I'm thinking about filing for bankruptcy I'm 21 and I don't have any property or vehicles in my name.?

I have 23,000 in debt. My mother ran up my credit cards for 11,000 and the rest of my debts are medical bills. I do not have the money to pays these off. I have a child and a vehicle that I pay for (that isn't in my name) and of course groceries and rent. My mother doesn't have any of the things that she bought on my credit and she has tried paying my cards down but now its almost impossible. Can anyone give me any advice please?

Common

Bankruptcy sounds like it might be a good option for you. Before you go and file it though, you really need to get some advice from a bankruptcy attorney. Its a fairly specialized field. At the very least, it will be worth paying for an hour to go and talk to him/her about your situation and what you can do. You may also be able to find a BK attorney that offers free consultations.

jaydubb

Bankruptcy laws have very recently changed in many states. I live in arizona and ours just changed. Used to be, when you declared bankruptcy here, all debts were dissolved. Your credit was screwed for 7-10 years. Now, when you declare bankruptcy, you STILL have to payoff most of your debts over time. See an attorney for sure!

Donna

Speak to an attorney, one that will represent you and his his bankruptcy fees.

If you have $23,000 in debt with $12,000 in YOUR medical bill. You may see to restructure that with your medical providers. IF YOU CAN PROVE that the $11,000 of Credit Cards bills are solely your mothers and you did not benefit from those expenditures --- you may be able to sue your mother for that debt.

Having a Bankruptcy on you record at 21 may make employment difficult.

Cancel all your credit cards. Have your mother pay as much as possible to you --- ignore them and then call them and offer 35% of the face cash. -- Make sure that you get a document from each credit card company that they will agree to settlethee full account for $x

Settlementcompaniess do this and charge you a fee --- Some "escrow" your money with strong admonishing NOT TO SPEAK to the CARDISSUERSS --- Then they just disappear. Settlement scams.

Remember from here on --- pay cash. Set up a nest egg for your year's rent --- Offer you Landlord a fully year's lease payment for a 10-15% discount payable in CASH.

Do them one at a time.

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