When is filing for bankruptcy good option?.

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When is filing for bankruptcy good option?.

I had several credit cards when I was married All in my name. My wife left me and gave me custody of my son. I wasn’t able to pay the credit card debts. This was 12 years ago. I also had a hospital bill for my son in which I believe I have just received a writ of execution for. I’m unemployed and am currently living with parents. I have a vehicle but really no other assets. Would filing for bankruptcy be an option?

Asked on April 7, 2014 under Bankruptcy Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Based upon what you have written, you seem to be a viable candidate for a bankruptcy filing (Chapter 7) where your liabilities seem to greatly exceed your assets. As such, I suggest that you consult with a bankruptcy attorney in your locality. One can be found on attorneypages.com.


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