I will give a quick rundown of my financial situation and would like to know the general opinion of whether or not I will be able to file for Chapter 7 Bankruptcy and get my debts discharged. I also have a few debts which I would like to continue paying and will note those separately. Any suggestions for how I go about this would be appreciated.
Myself: Unemployed since August 2008 ( voluntarily resigned due to stress/mental overload- have been living off student loans and help from family).
Debts:
10 pay day loans taken out from Feb 08-May 08 Totaling approx:$4900
3 unsecured loans (Cash Call, Brookwood loans & 1st Bank of Delaware) totaling approx: $5500
13 Credit Cards totaling approx: $10,000
Now for the debt I would like to keep:
Car loan $14,000 (car is worth less than the loan now at approx 10,000)
Stafford Loans $35,000 not in repayment because i am still a college student
Private student loans with a cosigner $36,000 (also not in repayment because I am a college student)
Based on the information above- would I qualify to file chapter 7? How do I go about keeping the debt on my car and my student loans? I do not want to hurt my cosigner and will be able to get a higher paying job after college.
Additionally, my personal belongings are nothing more than a single tv, single computer (used for school) and some old furniture. Will these items be liquidated? Will they take things like kitchen table, couch, tv, computer?
Thanks for your assistance.
Myself: Unemployed since August 2008 ( voluntarily resigned due to stress/mental overload- have been living off student loans and help from family).
Debts:
10 pay day loans taken out from Feb 08-May 08 Totaling approx:$4900
3 unsecured loans (Cash Call, Brookwood loans & 1st Bank of Delaware) totaling approx: $5500
13 Credit Cards totaling approx: $10,000
Now for the debt I would like to keep:
Car loan $14,000 (car is worth less than the loan now at approx 10,000)
Stafford Loans $35,000 not in repayment because i am still a college student
Private student loans with a cosigner $36,000 (also not in repayment because I am a college student)
Based on the information above- would I qualify to file chapter 7? How do I go about keeping the debt on my car and my student loans? I do not want to hurt my cosigner and will be able to get a higher paying job after college.
Additionally, my personal belongings are nothing more than a single tv, single computer (used for school) and some old furniture. Will these items be liquidated? Will they take things like kitchen table, couch, tv, computer?
Thanks for your assistance.