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Yes, you need to have some form of credit counseling
approved by the U.S. Trustees program. You must also take a finacial management course before you file for bankruptcy. The best thing to do is hire an bankruptcy attorney to guide you through the process.
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∙ 12y ago
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In order to file bankruptcy must you have a bankruptcy attorney?
If you are filing for personal bankruptcy it is not necessary to have a lawyer. If you are filing for business bankruptcy, you must retain a lawyer on your behalf.
How do you liquidate a company before filing bankruptcy?
You should liquidate the company after filing bankruptcy. If you do it prior to filing, it might be seen as an attempt to commit fraud and not pay off debtors. You would be safer to file and then follow the directions necessary. Consult an attorney in your area before making any big moves!
Will your credit rating be affected by your partner filing bankruptcy?
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
Can you spend money before filing bankruptcy?
yes
What is necessary to file for bankruptcy?
Filing for bankruptcy is a complicated process and one should consider hiring a lawyer to help with the filing process. You also need to undergo credit counseling and be aware of what type of bankruptcy to file.
Does income count AFTER you file chapter 7?
A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.
The sheriff has scheduled my home for a sale. Will filing bankruptcy chapter 7 stop this process?
generally filing for bankruptcy puts a stay on the collection of debts, including a foreclosure. get in touch with a bankruptcy atty asap, because there are things you are required to do before filing.
Should you take your money out the bank before filing bankruptcy?
yes
How much debt can you have before filing for bankruptcy?
There's no maximum amount. If you can't make your payments you file bankruptcy.
What is Prepetition?
Any time before the filing of the petition (of bankruptcy I presume) with the court.
Which taxes are not eligible for bankruptcy?
Payroll taxes and penalties for fraud are not it is not eligible for bankruptcy. If the debtor filed a tax return for the relevant tax years at least two years before filing, then it is not eligible for bankruptcy. If the tax debt is from a tax return that was originally due at least three years before filing for bankruptcy then it is not eligible for bankruptcy. If the IRS assessed the tax debt at least 240 days before the debtor filed for bankruptcy, then it is not eligible for bankruptcy.
What bankruptcy information should you know before you consider filing for bankruptcy?
Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.
