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Is it ever really worth it to file a chapter 7?

I have 40k student debt which I plan to gov consolidate and 14k that I can file chapter 7 on, is it wise to file the chapter 7 on the 14k or no?

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  • 8 years ago
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    First, you may not qualify for chapter 7 and may only be able to do chapter 13 which is the repayment plan.

    Second, $14K is a pretty small amount to file bankruptcy over. It costs about $2000 to file. You would be better off using that money to negotiate settlement.

    Source(s): BD
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