civil court ordered payments to bank
Question: I have had a court ordered payment for monies owing to a bank from a failed business. The amount is over $125,000 and my debt is higher when you add in my credit cars and mortgage. Can I pursue bankrupsy?
Answer: Yes, bankruptcy may be an option. Whether or not bankruptcy is the correct answer will depend in part on the value of your house and the amount outstanding on your mortgage, and your income each month. We suggest you consult a bankruptcy trustee for a free initial consultation; they will review all of your options and help you decide which option is best for you.