If I’m a 27 year old with more credit card debt than money I make in a year, how do I go about filing for bankruptcy?

Should I file for Chapter 7 or Chapter 13?

Asked on November 30, 2013 under Bankruptcy Law, New Jersey


Anne Brady / Law Office of Anne Brady

Answered 7 years ago | Contributor

It sounds like you should probably file a Chapter 7, which would wipe out your credit card debt and allow you to start fresh.  However, if you own assets with a value that exceeds your debts, this is not a good option.  You should consult with a bankruptcy attorney who will determine whether you qualify for bankruptcy and, if so, which option is best.

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