Should I file for bankruptcy if I make $26,000 a year and have a little more than $20,000 in credit card debt? 10 Answers as of August 28, 2015

$6,000 out for an auto loan. I'm debating filing for bankruptcy. Will I qualify?

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GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
That would be a yes.
Answer Applies to: Colorado
Replied: 8/28/2015
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
You sound qualified to me base on your income, I'm assuming you don't own much.
Answer Applies to: California
Replied: 5/28/2015
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Sounds like you should qualify pretty easily.
Answer Applies to: New York
Replied: 5/27/2015
Ronald K. Nims LLC | Ronald K. Nims
Yes, you qualify for bankruptcy?
Answer Applies to: Ohio
Replied: 5/27/2015
Law Office of Michael Johnson
Law Office of Michael Johnson | Michael Johnson
You should qualify, but you should speak to an attorney to discuss your options. He or she can explain the process and go from there.
Answer Applies to: Florida
Replied: 5/27/2015
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    Engage an attorney with the details.
    Answer Applies to: Michigan
    Replied: 5/27/2015
    Patrick W. Currin, Attorney at Law | Patrick Currin
    Yes, you qualify with that income and that $20,000 will take forever to pay off otherwise.
    Answer Applies to: California
    Replied: 5/26/2015
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    There is no qualification for bankruptcy except that you believe you need relief from your debts. Your situation might suggest bankruptcy is a good idea, but a real exploration of many facts is required, which this site is not suited for. Consult an experienced bankruptcy lawyer. It's almost always a good idea.
    Answer Applies to: Wisconsin
    Replied: 5/26/2015
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    The devil is always in the details, but you owe more than half of your annual salary, so I would at least consider you as a candidate for bankruptcy. There is no easy one size fits all rule for who is eligible for bankruptcy and when it becomes a good decision.
    Answer Applies to: Nevada
    Replied: 5/26/2015
    Law Offices of Daniel J Winter
    Law Offices of Daniel J Winter | Daniel J Winter
    Sounds like you qualify, but you have to consult a lawyer to review all of your details. It's too difficult to do yourself without causing more problems.
    Answer Applies to: Illinois
    Replied: 5/26/2015
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