Feed: Bankruptcy Questions & Answers | Chapter 7 & 13 Bankruptcy - AggScore: 46.9

When will I be discharged From bankruptcy?

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A debt is discharged in a bankruptcy when the creditor agrees to write it off or consider it paid, leaving you with no obligations on it. When you've reached an agreement with all creditors, whether it’s to discharge the debt or settle it some ...

Can you file for bankruptcy without a lawyer?

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There are no laws requiring the help of a lawyer in a bankruptcy case, so technically, you can represent yourself in a bankruptcy. However, you need a thorough knowledge of the Bankruptcy Code and good negotiation skills to get ideal results out of a...

How much does filing for Bankruptcy cost?

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Fees involved in a Chapter 7 bankruptcy include a filing fee of dollarsignr245, an administrative or miscellaneous fee of dollarsignr39, and a trustee surcharge of dollarsignr15. This totals dollarsignr299. For Chapter 13, the filing fee is dollarsignr235 and the administrative fee is dollarsignr39, for a tot...

Will I lose my car if I file for Bankruptcy?

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Under Chapter 7 bankruptcy, which involves putting your assets up for liquidation to pay off your debts, you stand to lose some of your properties in exchange for your discharge. That means you can lose personal belongings, including your car. Howeve...

Can you file for bankruptcy more than once?

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Technically, there's no limit to how many times a person can file for bankruptcy. However, debts can only be discharged under bankruptcy at certain intervals. This is mainly to keep people from abusing the rules and filing bankruptcy to get rid of de...

Can I Lose My House if I File for Bankruptcy?

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Losing property is only a considerable risk in Chapter 7 bankruptcy, also known as liquidation or straight bankruptcy. Under Chapter 7, you agree to have some of your properties liquidated or sold off, and use the proceeds to pay your creditors in or...

My husband has his own small locksmith mobile business but has no other properties. He has more or less $14,000 credit card debts. Is it practical and will he qualify for any bankruptcy programs?

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Yes, your husband would qualify for bankruptcy. That is practical or not to file bankruptcy for a dollarsignr14,000 debt depends on your financial situation. How much income you are getting, and how much you are struggling managing your living expenses....

Can I file chapter 7 and retain my home and car? What happen if i short sale the property, and I have second lien? Is the second can be wipe out by chapter 7?

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Yes, it is possible to keep your home and your car in a chapter 7 bankruptcy.  There are certain property and asset exceptions in a chapter 7 bankruptcy depending on your financial situation and the state in which you will file.In a Chapter 7 ba...