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Filing bankruptcy can help a person by discarding debt or making a plan to repay debts. A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court. A petition may be filed by an individual, by spouses together, or by a corporation or other entity. All bankruptcy cases are handled in federal courts under rules ...
- Bankruptcy Basics
Bankruptcy Basics provides general information about federal...
- Chapter 7
An individual cannot file under chapter 7 or any other...
- Filing Without an Attorney
Filing personal bankruptcy under Chapter 7 or Chapter 13...
- PACER
There is a fee of 10 cents per page to access a file through...
- Court Records
Bankruptcy Case Policies; CJA Guidelines; Court Interpreting...
- Fees
Court of Appeals Miscellaneous Fee Schedule District Court...
- Trustees and Administrators
U.S. Trustees When a bankruptcy case is filed, the United...
- Unclaimed Funds in Bankruptcy
Search the U. S. Bankruptcy Unclaimed Funds Locator to see...
- Federal Courts & The Public
Information about the bankruptcy process helps citizens...
- Bankruptcy Case Policies
Bankruptcy Case Policies (pdf) (Guide to Judiciary Policy,...
- Bankruptcy Basics
- Consider All Your Options
- Choose Your Type of Bankruptcy Filing
- Hire An Attorney Or Go Pro Se
- Complete A Credit Counseling Course
- Fill Out Court-Required Forms
- Pay Court Fees
- File Forms with The Court
- Meet with Creditors
- Complete Debtor Education
- Receive Notice of Debt Discharge
Before choosing to file bankruptcy, consider whether it’s your best option. Bankruptcy can help stop creditor collection efforts and, ultimately, discharge or eliminate many of your current debts. It can’t eliminate all debts, however.You may not be able to discharge some types of student loandebt, unpaid taxes, child support and alimony. Bankruptc...
Bankruptcy protection for individuals comes in a couple of different flavors, each named after a chapter in the Bankruptcy Code. Before pursuing personal bankruptcy, you have to decide whether you’ll look for relief under Chapter 7 or Chapter 13. If you’ve decided to go ahead with filing, you may choose to seek Chapter 7 bankruptcy, the most common...
The last thing anyone facing bankruptcy wants is another bill. And hiring a bankruptcy attorney isn’t cheap. It can cost thousands for a Chapter 7 filing and even more for a Chapter 13 filing. Costs can vary depending on where you’re filing and your case’s complexity. However, it’s possible to get an initial consultation with an attorney for no cha...
Whether you go it alone or with legal help, you’ll need to complete a credit counseling course before filing. The course must be from a government-approved organization and completed within 180 days before filing. The credit counseling course will help you decide whether to seek bankruptcy or choose some other method. The course can be done online,...
Bankruptcy courts require filers to complete a long list of forms. Some, such as the filing petition and financial statement, are necessary in all cases. Others, such as a request to waive the filing fee, are optional. You can download the required formsfrom the United States Courts website. Read the instructions carefully and pay attention to the ...
In addition to a lot of forms, bankruptcy involves many court costs. For example, the basic filing fee for a Chapter 7 bankruptcy is $245—there’s also a $75 administrative fee and a $15 trustee surcharge. You may be able to get these fees waived if your income is less than 150% of the poverty level as defined by the Bankruptcy Code. Other fees, ran...
Your next step is to file the forms with the court. This involves going to the courthouse and presenting your forms to the clerk. You can’t expect legal help from the clerks, so make sure you have completed the forms according to the instructions. After you’ve filed your petition, the court will appoint a trustee to oversee your case. The trustee w...
You may not have to appear in court, but you will have to show up for a meeting of creditors, also called a 341 Meeting, since it’s mandated by section 341 of the Bankruptcy Code. Your creditors may not be there, but if they are, they’ll be able to ask you questions about your financial situation. The trustee will also be there to inquire about you...
In addition to the pre-bankruptcy credit counseling course, you’ll have to complete a post-filing debtor education course before your debts can be discharged. As with the pre-bankruptcy credit counseling course, you must take this course from a government-approved organization. This certificate is necessary to complete your bankruptcy. Post-filing ...
The last step is to have your debts eliminated. The time it takes to have your debts discharged varies based on the type of bankruptcy you choose. You’ll receive a notice when your creditors have discharged your debts. At that point, your bankruptcy process is complete.
Jun 9, 2023 · Complete the required bankruptcy forms 4. Get your filing fee ready or fill out a fee waiver request 5. Print your completed bankruptcy forms 6. Go to the court to file your forms 7. Mail required documents to your trustee 8. Take the second required bankruptcy course on financial management 9.
