If you don’t own a home, car, or property is it easier to file bankruptcy?

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If you don’t own a home, car, or property is it easier to file bankruptcy?

Make only $466 a month from VA Benefits. My debt is $6,100 from 2 credit card sources. There is an order for a bank levy on my account. What are my options?

Asked on September 30, 2011 under Bankruptcy Law, California

Answers:

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 9 years ago | Contributor

Bankruptcy is certainly an option, although that is a relatively low amount of debt to be filing bankruptcy on.   To use an attorney, it's probably going to cost you $1,500 or so to file a Chapter 7 case, so you need to weigh the costs and benefits.

You can also simply not leave money in your bank accounts.  If you have no other assets, there isn't much the creditors will be able to do.

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

bankruptcy blog: http://bklaw.com/bankruptcy-blog/

Follow Me on Twitter:  @bklawr

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 9 years ago | Contributor

Bankruptcy is certainly an option, although that is a relatively low amount of debt to be filing bankruptcy on.   To use an attorney, it's probably going to cost you $1,500 or so to file a Chapter 7 case, so you need to weigh the costs and benefits.

You can also simply not leave money in your bank accounts.  If you have no other assets, there isn't much the creditors will be able to do.

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

bankruptcy blog: http://bklaw.com/bankruptcy-blog/

Follow Me on Twitter:  @bklawr


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