no, all creditors must be listed.
No, in fact it will leave a Bankruptcy record on your credit report for 10 years.
It will leave you responsible for any joint debts you had with your ex. That includes any arrears prior to the ex filing, attorney's fees, penalties, etc. That will in turn affect your credit score and your credit report. If there are no joint debts, it should have little effect, but you may want to read her schedules in the bankruptcy court and get a new copy of your credit reports from the big three (Experian, TransUnion, Equifax), one free each year from www.annualcreditreports.com.
The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.
Consumer debt, such as credit card or medical debt, plagues many consumers. This debt can leave many struggling to make ends meet and not being able to pay off the debt. This can leave many consumers wondering how to resolve their debts and reclaim their lives. A personal bankruptcy lawyer can help consumers who have accumulated debt to reduce or remove their debts by filing bankruptcy. They can help to determine which type of bankruptcy must be filed. The two types that are most commonly used for personal debt are Chapter 7 and Chapter 13 bankruptcy. Chapter 7 is often chosen if the debtor has income, or future income that may be used to help to repay the creditors. During Chapter 7, debts are generally not discharged, but may be reduced in an attempt to repay them. Chapter 13 bankruptcies often grant full discharge of debts that are owed to a creditor or to a number of creditors. There are often some fees that occur when filing for bankruptcy, such as the fees that must be paid to a personal bankruptcy lawyer. These fees may be based on a sliding scale or part of a flat fee that will include attorney costs and court filing costs. During the bankruptcy process, a lawyer will ask for all financial information such as income, assets and other credit related information. This can help them to determine what to include in the bankruptcy and what should be excluded. Once the bankruptcy has been filed, many states require that a course be taken to help consumers better learn to manage their finances and plan a budget. This is often taken online for a fee, and proof of completion may be required in order for the bankruptcy to be granted. Laws for bankruptcy may vary between states, so it is important to consult an attorney who is versed in state bankruptcy laws. Not all debts may be discharged under bankruptcy so those seeking to resolve their debts in this manner may need legal advice on which debts cannot be removed. Bankruptcy may have negative consequences such as a lower credit score or difficulty in obtaining credit or loans for a period of time after the bankruptcy. It is important after resolving debt with a personal bankruptcy lawyer to begin to build credit in a responsible manner to avoid further debt.
Yes, bankruptcy does cover all debts. If you declare bankruptcy, the other guy doesn't get paid, and you leave laughing.
In general, the filing of bankruptcy by one spouse will not affect the other spouse's financial situation. A debt is created by contract between a debtor and a creditor - each debtor must sign the contract to be liable for payment. Therefore, the bankruptcy of one spouse does not cause the other to become bankrupt. Debts where spouses are joint and severally liable for payment will remain with the spouse who has not filed for bankruptcy. Under Chapter 7 bankruptcy, where one spouse's debts are wiped clean, the creditor can go after the other spouse. However, a major advantage of Chapter 13 bankruptcy, where the debtor plans to re-pay her debts, is that the creditor will leave the co-debtor alone, as long as bankruptcy plan payments are timely deposited.
YOU go bankrupt. Not on a bill, or a this or a that. All your debts, and all your assets are included. Not including everything in the court papers you file may not only invlaidate your entire filing, (and obviously leave you with more debts than you would otherwise), but be criminal, contempt of court, fraud, and put you in jail. Generally, your assets are used to pay your debts, with any excess debts being discharged. Yes, utility bills are dischargeable debts. Why wouldn't you report them as part of your BK?
Yes. Many people who do a bankruptcy by themselves or by inexperienced lawyers leave out doctor, dentist or friends' debts. If you omit them, you're committing fraud and can find your discharge revoked and going to federal prison for a vacation.
No you are not. When one spouse and not the other files for bankruptcy they are only doing so with regard to their personal debt. A debt is created by contract between a debtor and a creditor - each debtor must sign the contract to be liable for payment. Therefore, the bankruptcy of one spouse does not cause the other to become bankrupt. Debts where spouses are joint and severally liable for payment will remain with the spouse who has not filed for bankruptcy. Under Chapter 7 bankruptcy, where one spouse's debts are wiped clean, the creditor can go after the other spouse. However, a major advantage of Chapter 13 bankruptcy, where the debtor plans to re-pay her debts, is that the creditor will leave the co-debtor alone, as long as bankruptcy plan payments are timely deposited.
The petitioner should notify the office of the clerk of the state or federal BK court or the BK trustee (if one has been assigned).
Bankruptcy is one of many solutions to a consumer's debt problems. When an individual finds himself or herself unable to make monthly payments for credit accounts, it may be time for that person to consider filing for bankruptcy. If the courts rule in favor of the debtor's claim, that person may not have to pay any of his or her creditors. Such an exemption will leave the debtor feeling relieved so that he or she can concentrate on getting back on the right path. When used properly, bankruptcy can be a very beneficial tool for a person desiring to rebuild.When Bankruptcy is the Best OptionConsumers have other options to consider before filing for bankruptcy. Debt consolidation can be a better choice depending on the circumstances. A consolidation will work best for a person who simply has too many open accounts. That debtor might return to financial health after the consolidation merges the accounts into something more organized.Debt counseling could work in some cases where the debtor is just beginning to fall behind. A little guidance and direction from a friendly counselor could help that person to catch up. There is no need for bankruptcy if the debtor has a chance of catching up.Bankruptcy is usually a last resort option. If a person is so far into debt that he or she cannot see a way out, bankruptcy is most likely the best choice. When a debtor's income is less than his or her debts, bankruptcy is the only option.Filing for BankruptcyA debtor can file for bankruptcy alone or with an attorney's help. It is always best for a person to retain counsel for a bankruptcy case. Hiring a lawyer will avoid mistakes in paperwork. An attorney will make sure the debtor files for the correct chapter of bankruptcy as well.Debtors now have the option of filing for bankruptcy online. Instead of traveling to an attorney's office, the individual can just visit the lawyer's website. The information page will ask the applicant for information about his or her debts. It will ask the debtor what kind of debt he or she has. It will also ask for an approximate total of debts owed to creditors.Next, the applicant will enter information regarding his or her income. Some bankruptcy online websites conduct the means test. The means test lets the client know which bankruptcy chapter to claim.
"You will be forced to leave the country immediately and ur debts will be traced to wherever u are." Actually, that's a pretty bad answer. This person is already leaving the country, so stop being hostile and take the time to spell words.