Declare Bankruptcy

Filing Bankruptcy The process of filing bankruptcy can be drastically simplified by hiring a local, qualified bankruptcy lawyer. There are many rules related to the federal bankruptcy code that makes trying to file bankruptcy yourself extremely difficult. For example, each state has its own long list of bankruptcy exemptions, and the courtroom meetings can sometimes be difficult […]

How Soon After My Bankruptcy Can I Get Credit For A New House Or Car?

You can start applying for new credit immediately after your case is discharged; however, it is likely that you will be required to pay higher interest rates on credit you obtain immediately after a bankruptcy. Although you may be able to obtain a mortgage as soon as one day after a bankruptcy, industry experts recommend […]

Will Bankruptcy Wipe Out All of My Debts?

Bankruptcy eliminates most, but not all, debts. Many major debts, including credit card debt, medical bills, broken leases, utility bills, repossessions, payday loans, and unsecured failed business debts, can usually be eliminated in bankruptcy. Certain other debts that cannot always be eliminated are criminal debts, some tax debts, student loans, back alimony, child support payments, […]

How Often Can I File For Bankruptcy?

You cannot receive a discharge in a Chapter 7 case if you received a discharge in either (a) a chapter 7 bankruptcy filed within the last 8 years, or (b) a Chapter 13 bankruptcy filed within the last 6 years. You cannot obtain a discharge in a Chapter 13 case if you either (a) obtain […]

How Will The New Bankruptcy Laws Affect Me?

The new bankruptcy laws affect all bankruptcies filed, but recent studies show that approximately 80% of past filers would still qualify to file under the new bankruptcy laws and would be eligible to eliminate substantially the same debts as before. The major changes include the addition of an income-based means test, and credit counseling, and […]

When Will My Creditors Stop Bothering Me?

The moment your case is filed with the bankruptcy court, you receive an “automatic stay,” a court order that prevents your creditors from taking any further collection activity against you without prior court permission. The “automatic stay” stops almost all actions that a creditor may have initiated against you before filing for bankruptcy relief, including […]

How Long Will A Bankruptcy Stay On My Credit Report?

A record of your bankruptcy filing may remain on your credit report for up to 10 years depending on the credit reporting bureau. Fortunately, your credit report indicates which debts were discharged in your bankruptcy, and reports them as a zero balance and uncollectible by your creditors. A bankruptcy listing on your credit report does […]

How Do I Know If Bankruptcy Is The Right Choice For Me?

Nobody wants to file bankruptcy, but many people find themselves in a situation where it is the best (and often the only) option for them to get back on the right financial path. The first step in determining any financial plan is creating a realistic monthly budget. A monthly budget helps you identify your monthly […]

How Do I Know If Bankruptcy Is The Right Choice For Me?

Nobody wants to file bankruptcy, but many people find themselves in a situation where it is the best (and often the only) option for them to get back on the right financial path. The first step in determining any financial plan is creating a realistic monthly budget. A monthly budget helps you identify your monthly […]

Can I Keep My House and Car?

In most cases, you do not lose any of your possessions when you file bankruptcy, including your house or car. In fact, a Chapter 13 bankruptcy is designed to help save assets such as your house or car if you are facing foreclosure or repossession. As you did prior to filing bankruptcy, you continue to […]

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