Me To File?
Q: I recently enrolled in a "Debt Management" program, Careone, to be exact. In doing the math (i'm in excess of $35k in the hole in unsecured debt), and from reading some of the very helpfull posts here, I have come to realize that this is NOT going to work, and that bankruptcy is probably a better option. I am in the process of setting up a consoltation with a local lawyer. Several questions. (a) Will my enrollment in a Debt Management program hurt my chances of being able to file for bankruptcy? (b) What is the best type of bankruptcy for me to file? All of my debt is unsecured credit card debt. I do not own a home or have any assests other that my vehicle which is on a bank secured loan, which I DO want to keep. (c) Assuming I am elegible to file, how long
A: It depends on the details of your situation, your assets, income, expenses, debts and available exemptions. IOW, no clear answer without a detailed review of your circumstances by a local attorney. It takes different attorney different amounts of time to prepare a case for filing. I can do them in less than 24 hours, but others differ. Once you file, the process for a Chapter 7 typically takes about 4 months until you receive your discharge. -Really? I was told that I would have to pay the taxes? Thats good info, then again, the source was not a lawyer, so I may have misunderstood.