The Danger of Relying on Family Contributions to Make Your Bankruptcy Budget Work

If your Chapter 13 budget is tight, it may be tempting to include “support from family or friends” as a source of income. This approach can allow your budget to work on paper so that you can afford to keep your house, car, or other hard asset.

In a Chapter 7, you may include family support to make your budget work so you can reaffirm a secured debt.

As I discuss in this video, I urge my clients to be very cautious about assuming that contributions from friends or family will be there for the long term. Chapter 13 cases, for example, last 5 years - can you really be sure that your friends or family will have the capacity and desire to give you money every month over this extended time frame?

Sometimes a better approach may be to use bankruptcy to walk away from an asset that you really have to stretch to afford. In other cases, a part time job may suffice. Whatever the situation, if you are sitting in a bankruptcy lawyer’s office, all cards need to be on the table.
=====FREE DEBT DESTROYER SURVIVAL KIT====
Don't know where to begin? Download my free
"Debt Destroyer" Survival Kit at
https://bit.ly/BK-survival-kit
=========================================

===========FREE CASE EVALUATION==========
If you would like me to analyze your finances
please contact me at
https://bit.ly/Contact-Gins
==========================================

===============CONTACT ME=================
Jonathan Ginsberg
Atlanta Bankruptcy Attorney
Website: https://www.atlanta-bankruptcy.com
Facebook: https://www.facebook.com/ginsberglaw/
Telephone: 770-393-4985
https://bit.ly/Contact-Gins
===========================================
**Click Below to SUBSCRIBE for More Videos:
http://www.youtube.com/subscription_center?add_user=ginsbergbankruptcy

Видео The Danger of Relying on Family Contributions to Make Your Bankruptcy Budget Work канала Personal Bankruptcy Law Atlanta