Is Chapter-7 Bankruptcy right for me?

I am sued by Capital One for $2500. The court sent me the summons on Aug 17 2007. And it say I enjoy 30 days to database a written response to the court. I own be redundant for a year already. I can't reimburse my bills anymore because of the mounting debt, give or take a few $ 30,000. I hold never file the ruin up to that time. Is it possible for me to report the Chapter 7 liquidation? If I database the BK, will the Capital One lawsuit against me stir away? Any suggestion? I stipulation your facilitate. Thanks deeply.

Answers:
When you record for collapse, the statute department that you walk to will determine whether you qualify for a Chapter 7 base on your income. This is call going through a "channel test". If your income is too illustrious, you would own to profile a Chapter 13 Bankruptcy instead, classification you would hold to repay a percentage of your debts fairly than have them totally liquidate through a Chapter 7 Bankruptcy.

Once your ruin is finalized, adjectives lawsuits, garnishments - etc. will be stopped.
In your Local. County Office Building... in attendance is usually Free Legal Aid... one or two days a week!

Check at hand First... or your Local Law Library!

" Whats In YOUR Wallet ? " Capital ONE ?

Thanks, RR

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