Can I declare bankruptcy if my income it's only $600 a month and I only live on social security? 13 Answers as of July 28, 2014

I owe my mother fifteen thousand dollars and I can pay them into credit cards.

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Law Office of William Stoddard | William Stoddard
You should not do so. SSA benefits cannot be garnished except by the IRS. Any judgment taken against you is worthless to the creditor. Try not to get into any more debt.
Answer Applies to: Washington
Replied: 7/28/2014
Barnhart Law Office
Barnhart Law Office | Bruce C Barnhart
You can file a bankruptcy. However, before you file you should speak with a bankruptcy specialist about non-bankruptcy options that may work better for you. You should stop all use of credit and credit cards.
Answer Applies to: Nebraska
Replied: 7/23/2014
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
I'm not understanding the question fully. Yes, you can file for bankruptcy. The part about your mother and the credit cards is unclear. It is against the law to run up your cards if you intend to file for bankruptcy.
Answer Applies to: California
Replied: 7/23/2014
You can certainly file bankruptcy assuming that you have not received a discharge within the last 8 year. However, if you are saying that you are going to pay your mother $15,000 from your credit cards you must be careful. That would be a preferential transfer which means that you are favoring one of your creditors, your mother, as opposed to the rest of your creditors. The trustee would have to make your mother return that money for the benefit of all of the creditors.
Answer Applies to: Minnesota
Replied: 7/22/2014
Ronald K. Nims LLC | Ronald K. Nims
You can certainly declare bankruptcy with an income that low. If you pay your mother then declare bankruptcy within 4 years, the trustee will take the payments back from your mother and spread the money out over your other creditors.
Answer Applies to: Ohio
Replied: 7/22/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    You meet one of the preliminary requirements for eligibility to file bankruptcy, but if you borrowed $15,000 from your mother to pay credit cards, that was a poor decision. Filing bankruptcy is not a decision that is made based on one or two simple factors, which is why the "free consultation" was invented.
    Answer Applies to: Nevada
    Replied: 7/22/2014
    Law Office of Melissa Botting | Melissa Botting
    There is not a minimum income limit on bankruptcy.
    Answer Applies to: Texas
    Replied: 7/22/2014
    Garner Law Office
    Garner Law Office | Daniel Garner
    Do not pay your mother in any way before you file bankruptcy. That is considered a preferential transfer and the Chapter 7 trustee will sue to recover whatever you paid her. Aside from that, you can certainly declare bankruptcy when your only source of income is social security, although you would be considered "judgment-proof" for most creditors unless they are one of the few types of creditors allowed to garnish your social security.
    Answer Applies to: Oregon
    Replied: 7/22/2014
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    Yes, there is no minimum income amount or debt amount to file bankruptcy.
    Answer Applies to: New York
    Replied: 7/22/2014
    The Law Office of M Grater LLC
    The Law Office of M Grater LLC | Mark O. Grater
    The answer is yes.
    Answer Applies to: Connecticut
    Replied: 7/22/2014
    Law Offices of Daniel J Winter
    Law Offices of Daniel J Winter | Daniel J Winter
    Yes you can file bankruptcy. It also sounds like you have a lot of credit card debt as well. But, you need to know how the process works and what the consequences will be. Call an experienced lawyer now.
    Answer Applies to: Illinois
    Replied: 7/22/2014
    Law Office of Lynnmarie A. Johnson
    Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
    You can declare bankruptcy, but any money you pay your mother in the year prior to filing is "a preferential" item and they will make her pay it back. So hopefully you haven't paid her back and you can go ahead and file.
    Answer Applies to: Michigan
    Replied: 7/22/2014
    Ferguson & Ferguson
    Ferguson & Ferguson | Randy W. Ferguson
    Yes. You need to sit down with an attorney and talk about your case. Bankruptcy consultations are normally free.
    Answer Applies to: Alabama
    Replied: 7/22/2014
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