Get Out of Debt Guy - Steve Rhode

Where Can I Get the Bankruptcy Forms to Deal With My Debt?

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Question:

Dear Steve,

Hi, I have been retired 6 years and need to file chapter 7, I am single and my rent is 90% of my take home. And I am looking for work but it seems they still check your credit history, and of course my age.

What papers form number do I need and where can I get them. This is been going on for about fives times.

My total owed under $20,000. maybe a lot less.

But returned back to school, and got my degree about 6 years ago, and owes around $56.000. which l know l cannot claim for bankruptcy.

What forms do l need and their numbers.

Thank You,

Robert

Answer:

Dear Robert,

Let’s back the bus up here. There are so many issues to deal with.

Simply having the forms to file bankruptcy is not the issue. You can find all the forms here. But I am in full agreement with the position of the United States Courts, “However, seeking the advice of a qualified attorney is strongly recommended because bankruptcy has long-term financial and legal outcomes.”

In my experience, while some people do file their own bankruptcy petition, most do it without really knowing what they are doing. That is not smart.

You mention your rent is the majority of your income. Exclusion by a future landlord may have more to do with your ability to afford the rent and not if you file bankruptcy. Generally, private landlords are a lot more lenient than a commercial apartment complex.

You don’t mention what type of student loans you have. If they are federal loans then you could consolidate them and use an income driven plan to significantly reduce or eliminate your federal student loan payment. See this post.

If these are private student loans then you should discuss how to best deal with them through bankruptcy by either pursing a discharge or a long-term repayment plan through the court.

The best advice I can give you is to go meet with a local bankruptcy attorney and don’t try to make a mess of this by doing it yourself.


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