Bankruptcy right thing to do?

[star59]

What is the name of your state? NJ


My friend is thinking of filing for bankruptcy. He does not own a home, nor a car, and has been unemployed for 2 years. He has huge credit card debt, and debtors are after him. Is bankruptcy the right thing to do? Thanks.

 

[ihatearizona]

Sounds like he'd be a good candidate. It's hard to tell though, without more specific info. Just how much does he owe? Is it all credit card debt?

 

[star59]

He has $140,000 in credit card debt, plus some personal loans, as well.

 

[bigun]

$140K in cc debt. Yikers!
Yep, time to take a seat in the bk lounge.

 

[DiannaMaria66]

BK "lounge"

$140K in cc debt. Yikers!
Yep, time to take a seat in the bk lounge.

giggle! ' never heard that expression before.