If I’ve lost my job and have become disabled due to osteoarthritis, how can I get out of debt?

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If I’ve lost my job and have become disabled due to osteoarthritis, how can I get out of debt?

Other than SSD, I see nothing in the future as to how to pay for anyof my credit cards or other debts; surgery for my hand alone is $15,000. My friend suggested bankruptcy. I don’t know anything about it or what to ask? I have no assets and barely a car.

Asked on March 26, 2012 under Bankruptcy Law, California

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

It would be advisable to file bankruptcy.  Chapter 7 bankruptcy is straight liquidation which eliminates your debts.

It would be advisable to contact a bankruptcy attorney.  Your County  Bar association may have a lawyer referral service that can refer you to a bankruptcy attorney.  The attorney will interview you and will obtain all the necessary information for filing your bankruptcy.  Information needed for the bankruptcy schedules (forms) includes the names, addresses and account numbers of all of your creditors including any collection agencies, your monthly income and expenses, and estimates of the value of various items of your personal property.  The bankruptcy is effective upon being filed with the court.  The court sends notice to all of your creditors which is why the creditor information is needed on the bankruptcy forms. 


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