I Want To File Bankruptcy

Consolidating your debt will help you and there are many ways to do that. One of them is a debt consolidation loan. It entails getting a loan to pay of your other loans. It's a short-term solution to your problem. But be careful because you would have another debt to worry about.

I think it should be a complicated process, so you can ask for the related department.

You asked what are some other consequences? Well, if you are thinking I want to file bankruptcy and that you won't have to pay anything back you are wrong.

Even if you do qualify for Chapter 7, you must turn over all of your non-exempt property to the court appointed trustee handling your case. He or she will then sell that property and use the proceeds to pay off a portion or all of your debts.

doesnt the same apply for chapter 13.i am confuse.

Regarding the counseling session that is required, as said in a previous post, does that have to be done in your State of residence or can one go ahead and do a session in another State? (Soley because I'm out-of-state right now.)

I want to file bankruptcy but I still make a good amount of money and have some assets (I just can't get rid of this debt). Do you think that I can get the debt discharged through a Chapter 7 or no?

Let's assume you qualify for Chapter 7 (and that is highly unlikely if your income is fairly high). Even still, you mentioned you had assets. While it depends on state bankruptcy laws, it is possible that those assets are not exempt from liquidation.

That means that you would be forced to turn over the assets to the court appointed trustee who is handling your case. The trustee would sell of those assets, and in turn use the proceeds of those sales to pay off your debt. Depending on how much you owe and what your assets are worth, it is possible that it covers a large portion of the debt, and only very little is actually discharged.

But as I mentioned before, the primary issue is whether or not you would qualify. What will happen is this- they will match your income up against same sized households in your county for the last 6 months. If your income is higher- you will have to pass the Means Test in order to qualify for Chapter 7. So, once again, if you are still earning a lot you would most likely fail to qualify in the first place.

As a result, instead of thinking right off the bat, "I want to file bankruptcy," you may want to consider a bankruptcy alternative instead.  

So. I want to file bankruptcy. Do I need to hire a lawyer or can I just self-represent?

I want to file bankruptcy I think because of the tax debt that I have...what do you think good idea?