Here is another good question:  I’m 24, should I file Bankruptcy  I have more debt than I can even keep straight. I have a car due for repossession. I have city tickets to pay. There are countless debts. I need to know if it is a good idea to file at a young age.

My answer: It depends.  Your age is only 1 factor to consider. If you are 24, 34, or 44, struggling with debt can hold you back, and can prevent you from being able to pay your rent, or buy groceries. That is because the bill collectors can sue you and try to garnish your wages. Once that happens, you’ll be even more hard-pressed to pay for the basics of life. And, because you are young, you have many years to rebuild your credit after taking care of these problems.

Also, parking tickets are not eliminated by Chapter 7 Bankruptcy, but can be eliminated in Chapter 13 (the payment plan kind of bankruptcy). So, it is important, no, urgent, that you call a bankruptcy lawyer right away to set up a consultation to discuss your options. I offer free consultations.

Daniel J. Winter
djw@DWinterLaw.com
BankruptcyLawChicago.com
Offices in Chicago, Gurnee, Oak Lawn, and Skokie, Illinois
312-789-9999