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jennlvan · Mar 30, 2008, 06:57 AM

I am really worried that I might have to file bankruptcy but, I don't know what kind. I am around 115,000.00 in debt with all my bills and I am really struggling, my credit score is around 530. I just bought 2 new trucks last month for my daughter and I but, I am in school to further my nursing career and I don't work as much which one should I file if I don't want to lose anything just one monthly bill and help my credit score if there is such a thing?

N0help4u · Mar 30, 2008, 07:24 AM

You can file bankruptcy and list the things you are still able to pay on to keep.
I am not totally sure how much assets you are allowed to keep since the laws changed a couple years ago.

Here are some sites that might help

Bankruptcy - Chapter 7 - The Law Offices of Gerald Chefalo

Bankruptcy - Resource Center

JudyKayTee · Mar 30, 2008, 09:03 AM

Originally Posted by jennlvan

I am really worried that I might have to file bankruptcy but, I don't know what kind. I am around 115,000.00 in debt with all my bills and I am really struggling, my credit score is around 530. I just bought 2 new trucks last month for my daughter and I but, I am in school to further my nursing career and I don't work as much which one should I file if I don't want to lose anything just one monthly bill and help my credit score if there is such a thing?

Only an Attorney can address your State, your exemptions, your best choices.

Also check with your State's licensing department before you do anything - in certain States a Bankruptcy can affect your chances to be licensed. I know it's true of Attorneys and Pharmacists. The various professional associations complain about it all the time. The Licensing Divisions argue that financial insolvency makes a person more "open" to illegal fund-raising activities; the professions argue there is no connection. Same if you're a Federal employee.

If you bought 2 new trucks last month and suddenly you can't pay for them you CAN be charged with fraud - making a purchase and intending to discharge the debt in bankruptcy.