Posted on: 08th Jun, 2009 05:19 pm
Can i claim BK at the age of 21?
Hi, Yes you can. Im sorry about your situation. May i ask how much debt you have or why your claiming a bk at such a young age?
hi jcmagana,
filing bankruptcy at such a young age?? as far as i know, age is not a factor for filing bankruptcy. so you may qualify for bankruptcy. which chapter of bankruptcy are you planning to file?
do you have a mortgage which you are unable to pay and thus decided to file bankruptcy? if that's the case, then i would suggest you to speak to your lender and check out if you take advantage of loan modification. this will help you in saving your credit as well as your property.
if you have unsecured debts like credit card bills or medical bills, then you can try for a debt settlement. this will help you in negotiating and reducing the outstanding debt by 40%-60% of the amount you owe. your creditor will forgive the remaining debt thereby helping you to get out of debt faster.
thanks
filing bankruptcy at such a young age?? as far as i know, age is not a factor for filing bankruptcy. so you may qualify for bankruptcy. which chapter of bankruptcy are you planning to file?
do you have a mortgage which you are unable to pay and thus decided to file bankruptcy? if that's the case, then i would suggest you to speak to your lender and check out if you take advantage of loan modification. this will help you in saving your credit as well as your property.
if you have unsecured debts like credit card bills or medical bills, then you can try for a debt settlement. this will help you in negotiating and reducing the outstanding debt by 40%-60% of the amount you owe. your creditor will forgive the remaining debt thereby helping you to get out of debt faster.
thanks
if it is related to mortgage, you have some options such as
Special Forbearance, Mortgage Modification, Partial Claim, Pre-foreclosure sale, Deed-in-lieu of foreclosure
Special Forbearance, Mortgage Modification, Partial Claim, Pre-foreclosure sale, Deed-in-lieu of foreclosure
personally i do not think it is a good idea to claim BK at such a young age. It will not do good to your future.
With a BK young age works in your favor you have time on your side to fix things and still be young. Im not so sure why you would have a situation bad enough to file for BK at 21.