Filing for bankruptcy has its advantages, but it comes with consequences, too. Find out whether it will be worth it to declare bankruptcy. ...
You don't have to give up all of your property when you file for bankruptcy. Your state's exemption statutes tell you how much property you'll be allowed to keep. ...
Find the answers to many of your bankruptcy questions in the Should I File for Bankruptcy FAQ. The bankruptcy questions addressed in the FAQ include: Can I file for bankruptcy? Which bankruptcy chapter should I file? How often can I file for bankruptcy? What if I don't have much debt? Can I file for bankruptcy on some of the accounts I owe, or do I have to include all of them? Can I wipe out all of my debt in bankruptcy? Will the cosigner of my loan still have to pay? What lawsuits and money judgments? Can I keep my home and other property? What about my retirement account, Social Security payment, or inheritance? ...
Not everyone qualifies for a debt discharge in a Chapter 7 case. If your income exceeds allowed amounts, or if you don’t qualify for a means test exception, you’ll need to explore Chapter 13 bankruptcy for debt relief. ...
You’re allowed to keep property you’ll need to work and live as part of your fresh start in bankruptcy. ...
A bankruptcy attorney will ask you why you're considering filing for bankruptcy and determine whether filing for Chapter 7 or Chapter 13 bankruptcy will help you solve your financial problem. ...
Bankruptcy comes with many considerations, including the particular bankruptcy chapter; filing costs; asset and debt retention; avoiding bankruptcy fraud; and finally, whether you’ll need to retain a bankruptcy lawyer (it’s usually a good idea). ...
If your lender is threatening to take back your property because you’ve fallen behind on the payment, Chapter 13 bankruptcy can help. Filing for Chapter 13 bankruptcy will stop the collection action in its tracks. You can then propose to catch up on ...
Filing for Chapter 13 immediately stops collection activities, including most wage garnishments, lawsuits , foreclosures, and repossessions. You’ll be able to reorganize your debt so that it’s more manageable and: catch up on missed car and mortgage ...
If a permanent financial hardship makes it impossible for you to repay your student loan, you might be able to wipe it out by filing for Chapter 7 bankruptcy. ...
