How do I declare bankruptcy?

Answer 1

Bankruptcy is extremely complicated and it is strongly recommended that you use an attorney to file. Many attorneys offer free consultations to tell you more about bankruptcy and if it is helpful for you to file. Based on the county in which you live, you are assigned to a particular Federal Division of a particular Federal District of a particular Federal Circuit. Once you find out what Division your county is assigned to, you have to sign and file a bankruptcy petition in the Clerk of the Bankruptcy Court for the appropriate Division. This gets your case started. After filing, the Bankruptcy Court will notify you of the date and time of your hearing. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!

Answer 2

The steps that one may take in order to file for bankruptcy are as follows:

** MOST IMPORTANT, FIND A GOOD ATTORNEY**

* Work with the attorney to determine which type of bankruptcy makes the most sense - Chapter 7 (few assets, little-to-no disposable income) or Chapter 13 (regular income, want to save home)

* Complete credit counseling (required under BAPCPA)

* Complete the paperwork (everything about your financial life in the last three years must be documented with proof)

- If Chapter 13, you will also need to document a repayment plan

* Submit the paperwork (and pay the filing fee)

* Go to Court (eventually - takes time to get the case to court, however, once there, a trustee will work through all of the specifics)

* Get discharged (about two months if Chapter 7, up to five years if Chapter 13, two months after the last payment is made)

Answer 3

Filing for bankruptcy can vary depending on country, state/province, and city. Assuming you live in Canada, you will need to schedule an appointment with bankruptcy trustee. Many bank and financial institutions have a preferred bankruptcy trustee within each city they have branches. Once the trustee agrees that you qualify for bankruptcy, then they will being the paperwork. You will be required to pay the trustee for their administrative duties, which will likely take 3-6 months. The end result is bankruptcy will be declared, your debts will be forgiven, your credit history will be significantly diminished and will stay on your history for at least 7 years.

Answer 4

The best way to file for bankruptcy is to find a trusted lawyer who specializes in bankruptcy cases. You will need to provide your bills, mortgage or rent statements, and other documents to proceed.

Answer 5

You should definitely talk with a lawyer and have them help you through the process. I filed not too long ago and it was very easy to do. Once you have filed you can easily begin to rebuild your credit.

Answer 6

First thing you need to do if you want to declare bankruptcy is get credit counseling and see if this is what you should do. If you do decide to declare bankruptcy you need to file with the courts. Bankruptcy doesn't take away all debts such as child support.

Answer 7

A person will have to hire an attorney if they want to declare bankruptcy. An attorney will be able to guide each person through the process

Answer 8

You need copies of all your tax and bank records to file for bankruptcy. Your local branch should be able to help you complete the process and provide any support you need.

Answer 9

One can declare bankruptcy by getting a lawyer and having them help you declare. You can also go to the bank and asking a manager for help declaring bankruptcy.