Can I file bankruptcy if I have a 35k credit card debt?
Yes, you can file bankruptcy if you have a 35k credit card debt. However, the key word in that question is "can." Not everyone can file for bankruptcy, and not everyone will be eligible to do so.
In order to be eligible to file for bankruptcy, you need to meet very basic requirements. First, you have to be over 18 years of age. Second, your debt has to be over $10,000. Your income must also be below the median income for your state. This requirement varies depending on how many people are in your household—if you live alone, the median income requirement is higher than if you live with someone else. If you're married, your spouse's income factors in as well.
If you're ineligible for Chapter 7 bankruptcy, which is what most debtors will want to file under (it means that most of your debt will be forgiven), then you may only qualify for Chapter 13 bankruptcy (which means that a portion of your debt will be forgiven after several years). If you don't qualify for Chapter 7 or 13, then there is no option for filing bankruptcy—you'll have to pay off the credit card debt yourself.
The short answer to the question is yes, you can file bankruptcy if you have a $35,000 credit card debt. However, there are some details that might have an effect on your decision to file.
Type of Lawyer That Can Help Me File Bankruptcy?
A good attorney will be able to help you file bankruptcy, and a good way to find an attorney is by looking through your yellow pages. Look for one that has been reviewed online. The more information you have on your lawyer, the better off you'll be.
When you're looking for a lawyer to file bankruptcy, it's important to get several recommendations. If you have questions, Contact Ascent Law LLC and you can get a free consultation.
Ascent Law LLC:
8833 South Redwood RoadSuite C
West Jordan, UT 84088
(801) 676-5506
