I just got my car repoed and have creit card debt and own a house, i am 25 years old and was wondering if bankrupcy is the right choice for me
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I am a lawyer in CT and practice in this area of the law. If the car got repoed and you havecredit card debt that the montly payment exceeds 20 % of your net monthly income, then you may want to consider the BK filing. However, this will make it hard for you to get a car loan. however, you are young enough where you can repair your credit in time to raise your credit or the future for another house or car or signing a loan for your children. I suggest hiring a BK lawyer to review your debts on paper to make this decision.
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