bankruptcy??

What is the name of your state? conn
my husband has alot of credit card problems and some other bills
he is thinking of filing bankruptcy,or get help to get back his good credit.what is the best way,do you thiink is best to do?I'm tried of them calling all the time. sassy02

[Ladynred]

There is much to consider.

How old are the debts ?
Are they any judgments ?
How much does he owe ?
Are any of the debts joint ? You must list ALL debts, you can't pick and choose. That means he has to include any mortgage or car payments.

How much disposable income does he have each month ? This is a KEY question. If he has next to nothing left over after paying all the normal living expenses then, Ch 7 is likely, but if he has $100 or more a month left over, he could be pushed into a Ch 13.

I suggest you do some reading on bankruptcy. Here's a good site to start with:

[url]http://www.thebankruptcysite.com[/url]

yes some of them he has judgements.why I asked was some friends of ours have filed before and kept there harley and truck. they even got a new truck shortly after

[Ladynred]

If you're current on your payments, you can reaffirm on mortgages and car loans and keep them. Likely that is what your friends did.

The myth that you 'lose everthing' in a bankruptcy is just that.. a MYTH, a scarey story to steer people away from bankruptcy.