Is bankruptcy right for me?

Have you talked with this particular creditor to see if you have any options that would stop the lawsuit?

Even if the lawsuit continues, you can take your budget information with you to court (income and expenses) to show the judge, and the creditor may not get a judgment. The only way that they will get an automatic judgment is if you don't show up.

Has you debt reduction program been in contact with your creditor to see if they are willing to work something out?

Yes,
They tried to offer them a proposal, but they are not the original creditor, they refused, they contacted me, when I agreeded to pay them a certain amount, they said they would accept but still enter a judgement, since that call, I have not received the settlemene letter.

I want to file Bankruptcy...
which one should i go for it i mean for 7 or 13?

Which one is right for you depends on several factors, such as whether you own property, and if so, what your equity is in the property and whether your payments are up to date. Also, it would depend on what your income is because you have to meet the means test in order to qualify for Chapter 7. Also, it would depend on whether you have other assets that you would want to protect, what your debts are, etc.

Most bankruptcy lawyers give a free initial consultation, and it might be a good idea for you to meet with one to determine which course would be best for you.

i am 83 years old i am on ssi and food stamps i don't own anything the credit card company keeps calling me and they want to sue do i have to file for bankruptcy if i don't have any money

Mr. Tow charge me less of my series of consulation with him.

Popov...your statement makes no sense.

Guest, if all your income is SSI, then technically you are judgement proof, meaning if the creditors sue you they cannot garnish your bank account...it is safe from the creditors. I would suggest you speak with a few attorneys to find out what is the best course for you. Beware that BK attorneys make money only when people file so they may try to pursuade you to go that route...talk with a legal aide lawyer (usually free) or spend the $ for a 1/2 hour session to consult with a private attorney if you can't find one who will consult for free...otherwise, altho you are judgement proof, the creditors will continue to hound you.

Is bankruptcy right for me...? I have a $250,000 mort. loan that's worth $160,000, another mort. loan for $200,000 that's worth $60,000, a line of credit of $70,000 , an equity line of $50,000 and about $45,000 in credit cards debts...All unpaid debts.

chito, you would have to discuss this with a lawyer or some sort of legal representative.. mortgages are different than say, credit card debt.