What are my chances for a sucessfull BK?

[Canyonguy]

I am by myself,have been using savings to pay mortgage for 6 years, havent worked in over 7 years. Cant get hired at my age of 57. I refinanced (took out no money have very little equity in house) but that means its now a recourse loan in CA.My savings will be drained if I stay. chapter 7 or 11?

[jktrading]

My Dad got a job as a security guard after he retired. The pay was a bit over minimum wage. He was 65+.

Chapter 7 or 11 depends on your state's median income, and your expenses. He's a chart by state:

http://www.census.gov/hhes/www/income/medincsizeandstate.html

[HHM]

You will have a 100% successful BK (From a legal standpoint), unfortunately, your problem is a practical problem. You have no cash flow and a BK cannot solve that problem.

[Flamingo]

Is there a reason why you stopped working at age 50? However with a lengthy time like that out of the work force that is going to work more against you than your age. When you get straightened out, if you do not have any medical issues that are preventing you from working and you are not receiving any disability payments, there are courses at your nearby Community College that can benefit you even at your age...there are many folks your age and older going back to college to get their degree...What skills do you have? They are looking for tax preparers now (will train) and many employers love mature and seasoned workers since they are usually more loyal, do not party until 3:00 a.m. and call in sick the next day and have no children at home to worry about as to daycare, etc.

[AngelinaCatHub]

57 is still young in our current environment. I cannot see laying out 7 years and blowing retirement funds. There must be more to this story than is shown. I say it as I see it. 'Hub