How can I file bankruptcy on fixed income? 10 Answers as of April 28, 2016

I have a debt consolidation loan with a high-interest rate that I'm trying to dispose of.

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Debt consolidation is generally a rip off. Stop the payments and save up for a bankruptcy.
Answer Applies to: California
Replied: 4/28/2016
Ronald K. Nims LLC | Ronald K. Nims
Yes, the source of your income doesn't matter in bankruptcy, only the amount of income matters.
Answer Applies to: Ohio
Replied: 4/27/2016
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
I'm not sure what you are asking. Fixed income or some other kind, almost anyone can file a petition in bankruptcy although depending on your situation you might be required to file under Chapter 13 (where you make payments over 3 or 5 years) rather than old-fashioned straight bankruptcy (Ch. 7). Are you asking how you would pay your lawyer, since it would be difficult on a fixed income? In almost every city there are public or private law firms which represent people at a reduced fee. Also many private lawyers, believe it or not, have hearts, and would be willing to set up a payment plan.
Answer Applies to: Wisconsin
Replied: 4/26/2016
Stephens Gourley & Bywater | David A. Stephens
Yes you can.
Answer Applies to: Nevada
Replied: 4/26/2016
Bird & VanDyke, Inc.
Bird & VanDyke, Inc. | David VanDyke
Just file it. A fixed income situation is not s problem for chapter 7.
Answer Applies to: California
Replied: 4/26/2016
    GARCIA & GONZALES, P.C.
    GARCIA & GONZALES, P.C. | Richard N. Gonzales
    You sound "judgment proof". You may not need to file.
    Answer Applies to: Colorado
    Replied: 4/26/2016
    Law Office of Joshua R.I. Cohen
    Law Office of Joshua R.I. Cohen | Joshua Cohen
    Why bankruptcy? If you're on a fixed income, do you mean social security? If so, what are you worried about? Social security cannot be collected for a debt. You should talk to a local consumer attorney who can tell you all of your options. Bankruptcy may not be your best option, and may not be your cheapest.
    Answer Applies to: Connecticut
    Replied: 4/26/2016
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    Most people?s income is fixed, since few of use have a money tree growing out the in back yard. There are three issues that need to be addressed before answer the how can you file, and those are how much debt do you have, are you eligible to file, and do you need to file. Regrettably, you have failed to provide any of the necessary information to address these issues. It would be a shame for you to put yourself through the ordeal of bankruptcy only to discover that you are not eligible for the benefits, have your efforts cancelled by a dismissal of your case, and finding that you did not need the benefits bankruptcy provides.
    Answer Applies to: Nevada
    Replied: 4/26/2016
    Edelman, Combs, Latturner & Goodwin, LLC | Daniel A. Edelman
    A fixed income does not disqualify you from filing bankruptcy. If the source of the income is such that it is not subject to garnishment (e.g., Social Security) and you have no other assets that a creditor can reach, you may not want to spend the money to file bankruptcy, but that is a different issue. Contact a bankruptcy attorney to review your facts.
    Answer Applies to: Illinois
    Replied: 4/26/2016
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    Bankruptcy is meant for those that have a fixed income. I encourage you to seek legal counsel to discuss your specific situation.
    Answer Applies to: Nevada
    Replied: 4/26/2016
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