creditcardhell Posted May 20, 2009 Report Share Posted May 20, 2009 Hi. Sorry if I am posting to the wrong spot or doing this wrong. I am the newbie on the block.I have credit card debt over 20,00.00 and lost my job last year. I have used savings to make payments and am now out. Should I file bankruptcy? I own my house and 2 vehicles (less than 2500 each). I looked at exemptions and am worried that I may be forced to sell some possessions-collections inherited.Or with no job and none in sight, should I just default on the credit cards and let them try to collect when I have no money? Link to comment Share on other sites More sharing options...
cheyenne52883 Posted May 20, 2009 Report Share Posted May 20, 2009 I worked as a legal assistant for a bankruptcy attorney for some time. Depending on how much stuff you have and what your exemptions are in your state, you may have to give up some possessions. The main problem I see, is if you are still paying on either the house or cars you will have to show the bankruptcy court that you are able to make the payments. If you can't you may have to relinquish that property too. You really should make an appointment to see a bankruptcy attorney for a consultation. Many of them offer a free initial appointment and then they will go over your situation and let you know what should be done. Link to comment Share on other sites More sharing options...
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