sam asked:


I am going to let my house in California foreclose. I have about $28,000.00 in credit card debt. Should I file for bankruptcy? Should I just not pay my credit cards? Or should I continue to pay my credit cards? Is there a certain dollar amount of income you are allowed to make to be able to file for bankruptcy?

crazyskyblue asked:


I’ve been watching Kitchen Nightmares a lot. All the restaurants are in debt and most of them ended up closing after the show was filmed. If you Google them, you’ll see that a lot of them closed. What happens to the debt? Do the former owners still have to pay it off or do they have to file for bankruptcy? Some of them say they are a million dollars in debt. What typically happens?

Emily asked:


I’m in about $4,000 in debt and was considering a debt reduction service. I heard that you have to file for bankruptcy to complete them. Is this true and what all is required to follow through and complete a reduction service. Is it worth it?

mike asked:


i am having a very difficult time paying down the balances that I owe on my credit cards. I’ve tried calling them up myself and negotiating the interest rate, but they refuse to lower it. I can barely afford the minimum payments and just want to be done with this. I don’t want to file for bankruptcy, I’m just looking for other methods of helping me eliminate this debt that I carry. Any help would be greatly appreciated!