How Far Behind Do I Need to Be to File Bankruptcy? – Jay

“Dear Steve,

Live in Colorado, it’s the usual situation where there have been cut backs at work (outsourcing rrrr) and we are we will begin to fall short on CC payments by our calculations. We estimate maybe $ 200 probably depending on the sequester and barring other fun surprises and stuff.

I much do you have to be short a month to really file bankrupcy? If you are short 200 bucks on CC payments, but can pay everything else (House, utilities, ect), would they even let you file? For the sake of discussion, assuming don’t have anything to sell on ebay. Just trying to get a feel. I am sure this is happening to lots of people who read this site. I apologize if its been answered.



middle age couple

Dear Jay,

You don’t have to be behind to file for protection under bankruptcy. You also are not going to lose little things you’d sell on eBay either. The bankruptcy trustee doesn’t want your old stuff unless it has a tremendous value.

You can click here to find a local bankruptcy attorney and talk to them for free about your specific situation. Get the facts and then you can make an informed and educated decision if bankruptcy is right for you.

Bonus Video Answer

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You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Damon Day - Pro Debt Coach

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