Enrollment in a Debt Management program hurt my chances of being able to file for bankruptcy?
I recently enrolled in a "Debt Management" program, Careone, to be
exact. In doing the math (i'm in excess of $35k in the hole in
unsecured debt), and from reading some of the very helpfull posts
here, I have come to realize that this is NOT going to work, and that
bankruptcy is probably a better option. I am in the process of setting
up a consoltation with a local lawyer. Several questions. (a) Will my
enrollment in a Debt Management program hurt my chances of being able
to file for bankruptcy? (b) What is the best type of bankruptcy for
me to file? All of my debt is unsecured credit card debt. I do not
own a home or have any assests other that my vehicle which is on a
bank secured loan, which I DO want to keep. (c) Assuming I am
elegible to file, how long approximately does the procedure take?
It takes different attorney different amounts of time to prepare a case for
filing. I can do them in less than 24 hours, but others differ. Once you
file, the process for a Chapter 7 typically takes about 4 months until you
receive your discharge.