Should I file for bankruptcy if I think my creditors still cannot collect? 3 Answers as of November 07, 2010

I owe more debt than my property is worth. I do not think my assets will be able to provide my creditors with the amount of money they need. What should I do? Should I still file for Chapter 7 and have a longer payment schedule?

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Greifendorff Law Offices, PC
Greifendorff Law Offices, PC | Christine Wilton
Remember that unsecured creditors can file a lawsuit against you to collect on the debts. Once they obtain a judgment in a Court of law, they can begin garnishing your wages and place judgment liens on the property.
Answer Applies to: California
Replied: 11/7/2010
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
There are no payments in a chapter 7. You should consult with a bankruptcy attorney to assess your options.
Answer Applies to: California
Replied: 11/6/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
Your current assets may not be enough but how about in the future? So you might want to consider filing.
Answer Applies to: California
Replied: 11/5/2010
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