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Answered 2011-07-20 18:42:22

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.


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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.

Bankruptcy information is available from lawyers who specialize in the area. They possess a great deal of knowledge when it comes to bankruptcy. Information about filing for bankruptcy can be found at a local courthouse.

A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing 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.

You are not prevented from moving as a result of filing bankruptcy. Filing bankruptcy is not a crime.

It would depend on the circumstances and which country you are filing in.

You may find it difficult to open a checking about after filing bankruptcy, so I suggest opening the account before you file.

Before filing Bankruptcy, one must consider all the other ways to repay their debts. Bankruptcy filing is not an easy task, as it involves a series of legal procedures. If a person is about to file for chapter 7 bankruptcy, then they must be prepared to liquidate their non-exempt properties. The bankrupt persons must analyze their financial position and make a list of all available assets and properties in order to find and dissolve the non-exempted assets. Nowadays filing bankruptcy has become easier by hiring a bankruptcy lawyer, one can find the available lawyers through some websites like,

Filing for bankruptcy is one of five ways to get out of tax debt, but you should consider bankruptcy only if you meet the requirements for discharging your taxes.

If you buy a used car with cash before filing a chapter 7 bankruptcy, How long do you need in between purchase and filing to keep the vehicle if the vehicle meets exemption in a state?

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.

There's no maximum amount. If you can't make your payments you file bankruptcy.

The US Courts is the best place to source information regarding chapter 11 bankruptcy filing. Here you will find valuable information including how the chapter 11 bankruptcy works. Other sites that provide information include; Investopedia and Wikipedia.

Bankruptcy services can give you all the information that you need. They can tell you all the pros and cons of filing.

What do you mean? Filing bankruptcy is basically the same no matter what the reason for the filing.

A company filing for bankruptcy must do so at a court, which is generally a matter for public record. Local procedures will determine the manner in which you can access this information.

"It is possible to refinance after filing for bankruptcy. However, there must be a certain interval of time between refinancing and filing for bankruptcy that varies depending on the country you are filing in."

Any time before the filing of the petition (of bankruptcy I presume) with the court.

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.

No. The amount of debt versus the ability to pay may factor in what type of bankruptcy will be accepted by the court.

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.

Filing bankruptcy has no affiliation with religion. If filing bankruptcy is he best financial options available, then you should do it.

Quicken Loans has an excellent section on how to obtain a loan or mortgage after filing bankruptcy. Most debt consolidation centers and bankruptcy attorneys will have information or references for those seeking information on applying for a post-bankruptcy loan or mortgage.

The first step in a bankruptcy filing is gathering your financial information. Next step, you will need to fill out the bankruptcy forms, known as schedules.The fees are $200 to file Chapter 7 bankruptcy and $185 for Chapter 13. Filing for bankruptcy involves a lot of paperwork and court appearances. The first step that needs to be decided is what kind of bankruptcy you are going to declare. Next, you will fill out papers with a lawyer that outlines the steps necessary to complete the bankruptcy. Finally, you will appear before a judge. In brief, that is the process, but it can take a lot of time for a bankruptcy to completely file, and will stay on your record for 7 years.

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