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  1. #1
    Join Date
    Sep 2016
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    13,916

    Default How to Deal With Overwhelming Debts

    What do you do if you have overwhelming debts from credit cards and medical bills, with most of your income going toward payments. The debtor has been using payday loans to keep up with bills, but as a result he gets deeper into debt every month. He's an apartment renter, not a homeowner, and he lives alone.

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
    Posts
    98,817

    Default Re: How to Deal With Overwhelming Debts

    It sounds like the borrower should consider Chapter 7 bankruptcy.

    If the borrower's income is too high for Chapter 7, then Chapter 13 bankruptcy remains as an option, but given the facts described I suspect that the borrower will qualify under the Chapter 7 means test.

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