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Buddy needs to file BK.

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What is the name of your state? CA

Buddy of mine has much credit card debt, about $45k or so. He is behind on just about all of his cards, and he has about 8 of them. Can he declare BK? What does he need to do in order to declare BK?

Might it be easier to write all of his creditors and ask them to cancel most of his debt and set up a pyament plan to get what they can. He currently gets unemployment, and can't seem to hold a job for long(I only half jokingly call him "loser").

I am wondering if BK is his only option at this point. He does not have much money coming in.
Thanks for any help.


Senior Member
He likely is a good candidate for bk. Creditors that agree to reduced balalnces, will require a lump sum payment .
Most lawyers give free initial consultations. Have him call a few.

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