money matters

I have $30K in credit card debt. I earn $70K a year. Should I file for bankruptcy?

STATEN ISLAND, N.Y. — Many people will find themselves in debt at some point in their lives.

And it doesn’t matter whether you lost your job or it’s medical bills that have piled up, when you don’t have the money to pay your debt, collectors will track you down. But when deciding whether to file for bankruptcy, there are a lot of factors to consider.

For this reason, we sought advice from Karra L. Kingston, a bankruptcy lawyer on Staten Island and in New Jersey, who has helped hundreds of people get out of debt.

Question: I have 30K in credit card debt. I earn 70K a year. Should I file for bankruptcy?

Kingston: “Filing for bankruptcy is a difficult decision to make, but it can be the most effective way to take control of your finances and make a fresh start. Bankruptcy laws were established to help people who are struggling with debt to find a way out of their financial difficulties.

When deciding whether to file for bankruptcy, you need to assess your financial situation, including whether you have enough money to repay your debts, and whether your monthly expenses are greater than your income. If you

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