Do you think we can qualify for bankruptcy? 30 Answers as of August 25, 2014

My husband and I are struggling to make ends meet. Paycheck to paycheck, hard to make mortgage payments and car, medical bills, etc. I took a less paying job to stay at home and we adopted beautiful children in last 2 years. I am not sure how much longer we can keep doing this. Stressed, scared, depressed and tired.

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Moore Taylor Law Firm, P.A.
Moore Taylor Law Firm, P.A. | Jane Downey
Most people do qualify. Hang in there.
Answer Applies to: South Carolina
Replied: 8/25/2014
Stephens Gourley & Bywater | David A. Stephens
You probably qualify.
Answer Applies to: Nevada
Replied: 8/22/2014
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
You should see a local attorney to discuss but generally if you are below the income level for your area then you can qualify for bankruptcy.
Answer Applies to: New York
Replied: 8/22/2014
Law Offices of Linda Rose Fessler | Linda Fessler
It sounds as if you could qualify for a Chapter 7 bankruptcy.
Answer Applies to: California
Replied: 8/22/2014
Barnhart Law Office
Barnhart Law Office | Bruce C Barnhart
To qualify for a bankruptcy you must not be able to pay your debts as they come due. However, there are some restrictions regarding the type of discharge that you may receive. A previous bankruptcy discharge may disqualify you from certain new discharge orders. High income may disqualify you for a chapter 7 discharge. Extremely high debt may disqualify you from a chapter 13 discharge. You should seek the advise of a bankruptcy specialist to discuss your bankruptcy options.
Answer Applies to: Nebraska
Replied: 8/22/2014
    Ferguson & Ferguson
    Ferguson & Ferguson | Randy W. Ferguson
    It will take a lot more information to know. Talk to bankruptcy attorney for free.
    Answer Applies to: Alabama
    Replied: 8/22/2014
    Law Offices of Eric W. I. Anglin
    Law Offices of Eric W. I. Anglin | Eric W. I. Anglin
    You need to contact a bankruptcy attorney or two to discuss your options. Many of us do offer free consultations.
    Answer Applies to: Indiana
    Replied: 8/22/2014
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    Determining eligibility to file bankruptcy requires a comprehensive analysis of your specific information (assets, debts, income, expenses, etc.) by an experienced bankruptcy attorney. You haven't stated any specifics about your situation, but it certainly seems like bankruptcy is an option to explore. Why wouldn't you? The initial consults are usually free and you have nothing to lose, and may find the solution to all your debt problems.
    Answer Applies to: California
    Replied: 8/22/2014
    Eranthe Law Firm
    Eranthe Law Firm | Cate Eranthe
    You sound like exactly the type of people the law was written to help. To determine if it is the best option for you go see a local,knowledgeable bankruptcy attorney who can evaluate your situation. There are many factors to consider before filing. Please get help. Good luck!
    Answer Applies to: California
    Replied: 8/22/2014
    Paul Stuber, Attorney at Law
    Paul Stuber, Attorney at Law | Paul Stuber
    It is most likely that you qualify. You should contact an attorney and find out.
    Answer Applies to: Colorado
    Replied: 8/22/2014
    If you have received a discharge in the last 8 years and your total gross income is less than $92,250 you file a Ch 7 Bankruptcy. Even if your income is higher than that you may be albe to file a Ch 13 Bankruptcy.
    Answer Applies to: Minnesota
    Replied: 8/22/2014
    Ronald K. Nims LLC | Ronald K. Nims
    Almost anyone in financial distress can file bankruptcy, the question is which type of bankruptcy and whether bankruptcy is a viable method to end your financial problems. In your case, where your expenses every month exceed your income, a Chapter 7 bankruptcy would eliminate your existing debt but you would be back in the same position quickly unless you either increase your household income or reduce your household expense.
