Money help: So I am deciding whether or not I can file for chapter 7 bankruptcy or not. - Help.com

So I am deciding whether or not I can file for chapter 7 bankruptcy or not.

I have spoken with a certified credit counselor and he said he was almost positive that I qualify. The only thing we were both unsure of was the fact that I am a co-holder on a college fund my parents saved up for me (my name and my dad’s name are apparently on it). Will this prevent me from filing chapter 7?

This open post was written 1 year, 4 months ago | V/U/S: 146, 4, 5 | Edit Post | Leave a reply | Report Post


Reciprocity (0) Reciprocation Failure -- The poster has NOT helped anyone else yet!

Since writing this post ctannur may have helped people, but has not within the last 4 days. ctannur is a verified member, has been around for 3 years, 1 month and has 6 posts and 15 replies to their name.

Post Tags (13)

college, bankruptcy, Fact, Parent, counselor, certification, Positive, File, credit, Chapter, Money, finance, chapter 7 (How Tags Affect Reciprocity)

Replies (4)

Where were you?

Click and drag to move the map around. FAQ: How we place people on this map »
You can also watch events on Help.com as they happen
Mouse over the map for 2 seconds to see an expanded, interactive view

chev.jame offline Verified User (1 year, 7 months) Long Term User Shouts: 1 #
An Unknown Location | 1 year, 4 months ago (56 minutes after post)

I don’t think so, but you need a bankruptcy lawyer to tell you for sure. I think they give free consultations.

Quote this reply Report this reply to moderators
Nyxotic offline Verified User (2 years, 4 months) Long Term User Shouts: 1 #
An Unknown Location | 1 year, 4 months ago (5 hours, 44 minutes after post)

I’m a little curious. If your name is still on a college fund that your father saved up for you, just how old are you? What do you expect to accomplish by filing for bankruptcy? How big is your debt and what kind of debt do you have?

If you’re young, I would seriously recommend not filing for bankruptcy. It is a very serious decision and will have repurcussions of its own for at least the next seven years should you ever need to make a serious purchase or get a student loan. If your so-called certified credit counselor is urging you to try to apply, I would suggest talking to a financial planner or someone with significantly more education instead as for making a plan to reduce your debt. Credit counselors are just people out to make money and they’re not particularly educated nor are they truly working for your interest, unless it happens to coincide with their own interest.

Quote this reply Report this reply to moderators
Help me with: Divorced.
joneswilliam6 offline Verified User (1 year, 4 months) Long Term User Shouts: 0 #
An Unknown Location | 1 year, 4 months ago (22 hours, 43 minutes after post)

Don’t take that step, i have a solution for you, kindly reach me for further discussion, get bact to with the following contact; i> small>(email removed) /small> /i>, thanks.

Quote this reply Report this reply to moderators
yen88u offline Verified User (1 year, 4 months) Long Term User Shouts: 1 #
An Unknown Location | 1 year, 3 months ago (1 week, 1 day after post)

As per the new bankruptcy law, if you want to file bankruptcy, you should undergo total credit counseling with an agency, which is authorized by the United States Trustee’s office. Once your bankruptcy case is over, you should undergo another counseling session to get more insights into personal financial management.
http://askaquery.com/question/New-Ban…

Quote this reply Report this reply to moderators

Invite Others to Help

A logged in and verified Help.com member has the ability to setup a Friends List and invite others to help with posts.