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Ray, Lawyer
Category: Legal
Satisfied Customers: 41535
Experience:  30 years in civil, probate, real estate, elder law
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I live in Hawaii have no job and have $80,000 in credit card

Customer Question

I live in Hawaii have no job and have $80,000 in credit card bills that I stopped paying on 2 months ago.I own 2 houses that rent but cannot sell. I might give oneback to the bank. I have $4000 in bank and no other kinds of savings Should I look into bankrupcy or just let the credit card companys do what whey will one by one?
Submitted: 6 years ago.
Category: Legal
Expert:  Ray replied 6 years ago.
Thanks for your question.file Chapter 7 bankruptcy here and give the houses up but discharge all your debts and start over.Unfortunately you are in too deep here and this is only option to stop harassment and discharge all the debts/notes in your case.I would do this soon here and get started.
Customer: replied 6 years ago.
I want to keep one maybe both houses and all credit card debt is unsurcured so why bother with bankruptcy
Expert:  Ray replied 6 years ago.
Well the creditors card folks will get judgment and then levy on your bank accounts, garnish here and other collection efforts.The judgment liens the houses and then they will seek to try and enforce and foreclose on them.Bankruptcy would discharge all the judgments and the laons against the house.Otherwise they will continue to pursue you here.