Should I file for bankruptcy if I am unable to live on my salary after paying my loans? 24 Answers as of January 16, 2014

I was in a bad situation (homeless) and I have two judgments and there are two loans through loan companies (not bank, like payday loans) that are on credit report. The total all together is more than I can handle and then be able to live on my pay. I've been on my job for a while. I need a fresh start. Should I file bankruptcy?

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GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
I think you answered your own question. The Bankruptcy Code was enacted to help the honest debtor get a fresh start. There is life after bankruptcy. I know, since I have successfully filed THOUSANDS of bankruptcies for persons just like you. The Bankruptcy Code has it origins from the Bible.
Answer Applies to: Colorado
Replied: 1/16/2014
J. Baron Groshon, P.A. | J. Baron Groshon
It would not be wise for an attorney to advise you to file bankruptcy based only on the limited information that was provided. If you are unable to pay your debts on time, then you may wish to call and make and appointment to meet with a bankruptcy attorney so that the bankruptcy attorney can obtain all of the information that he or she needs from you in order to properly evaluate your bankruptcy options and advise you accordingly.
Answer Applies to: North Carolina
Replied: 1/16/2014
Stephens Gourley & Bywater | David A. Stephens
Bankruptcy is an option, but I would need more information to be able to recommend it.
Answer Applies to: Nevada
Replied: 1/16/2014
Tokarska Law Center
Tokarska Law Center | Kathryn U. Tokarska
Please understand that we cannot provide legal advice over the internet. Whether to file bankruptcy and when is a question that would involve providing legal advice. There are various facts to consider in determining whether to file and when. You'll want to confidentially discuss your financial situation. The attorney will want to know your "current monthly income", the types and values of all of your assets, types and amounts of debts, recent activity between you and the creditors, age of the defaulted debt, size of your household, your reasonable and necessary living expenses. Answers to these and other questions go toward determining what you hope to accomplish through the bankruptcy and whether this is feasible.
Answer Applies to: California
Replied: 1/15/2014
Archer & Archer | Andrew Archer
It sounds like bankruptcy may be the best financial option for you. I would consult an attorney for advice. Most bankruptcy consultations are free.
Answer Applies to: New Jersey
Replied: 1/15/2014
    Stuart P Gelberg
    Stuart P Gelberg | Stuart P Gelberg
    Sure sounds like bankruptcy would help. Many bankruptcy attorney's offer free consults.
    Answer Applies to: New York
    Replied: 1/15/2014
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    It sounds as though bankruptcy may be a good option for you. You should schedule a consultation with a local bankruptcy attorney to review your situation. Most should offer at least a brief free consult.
    Answer Applies to: Colorado
    Replied: 1/15/2014
    Lynch Law Offices, P.C. | Roseanne N. Lynch
    The question of whether you should file Bankruptcy is one only you can answer after you learn the options and the consequences. There may be better options for you or Bankruptcy may be the only answer for you. You should consult a Bankruptcy attorney that can give you the advice you need.
    Answer Applies to: Illinois
    Replied: 1/15/2014
    Barr, Jones & Associates LLP
    Barr, Jones & Associates LLP | Andrew Brasse
    I would probably need more information on your income and the amount of debt to definitely tell you whether bankruptcy is your best option. However, if you are having difficult paying on your regular bills on your income, it should be at least considered.
    Answer Applies to: Ohio
    Replied: 1/15/2014
    Steven Meyer | Steven Meyer
    I'm sorry to hear about your situation. It sounds as if you might be a good candidate to file bankruptcy. You really should consult right away with an attorney in your area. Make sure to find an attorney who has experience in handling bankruptcy cases. Most lawyers do not. Our office has handled many bankruptcy cases.
    Answer Applies to: Florida
    Replied: 1/13/2014
    Law Office of Stuart M. Nachbar, P.C.
    Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
    You should definitely consult with a bankruptcy lawyer.
    Answer Applies to: New Jersey
    Replied: 1/15/2014
    Law Office of Robert Sisson | Robert Sisson
    Might be a good option.However there are costs involved in bankruptcy that might, in and of themselves, be prohibitive on your income. You should see an Atty who deals with bankruptcy.
    Answer Applies to: Wisconsin
    Replied: 1/15/2014
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    It sounds like you are a prime candidate for bankruptcy.
    Answer Applies to: Nevada
    Replied: 1/15/2014
    Law Offices of A. J. Mitchell, LLC
    Law Offices of A. J. Mitchell, LLC | A. J. Mitchell
    Sounds like you are an excellent candidate for a Chapter 7 bankruptcy but I need more information before advising further.
    Answer Applies to: Georgia
    Replied: 1/14/2014
    Garner Law Office
    Garner Law Office | Daniel Garner
    You definitely sound like a candidate for bankruptcy, because it is likely that the creditor(s) who obtained the judgments will be able to garnish your wages now that you are working. The only way to stop a garnishment is to file bankruptcy.
    Answer Applies to: Oregon
    Replied: 1/13/2014
    Arthur David Malkin, Attorney at Law | Arthur Malkin
    You probably would be a candidate for Chapter 7 which would enable you to discharge your debts and keep some of your assets. You should contact an attorney regarding bankruptcy.
    Answer Applies to: New Jersey
    Replied: 1/13/2014
    Patrick W. Currin, Attorney at Law | Patrick Currin
    If you have little hope of paying off old debt with your current job, bankruptcy is a good solution. Your income and assets as well as your total debt need to be examined by an experienced bankruptcy attorney.
    Answer Applies to: California
    Replied: 1/13/2014
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