How do I prevent bankrupcy with all owed to creditors?

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How do I prevent bankrupcy with all owed to creditors?

I would like to make partical payments until I go to work so I donot loose anything

Asked on June 10, 2009 under Bankruptcy Law, Louisiana

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

I am a lawyer in CT.  I suggest that you contact the creditors and make arrangements to get on some sort of payment plan with them to repay the debts.  You can explain that you are contemplating filing BK as a result of all your debts, but would like to avoid it.  The creditors shoudl work with you as they will get nothing if you file.  If you do not have time to spend doing this, i suggest that you hire a lawyer to help you as it will sound more convincing coming from a lawyer and he/she may be able to get you a better deal if they have experience in this.


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