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Advice needed regarding bankruptcy


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Posted by Frank Black (24.95.94.18) on November 07, 2002 at 16:24:02:

Hello,

I was just curious if anyone knew of a general dollar amount of debt you would have to be in before filing bankruptcy. I have ~$15,000 in credit card debt, as well as ~$15,000 left on my car loan. I have been out of work for 6 months and although I am starting a new job, it does not pay near as much as I used to make. One credit card account has already been sold to an independant collection agency.

In your mind, would it be worth it to file bankrupcty? I don't see getting a higher paying job anytime in the future (I'm a laid-off dotcommer). I'm also 24.

So:

24 years of age
$15,000 in credit card debt
$15,000 left on my car
I rent my apartment
Have been out of work for 6 months
My new job only pays 75% of what I was making.

Would you guys recommend filing bankruptcy? I realize that I am fairly young. Would the bankruptcy court have issues with that?

Thanks!


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