Lizzy wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
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“Dear Steve,
My husband and I are considering filing for bankruptcy. WE have a lot of debt. We dont know how we are even going to pay next months rent. We have two little children as well. Car payments coming up… etc.
How does bankruptcy work? Will we be evicted out of our current apartment? If not, will we have to continue to pay rent? What happens to our car (we still owe on it). How do we go about filing for bankruptcy in texas?
Lizzy”
The Answer:
Dear Lizzy,
You should really call a local bankruptcy attorney and them these specific questions. They can assist you with the entire process.
In general, if you want to stay in the apartment you will need to continue to pay the rent. If you want to keep the car, you will need to continue to make the car payment. If you are going to go bankrupt, then stop paying the unsecured creditors, like credit card companies.
Use this link to find a local bankruptcy attorney. Otherwise, open the telephone book, call a few offices, see which treat you the nicest, and make a free bankruptcy consultation appointment with them and go in and talk to the bankruptcy lawyer. They are busy people, not scary.
