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I'm a 70 year old man living on SSI with $50,000 on credit card debt and student loan debt. Should I file bankruptcy? Which one will be better - Chapter 7 or Chapter 13. Will I lose my home?

You can't discharge student loan debts in bankruptcy unless you pass the Brunner Test.

Social Security Income and Supplemental Security Income is exempt from consideration when determining the Means Test and the Best Efforts Test. For purpose of disclosure, list it as income but exclude it from any calculation when you're filing bankruptcy.

So you shouldn't consider bankruptcy at this moment. You can try to settle your credit card debt. But you need to save money for that. Can you do that?

Sub: #1 posted on Thu, 11/01/2018 - 02:26

David Martin David Martin

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