Expert: Terry Leeders - 4/10/2008

Question
Hello,

I want to know if I was discharged from a chapter 7 in 2003 or 2004, can I in 08 file again for a chapter 7 due to a hardship, it would be for a car for 20,500 i also have a credit card that i probably would keep with limit at 1,000 and payments are only 30 a month. I'm also a authorized user for my mom's AMEX and the is on my credit-what will happen to that? I just can't afford paying the vehicle it anymore. I have tried to trade and sell and because of the neg equity and economy no wants to buy. I live in Georgia, is this possible? What is my next step? Please help! Thanks in advance

Answer
Chapter 7 is only available again 8 years from the date you filed your last chapter 7.  So, here, you would be able to file Chapter 13.  With a chapter 13, you can pay back anywhere from 10% and up based on your income and your assets.  Speak to a local attorney to help calculate your monthly payment.