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 Posted: Tue Jan 01, 2008 7:00 am Subject: File bankruptcy if you make enough money to pay bills? |
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My daughter and her husband are being pressured by other family members to file bankruptcy. They owe less then 50k and make more then enough to pay their bills but they are ignorant when it comes to money and refuse to work up a budget.
Can you file bankruptcy if you make enough money to pay your bills?
Plus they will get a tax return of several thousand.
Thanks!
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johnled1957
Joined: 12 Dec 2007
Posts: 19
Debtcc Points: 763
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| Posted: Tue Jan 01, 2008 9:07 am Subject: Questions on Bankruptcy |
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My husband and I make "decent" money and over the years we have gotten ourselves into 90k in credit card debt alone and considered filing bankruptcy.
I really read into it and made the decision not to file. Your daughter and son-in-law work so more than likely they will be forced into Chapter 13. Read up on it here or wherever you can. For me, it was not worth it for credit card debt alone.
Good luck!
_________________
http://www.girlndebt.com
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girlndebt
Joined: 15 Dec 2007
Posts: 108
Debtcc Points: 5231
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| Posted: Tue Jan 01, 2008 10:18 am Subject: |
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Apparently your daughter and her husband are not over-whelmed with debt. They should consider bankruptcy as a last resort. If they have decent credit they need to work out another solution to paying their debt...maybe talking with the cc companies they owe. Even if they are "ignorant" about managing their money
they would be much better off finding a debt solution company that could help...this site is very good at that if they are truly seeking financial advice.
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laura19544
Joined: 13 Aug 2007
Posts: 458
Debtcc Points: 6507
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