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.
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.
yes
There's no maximum amount. If you can't make your payments you file bankruptcy.
Yes, you are required to complete credit counseling before filing for bankruptcy. This counseling must take place within 180 days prior to filing and aims to help you explore alternatives to bankruptcy. After completing the counseling, you will receive a certificate that must be included with your bankruptcy petition. Failure to complete this step can result in your case being dismissed.
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.
yes
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.
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.
yes
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.
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.