When to start a bankruptcy?
March 18th, 2009 by Questions
I lost my job early February and just started getting EI. I`m having no luck finding a job. I borrowed some money off a family member and I`ve been using that to pay on my credit card bills, but the money that is left won`t even cover all of my April credit card payments and I`m just paying the minimum.
Is it correct that I have to owe $1000 to the credit card companies before I can file for bankruptcy? If so I would have to wait out 2.5 months before I could file. Is there any point in even contacting the companies before it were to get to this.. if indeed it is $1000 owing?
I`m one of those people who found myself in the big hole I dug, a couple paychecks away from a financial disaster.
I`ve looked into all the other options on here and at this point cannot afford to do anything but file for bankruptcy.
Thank-you for your time.
Posted from: British Columbia