Actually i am a visa holder and work as a clerk in a liquor store and make hardly $1300 a month which is well enough for my rent and other bills and food. I dont see any other way to pay it.
so i am just wondering is it a good idea to file for bankruptcy and does the immigrant status matter in this case and do you have to go to the court with your attorney.
2007-10-19 21:12:56 · 6 answers · asked by aman d 1 in Business & Finance ➔ Credit
If you are not worried about future credit, you go bankrupt. But your credit will be horrible for (I think 7 years).
You could search online for debt consolidation or lower interest credit cards. Then, you could pay down debt and keep your credit history intact.
2007-10-19 21:30:41 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you file bankruptcy, you would have to go to court. You also probably won't qualify for Chapter 7 and would have to file Chapter 13 which is the payment plan. So filing bankruptcy won't get you out of your debt.
Tighten your budget and pay off the credit card. Sell the car and pay off that loan.
2007-10-20 05:00:51 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
You can file if you are an immigrant, all you need is a valid form of photo id and proof of social security card and to have filed your taxes. You have to go to a First Meeting of Creditors with your attorney, and you should really contact an attorney about it, as they can answer your questions.
I am not sure why Bdancer doesn't think you'd qualify for a chapter 7 as your income is pretty low, you would definitely qualify for a chapter 7, but I don't think you can afford to keep your car.
2007-10-23 15:44:08 · answer #3 · answered by Lesley 5 · 0⤊ 0⤋
That is not that much debt. Make arrangements with the card company or get with a non profit credit counseling place who can negotiate for you to get your interest lowered and small payments.
Bankruptcy will mess your credit up for a long time.
2007-10-20 04:23:32 · answer #4 · answered by Anonymous · 1⤊ 0⤋
u can handle credit cards just call ask them for them to close acct and also that ur having problems paying say that u were thinking in going to a consolidations comp.. but try to do it urself ask for them to lower the interest rate .. and a payment arrangement.. will help with cc's car maybe refi at a low interest rate but for the life of he contract thats left dont extnded just try to c if u can refi for a lower interest ur pyt might go a lot lower dependinh on interest try... a credit union..
2007-10-20 05:07:40 · answer #5 · answered by ccs2000@sbcglobal.net 2 · 0⤊ 0⤋
no, thats small potatoes compared to a bankruptsy on your recordr, haha, just start begging hustling and trying to get a better job!
2007-10-20 06:00:32 · answer #6 · answered by Anonymous · 0⤊ 1⤋