Can i file for chapter 7 with no asset and income?

Question

i have several different collections and a few credit cards and planning to default on a car loan that will probably leave me with a debt of around 15000 after repossession.

i have no asset(no house, no paid-off car, no possession) and i live with my parents. Can i file for chapter 7 and wipe off all my debt?

im not really interested in chapter 13 as i don't want to make payment plan for something that i can live with for 7 years anyway.

Answer 1

There is nothing to stop you.

Answer 2

You can certainly file Chapter 7 for sure, I filed 7 years ago..It will impact your score dramatically but I was still able to purchase a home and a brand new car,  Your interest rate will be higher though.  There arent many restrictions on filing, debt is debt and if you cant pay it then it is probably the only thing left to do, Bankruptcy is expensive too though.  Why not just not pay, that will impact your credit about the same, and if you have no income then they cant go after anything as far as garnishing wages...Good luck, The economy is tough for nearly everyone right now.. It sucks I know!!!