My 26 year old daughter was just released from a hospital psychiatric unit (8 Sep06). She attempted suicide for the second time this year. She had just graduated from college and had just started teaching. She is unable to work because of the stress on her fragile psychiatric condition. She owes 12K in credit card bills, 13K on a car, and is on a 6 month lease for an apartment. Other than those bills, she owes nothing else. She will be applying for Medicaid and diability payments. We are looking for options in declaring bankruptcy for her.
Bankruptcy for our daughter
1 Comments:
Bankruptcy may be an option. There are two important factors to consider. First, her health. You should discuss this with her doctors to determine if a bankruptcy would help or hurt her mental state, since her health is obviously your primary concern.
Second, since she is not working, none of her creditors can garnishee her wages, so it may be prudent to wait to see how her condition improves. If it is likely that she will be returning to work, other options, such as Chapter 13 or even debt consolidation can be considered. You should contact a bankruptcy attorney prior to her return to work to review her options.
By Bankruptcy Expert, at 6:29 PM
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