Can you file bankruptcy if you are not a homeowner?

I am 24 and have little to no knowledge of bankruptcy. My husband and I are in over our heads in debt. We are constantly hounded by debt collectors for medical bills, student loans and personal loans to name a few. We however do not own a home, so we are not homeowners. Currently, we are unable to satisfy all of our debts to the people we owe. Are we still eligible to file bankruptcy or what other options do we have?

Asked on July 1, 2014 under Bankruptcy Law, Virginia


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

First of all, you do not need to be a homeowner in order to be eligible to file for bankruptcy. Secondly, there are alternatives to filing such as debt consolidation programs; it all depends on the size of your debt and the amount of your income. However, it sounds as though your bills and other financial obligations might be high. Depending on your collective income, bankruptcy might be the right solution for you (just note that your student loans may not be able to be discharged). At this point, you should speak with a bankruptcy attorney. The sooner you do, the sooner you may be able to get the collection calls, etc. to stop. Even if you decide not to file, paying for an hour or so of their time might be quite helpful in making your decision as to what to do.

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