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Common Questions

What is bankruptcy ?

Bankruptcy is a legal proceeding in which an individual who cannot pay his or her debts can get a fresh financial start. The right to file bankruptcy is provided by federal law, and all bankruptcy cases are handled in federal court. Filing for bankruptcy immediately stops all of your creditors from seeking to collect debts from you.

Who can file bankruptcy ?
Which type or Chapter should I file ?
Can I change from one chapter of bankruptcy to another ?
How often can I file for bankruptcy relief ?
What is the difference between secured and unsecured debt ?
Can all types of debts be discharged ?
What can I keep, if anything, if I file bankruptcy ?
Do I have to have a certain amount of debt to file ?
What is a joint petition ?
What happens if one spouse filed for bankruptcy and not the other ?
Does my divorce decree protect me from creditors if my ex files for bankruptcy?
Can a loan co-signer be responsible for a debt if the other person declares bankruptcy ?
Do I have to file bankruptcy on all the accounts I owe, or can I keep some out ?
Will I lose my retirement accounts or payments from social security ?
Will I lose my home if I file for bankruptcy ?
How long does bankruptcy stay on my record ?
Can I do anything to remove a bankruptcy from my credit report ?
When can I apply for credit again ?
Can a "credit repair" company really save me from bankruptcy ?
Can a creditor continue to contact me after I've filed for bankruptcy ?
Who lets my creditors know I filed for bankruptcy ?
What does the Trustee do ?
Can creditors object to a bankruptcy filing or bankruptcy plan ?
What happens at a 341 meeting of creditors ?
When should I stop using my credit cards if I'm planning on filing for bankruptcy ?
What is a Reaffirmation Agreement ?
Can a bankruptcy be reopened ?
Who files for Bankruptcy ?