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Im in debt about $2000 & I want to declare bankrupcy. When I go to file do I have to pay the lawyer his charges in full or can I make payments?

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Asked by Anonymous at 3:17 AM on Feb. 17, 2010 in Money & Work

Answers (12)
  • I depends on the lawyer. We paid ours in full, but they did have a payment plan option. Are you sure you really want to file for bankruptcy with only $2000 in debt? That doesn't seem like very much.

    Answer by Anonymous at 3:30 AM on Feb. 17, 2010

  • I wouldnt declare for only 2000, don't even know if you honestly can 'cause to file it cost several grand too to my understanding? I thought you could only file for like 5 gs or more?

    Answer by Anonymous at 3:35 AM on Feb. 17, 2010

  • bankruptcy for $2000? I wouldnt do it but thats just me, That could be paid off with one tax refund, done paid over with and no 7 years of rebuilding your credit (had to do this with my DH because he and his Ex filed when they divorced its a long road).

    I know some offer payment plans but honestly for such a small amount I wouldnt do it.

    Answer by 3_ring_circus_ at 3:37 AM on Feb. 17, 2010

  • anon 35 i thought that too but i looked it up just a few minutes ago there is no minimum amout of debt to file, you can file for any amount, isnt that insane? It cost $300-500 to actually file.

    Answer by 3_ring_circus_ at 3:39 AM on Feb. 17, 2010

  • Hun, not to be mean, but if you're considering making payments to this lawyer, why not just make payments on the 2,000 debt?

    Answer by Jeda624 at 4:01 AM on Feb. 17, 2010

  • i agree with Jeda, that is smarter. If you need help managing your money there are many systems that help with that online, even ones that give counseling as you keep track of your money monthly.

    $2000 is so easy to pay off,especially during tax time and some help.

    Answer by IraqiVetWife at 6:17 AM on Feb. 17, 2010

  • I have to agree, $2,000 is NOTHING and you can easily get caught up and make payments on such a tiny amount of debt. No reason to have the red "this person filed bankruptcy" flag on your credit report for 7 years over $2,000. Instead showing you made good and paid off the debt will improve your score. Years ago my ex and I filed BK when he was injured on the job and unable to work, not counting the house we ended up over $40,000 in debt (100,000 if you include the house) and I STILL regret filing.

    Answer by Mom2Jack04 at 9:30 AM on Feb. 17, 2010

  • $2,000.. just set a budget don't screw your credit because of bankruptcy... email me if ya need help..ive done tons of budgets for people

    Answer by swaney06 at 10:40 AM on Feb. 17, 2010

  • For a lousy $2000? Try to work something out with the ones you owe. Make consistant small payments work with a non profit credit counseling service. With bankrupcy your credit is shot for 7 years. If you rent an apartment and try to move, a future landlord can refuse to rent or charge you more because you're a higher risk. Your credit card interest and other kinds will be jacked up. If you're looking for work employers consider people who declare, bad risks. They tend to be harassed by debt collectors, distracted, and it follows in employers thinking "if they can't handle their own affairs why should I trust them with mine?"

    Answer by oddfox at 11:34 AM on Feb. 17, 2010

  • It's not smart to ruin your credit for a debt of only $2k. Just work on getting your debt paid off and improving your credit score.

    Answer by ThrivingMom at 11:43 AM on Feb. 17, 2010

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