- andrea@upsolve.org
- Bankruptcy Attorney
In 2023, Chapter 7 bankruptcy filings rose 15.8% from 225,455 to 261,277 over the previous year. A successful Chapter 7 bankruptcy can erase unsecured debts. You also could be permitted to keep key assets considered “exempt” property. Non-exempt property will be sold to repay part of your debt.
- Can I get a credit card after bankruptcy?Court approval is necessary to apply for a new line of credit while your bankruptcy proceedings are ongoing. Depending on the type of bankruptcy fi...
- Can I get a mortgage after bankruptcy?Yes, but again patience is advisable. As is the case with credit cards, it depends on whether you filed Chapter 7 or Chapter 13 and whether the cou...
- Does bankruptcy affect my taxes?Generally, there are no tax implications for individuals filing bankruptcy. But if you are expecting a tax refund, a bankruptcy trustee can keep th...
- Does Bankruptcy affect my spouse?Not always. It could if the debts are held jointly but if one spouse files bankruptcy without the other, only the filing spouse’s debts are dischar...
- Does bankruptcy affect child support?Child support cannot be forgiven by filing Chapter 7 or Chapter 13 bankruptcy. Bankruptcy trustees appointed to your case have child support report...
- Does bankruptcy affect my job?Employers cannot use a bankruptcy to terminate your employment. But bankruptcies could be taken into consideration by private employers in future j...
- Does bankruptcy affect my 401K?Most retirement accounts, including your 401K, are protected from creditors when you file for bankruptcy.
- How many times can you file bankruptcy?It’s not a promising sign of second-chance success if you’re wondering how often you can file bankruptcy. Just know that while there’s no law limit...
- Does bankruptcy clear medical debt?More than 60% of bankruptcy filings include significant amounts of medical debt. So, it’s no wonder the term "medical bankruptcy" was coined. But t...
- Does bankruptcy stop foreclosure?Bankruptcy can stop a foreclosure because of the automatic stay that bankruptcy filings provide. Short of mounting a foreclosure defense though, wh...
People also ask
How do I file for bankruptcy?
How do I start a bankruptcy case?
How does filing bankruptcy help a person?
How is a bankruptcy case handled?
Starting Your Bankruptcy Case. Your bankruptcy case will begin when you file the bankruptcy paperwork with the bankruptcy court. Go to your state's bankruptcy article for specifics on where and how to file. The court will issue an automatic stay that will prevent most creditors from continuing to collect from you.
- Cara O'neill, Attorney
- How Does Bankruptcy Work?No one is immune from debt or life’s challenges, and sometimes people need help getting back on their feet. Federal law established the bankruptcy...
- Can I Keep My Property in BankruptcyEveryone needs things to maintain a home and employment. You’d hardly get a fresh start if you lost all of your belongings. So don’t worry about lo...
- Can I Discharge My Debt in Bankruptcy?You already know that filing for bankruptcy works by wiping out debt, such as credit card balances. And you'll be able to erase overdue utility pay...
- Which Bankruptcy Chapter Should I Choose?Not all bankruptcy chapters work the same way, which is good because when your financial situation is unique (as all are), having options helps. Yo...
- Bankruptcy EligibilityYou don't need a particular amount of debt to file for bankruptcy, but there are lots of other eligibility rules—these are the most common. Multipl...
- Hiring a Bankruptcy LawyerRetaining a professional to help you with your case is well worth the cost. Not only will you have peace of mind that you’ve filed a correctly prep...
- The Bankruptcy ProcessWhile most people hire a bankruptcy lawyer to prepare their bankruptcy paperwork and guide them through the process, it's possible to do your bankr...
- Life After Bankruptcy: A New BeginningTo make the most of your discharge and ensure sure life after bankruptcy goes smoothly, you’ll want to do a bit of planning. Temporary Problems Wit...
Aug 6, 2021 · Chapter 7 bankruptcy erases most unsecured debts, that is, debts without collateral, like medical bills, credit card debt and personal loans. However, some forms of debt, such as back taxes, court ...
Much of the bankruptcy process is administrative, however, and is conducted away from the courthouse. In cases under chapters 7, 12, or 13, and sometimes in chapter 11 cases, this administrative process is carried out by a trustee who is appointed to oversee the case. A debtor's involvement with the bankruptcy judge is usually very limited.