    Answer Applies to: Ohio
    Replied: 8/22/2014
    Patrick W. Currin, Attorney at Law | Patrick Currin
    Probably from the sound of it. A bankruptcy can help you get rid of old debts and start fresh. You should consult with a bankruptcy attorney in your area. You can have creditors off your back in a few days and in 120 days you can have those debts discharged forever.
    Answer Applies to: California
    Replied: 8/22/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    Qualifying to file bankruptcy is about doing 5th grade math. If the math on your budget shows you can not afford to pay anything over your living expenses, you will qualify for bankruptcy, provided you have not filed & received a discharge during the past 8 years. Pre-bankruptcy credit counseling, available online, can help you to perform this task. You must complete this counseling class before being able to file any form of bankruptcy.
    Answer Applies to: Nevada
    Replied: 8/22/2014
    Philip R. Boardman, Attorney at Law
    Philip R. Boardman, Attorney at Law | Phil Boardman
    You sound like a perfect fit for bankruptcy. You really should set up a free bankruptcy consultation.
    Answer Applies to: Virginia
    Replied: 8/22/2014
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    I suggest that you set a consultation with a qualified attorney to discuss your options. There is always a bankruptcy that would fit your needs, whether a Chapter 7 or a 13 depends on the facts and circumstances of your case.
    Answer Applies to: Nevada
    Replied: 8/22/2014
    Hayward, Parker, O'Leary & Pinsky, Esqs.
    Hayward, Parker, O'Leary & Pinsky, Esqs. | Michael O'Leary
    Your scenario sounds very typical for a bankruptcy candidate. You should contact competent local bankruptcy counsel and arrange a consultation. You will get your questions answered, and your stress level will probably be reduced instantly.
    Answer Applies to: New York
    Replied: 8/22/2014
    Elliott Law Firm, PC | Michael K. Elliott
    It depends on your income and expenses. There are income restrictions regarding filing Chapter 7 versus Chapter 13 and you would not know what those are until you speak with a qualified bankruptcy attorney. If you are truly having trouble making ends meet and essentially "robbing Peter to pay Paul" to each month then bankruptcy may be a good solution to get you back on your feet again.
    Answer Applies to: North Carolina
    Replied: 8/22/2014
    Garner Law Office
    Garner Law Office | Daniel Garner
    The definition of bankruptcy is the inability to pay all your bills when they come due. Therefore, it sounds like you do qualify for bankruptcy. If you're wondering which chapter of the bankruptcy code you qualify for, that is a more difficult question which can't be answered with the facts you have provided. You might not even need to file if you can find ways to live within your means. You chose to cut back on your pay so you could devote more time to your children, and that decision has financial consequences. Perhaps you could look into a mortgage modification to reduce your mortgage payments, or take a hard look at any car payments you are making. Cars come in all shapes, sizes and prices. It sounds like you still have many options!
    Answer Applies to: Oregon
    Replied: 8/22/2014
    The Orantes Law Firm
    The Orantes Law Firm | Giovanni Orantes
    You are not providing enough details to determine whether you qualify and for what chapter you qualify. For Chapter 7, you qualify principally based on your income and your expenses over the last 6-7 months (note that expenses are standardized and are allowed under the BK system as you may imagine, if we simply qualified based on what the debtor wants to spend, debtors would simply find ways to spend all their money). The nature of your debts may also allow you to qualify for a Chapter 7 despite earning sizable income. However, even if you qualify for a Chapter 7 case, other factors may advise strongly against it and, as an attorney, I have to look out for your convenience instead of my desire to get get paying clients and I have previously advised people to stay away from the bankruptcy system on more than one occasion. If you don't qualify for a Chapter 7 case, you may still qualify under Chapter 13 and 11, both of which have different requirements. We are one of the few law firms that specialize in representing all kinds of clients in cases in all of such Bankruptcy chapters.
    Answer Applies to: California
    Replied: 8/22/2014
    John Ceci PLLC
    John Ceci PLLC | John Ceci
    Any time you are struggling to pay your basic expenses and your financial situation is such that things may not change any time soon then bankruptcy is something to at least consider. You should consult with a local bankruptcy attorney to discuss your particular situation further.
