Question: I want to find out if I can file a chapter 7 bankruptcy. I've got credit card debt, medical bills and loans that I can't afford. I can barely afford the minimum credit card payments and I stopped paying the medical bills and the personal loans. I need to file to get those debt collector calls to stop because now they're calling my relatives and I don't want them to know about my debt problems.
I'm working and making about $18,000 per year at a restaurant. My wife doesn't work because she's on disability for her bad back and her anxiety and depressions issues. We have 3 kids who are ages 3, 7 and 18. The 18 year old just told us that she's pregnant, but she wants to join the U.S. Navy, which we think is a good idea. She always told us that she wanted to be a chemist, but we think that's only because her boyfriend was making meth in his home lab.
We only have one car and it's about 15 years old. Inside it smells like a wet dog because my wife tried starting a dog grooming business.
We rent an apartment in Roswell. The apartment is actually in my cousin's house, but the rent is pretty cheap.
Do you think I can file a chapter 7 or will I have to file a chapter 13?
K.M. in Roswell, GA
Answer: From what information you have provided, it sounds like you will be able to file a chapter 7 bankruptcy. Your income is very modest, your wife isn't working and you have 3 children, which are all good signs for a chapter 7. Generally speaking, a larger family size will help you qualify for a chapter 7.
So far, you have said nothing that would cause us to think that you would need to file a chapter 13.
A chapter 13 is generally for people who have a greater income and more substantial assets than you describe. In fact, you haven't mentioned that you have any notable assets at all.
From what you describe, we are highly confident that you will be able to file a chapter 7 bankruptcy.
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