Which bankruptcy should I file? 31 Answers as of July 15, 2011

Unlessyou have more than $40000 in home equity, other real estate property with equity and/or vehicles with a lot of equity, Chapter 7 would be your best type.

The 2 types of personal bankruptcy are Chapter 7 and Chapter 13. It is usually not an option which one to file for, but rather which one you qualify for. Generally, if you have not filed for a Chapter 7 in the last 8 years and your household income is under the median income as determined by the IRS, then you qualify for Chapter 7. However, if your income is over the median income and you cannot pass the means test, then you do not qualify for Chapter 7 and must file a Chapter 13. There are other factors that determine your eligibility for each type of bankruptcy. ** This is a general answer to your question. It is best to consult with an attorney about your specific situation and goals for the most accurate and reliable legal advice. Good Luck!"

Most likely Chapter 7 but you would really need to meet with a qualified bankruptcy attorney to make that determination. Often a Chapter 13 will deliver more in the way of real life savings even if you qualify for Chapter 7.

The decision on which Chapter to file depends mainly on your income and assets. Based on what you described it sounds as if you should file a Chapter 7 bankruptcy. However, if you have property that could be lost in a Chapter 7 you may want to consider Chapter 13. Please contact me if you would like to discuss further.

I would need allot more information to answer that question. See a bankruptcy attorney.

If you have decided that you need to file bankruptcy, a Chapter 7 will eliminate your obligation to pay any more of your debts. A Chapter 13 will require you to pay back some of the debts from your monthly income for 36 to 60 months.

You should talk to an experienced bankruptcy attorney about doing a Chapter 7 liquidation of debt, if you have not received any prior bankutcy discharge in the last few years- 8 for Chapter 7; 4 for if it was a Chapter 13. There are many issues your attorney will need to inquire about. However, be advised that any student loan is very difficult to discharge.

Based on the information you provided, a Chapter 7 filing would probably make the most sense. You should discuss the specifics of your situation with an experienced attorney to determine the right course.

Chapter seven. Thirteen only applies if you want to pay back debt, usually to save a house. Eleven is for businesses. Twelve is for farmers and fishermen. File the seven

This sounds like a Chapter 7. A Chapter 13 would require that you have regular income that is greater than your monthly expenses and would force you to make payments to your creditors for 3 - 5 years. A Chapter 7, if you qualify, would discharge (wipe out) your credit card debts, but not your student loan debts, and would not require you to make any monthly payments to your creditors. To give you advice, I would need more information about your assets, debts, income and expenses.

Chapter 7.

You would need to speak with a bankruptcy attorney and inform them of how much you both receive on social security/income. They can then advise you on which chapter is best for your situation. With best wishes.

Your choice of bankruptcy will depend on your income level & social security, your household size, the state and county in which you live in, the total of your secured debts (house and car payments, etc.), and the amount of debt you owe. To find out more, please contact our office or visit our website at www.parkeslawgroup.com. We offer free consultation in person or over the phone. Good luck.

My preference is alwaus for a 7 because it's faster. Socoal security doesn't count fot ability to pay. Unfortinately, college loans, if govt funded, aren't dischargeable if you're able to work and may be easier to handle in a 13. Please see a bk lawyer about your specific facts.

Chapter 7 to eliminate the debts. Thank you,

If you are receiving Social Security and a pension chapter 7 may be a better choice than chapter 13. Be aware that student loans are not dischargeable in either event.

You are probably able to file a Ch 7 but you should verify this with an attorney. It is almost impossible to discharge student loans, but would obviously be easier to pay without additional debt.

Most likely Chapter 7, if possible (probably is) and if you're local in the Southern California area, feel free to give me a ring.

I gather you are asking if you should file Chapter 7, 13 or 11? Before I can analyze that I have to look at a myriad of numbers - current and past income, your expenses, your assets, your bills, and recent transactions. Note that student loans are not eliminated. My guess from your post is probably you do a chapter 7. Note that the choice is usually made for you. When one works, your numbers usually make the others not work. Since the laws are complex, and most pro se cases go badly, you want to get a lawyer.