Alright, if she ignores the Warrant, they will get a judgment and want to garnish her. But if she isn't employed, then there are no wages to garnish. She could work out reasonable settlements on these at some point down the road instead of filing bankruptcy. The other thing is she can always file bankruptcy at any stage and it will stop garnishments and anything else in effect instantly.

The decision is up to her, but those are the tradeoffs. That is really all I would be asking the lawyer if I were her. If it is worth it to file over that amount. Her case would be so easy it would also be almost a sin to pay a lawyer to do it unless it is really affordable.

Please kindly rate the question so I may be credited. Thank you. You can still ask follow-up questions.

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Customer reply replied 7 months ago
My other concern I don't think you would know about and that is if she does file for Bankruptcy would that affect her in any way when it comes time to enroll in the Nursing Program and obtaining financial aid for it......

No. Bankruptcy law does not allow the filing of bankruptcy to be used against the filer for any purpose.

The financial aid question is a great one though. I don't know if any bankruptcy attorney will know the answer to that unless they have happened to deal with that issue before. So that is also a question she should definitely ask. That is one answer I would want to know with certainty before deciding. I can see it both ways, on the one hand, the bankruptcy clears her debts and improves her credit score. On the other hand, maybe having the debt helps her qualify, although I am not sure that having a judgment on her credit report will be helpful.

That is a very different question than bankruptcy and you should try to know for sure.

DrakeLAW
DrakeLAW, Attorney
Category: Bankruptcy Law
Satisfied Customers: 1,038
Experience: Attorney at Drake Law Firm PLC
Verified
DrakeLAW and 87 other Bankruptcy Law Specialists are ready to help you
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Customer reply replied 7 months ago
Thank you for your time - greatly appreciated - no more questions at this time.
I will provide an excellent rating for you!!

Thank you so much. If you have any other questions you want a second opinion on after she talks to the lawyer, feel free to come back to this question for follow-up. Take care.

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