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We are couple in eighties and nineties with high credit card…

Customer Question
We are couple in...

We are couple in eighties and nineties with high credit card balance and low income, needing to evaluate bankruptcy ?

Lawyer's Assistant: What state are you in? And has anything been officially filed?

California

Lawyer's Assistant: Has anything been filed or reported?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Can,t think of anything

Submitted: 6 months ago.Category: Legal
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Answered in 6 minutes by:
1/2/2018
Lawyer: Lori, Attorney replied 6 months ago
Lori
Lori, Attorney
Category: Legal
Satisfied Customers: 2,104
Experience: Attorney with over 25 years experience
Verified

You may wish to consider bankruptcy as you may qualify based on the means test. However, you need to evaluate your assets. Do you have any assets that a creditor may attempt to seize or lien? Do you own a home?

If you do not have an attachable assets and each of the credit cards are your individual name (in other words, not joint names on both cards), then your credit card company will have nothing to go after if you stop paying. May not be worth the hefty filing fee of a Chapter 7 bankruptcy.

Hope that helps. Please remember to accept my response so I get credit of providing assistance.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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