Bankruptcy

Posted on Friday, September 12, 2008

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I am unemployed & have no assets, (ie: Jewerlly, cars, money, house, or antiques). Is it still a good idea to file for bankruptcy knowing the creditors gain nothing from me still, or should I just wait out the 5 yrs and keep telling them I have no money to pay them back?

Filed under: Bankruptcy
 posted by Questions @ 10:58 am
1 Expert Comment:

 At September 15, 2008 | 6:16 am , Barton Goth GCO Bankruptcy Trustees Said...

This depends on a couple of things.

First, do you anticipate your employment situation changing in that 5 year time frame. If you do and are still not able to satisfy your creditors demands then you may need to look at the filing of a bankruptcy or a proposal.

Second, how do these phone calls affect you? Does the stress impact your heath. If they don’t affect you and you don’t anticipate your employment situation changing then you may have no need to investigate bankruptcy. Now if the stress does have an impact then you may want to consider the filing of a bankruptcy solely because it will stop the harassment.

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