    Answer Applies to: Michigan
    Replied: 8/22/2014
    R. Steven Chambers PLLC | R. Steven Chambers PLLC
    There is no qualification in terms of how much debt you have. There may be considerations over which chapter of bankruptcy to file, Chapter 7 or 13 being the most common. The best thing to do is contact a bankruptcy attorney who will explain your options. Most, like myself, offer a free initial consultation usually lasting 30 minutes.
    Answer Applies to: Utah
    Replied: 8/22/2014
    Cohen & Kendziorra, P.A.
    Cohen & Kendziorra, P.A. | Robert S. Cohen
    To determine whether you qualify for a Chapter 7 bankruptcy, I would need to know more information such as your gross income and your monthly expenses such as car loans, mortgage and so on.
    Answer Applies to: Florida
    Replied: 8/22/2014
    Danville Law Group | Scott Jordan
    Hard to say, but probably. A bankruptcy attorney would want to ask more questions to understand your finances and to evaluate what can be done for you.
    Answer Applies to: California
    Replied: 8/22/2014
    Law Office of Marlin Branstetter
    Law Office of Marlin Branstetter | Marlin Branstetter
    I would need to know more about your income and total debts to answer. I would suggest you call a local bankruptcy attorney and explain your situation to him/her. Most attorneys are willing to give you a free consultation to determine if bankruptcy is a good option for you. Good luck.
    Answer Applies to: California
    Replied: 8/22/2014
    Tokarska Law Center
    Tokarska Law Center | Kathryn U. Tokarska
    There is not enough information here to make that judgment. You will need to sit down with a Bankruptcy attorney and disclose your financial situation, the devil is in the details. They will want to know about the types and extent of your debts (talking numbers here), they'll want to calculate the average income received in the last 6 months, look over your living expenses. There is no short cuts to answering this question. Many BK attorneys offer free consultation so you just invest some time (putting the needed information together and a consult at the office). Some attorneys will go over some preliminary questions over the phone before they schedule an appointment. It's in their interest to do so because if your case is not viable or there are some complications as far as timing of the filing they'll want to know that upfront. If it's a good potential case they will want to meet with you to go over the details. Call 2-3 people in your local area. I find that many people procrastinate doing this until the suffering of not doing it outweighs the suffering of doing it. I typically also discuss alternatives to BK whenever circumstances are such that potentially an alternative can be of help.
    Answer Applies to: California
    Replied: 8/22/2014
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    See a lawyer, consults are free (and if they don't offer a free one, see someone else). There is not enough information here for me to answer this.
    Answer Applies to: California
    Replied: 8/22/2014
    Dickson Law Group, LLC
    Dickson Law Group, LLC | John P. Dickson
    Assuming you have a household size of 4 people, if your annual gross (i.e. pre-tax and deductions) household income is $82,876 or less, and if you have not received a bankruptcy discharge before, you likely qualify for a Chapter 7 bankruptcy, which is what most people think of when they talk about bankruptcy. The large bankruptcy operations with TV ads usually charge for an initial consultation with an attorney, and local attorneys usually do not charge for the initial consultation.
    Answer Applies to: Illinois
    Replied: 8/22/2014
    Bensamochan & Poghosyan LLP | Eric Bensamochan
    It will all depend on your total gross income versus your expenses. Having children in the home will help expense wise. As long as you are not going overboard and don't have a large amount of equity in property, you will most likely qualify for Chapter 7. Chapter 13 is another option, where you pay a percentage to the unsecured creditors if your income is too high for Chapter 7. This percentage can be as low as 1% sometimes.
    Answer Applies to: California
    Replied: 8/22/2014
    Marc S. Stern
    Marc S. Stern | Marc S. Stern
    The only way to tell is to meet with a competent bankruptcy attorney and go through the facts. Someone competent will tell you whether filing makes sense or not.
    Answer Applies to: Washington
    Replied: 8/22/2014
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