Where To StartStep #1 is to use our free bankruptcy evaluation below to get more information about bankruptcy.
Available OptionsAs with anything, the sooner you act, the more options you will have. Start on our free evaluation below.
Rebuild Your CreditAfter bankruptcy, your bills will be lower, but it's crucial to rebuild your credit ASAP. We'll help you there too!
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Bankruptcy Questions & Answers
Which should I file, Chapter 7 or Chapter 13?
This will come down to how much money you make and how many personal assets you wish to keep; such as property and homes. If you have a lot of debt, little to no income and no property filing for Chapter 7 may be the best option. If you do have income and property you want to keep, then Chapter 13 should work.
What is the difference between “secured debt” and “unsecured debt?”
Unsecured debt is one that is not backed by collateral; an example would be credit cards or medical bills. Secured debt, is backed by collateral, for instance your mortgage is backed by your home. If you don’t pay your mortgage you will loose you home.
Can filing for bankruptcy stop the foreclosure on my home?
Filing for Chapter 7 or 13 can stop the foreclosure on your home. The Chapter 13 gives you a chance to catch up on late mortgage payments through a repayment plan. As long as you follow the Chapter 13 repayment plan, you will be able to stay in your home. Filing for a Chapter 7 bankruptcy can also stop the foreclosure process, but only until after the discharge a few months later, because homes are not included in a Chapter 7 bankruptcy.
How long do I have to wait to get another loan after bankruptcy?
With any type of bankruptcy, at the very minimum, you'll have to wait until after the discharge to get a new loan. In most cases, you'll need to re-establish your credit, so during this waiting period (3-24 months), make sure you don't get more blemishes on your credit and pay everything on time.
What is bankruptcy?
Bankruptcy is where an individual or organization can legally declare that they do no have the funds to pay their creditors. Consumers can petition to the federal district court to either reorganize their debts (chapter 13) or liquidate their assets (chapter 7).
By using the form on the left, you'll have the opportunity to speak directly with a bankruptcy attorney who can evaluate your situation and answer any specific questions you have about Chapter 7 or 13 bankruptcy.
There is no obligation to file bankruptcy when you speak with an attorney and they can tell you about othe bankruptcy options as well.
"Bankruptcy questions and answers may be different for everyone depending on their exact situaiton. That's why it's important to speak with a bankruptcy lawyer about your case." How long with Bankruptcy stay on my Credit?
Bankruptcy can stay on ones credit for up to 10 years from the date of filing, this is especially true for Chapter 7. While a Chapter 13 can stay on the report for 10 years, it is customary to see it removed after 7 years.
What is the difference between Chapter 7 and 13?
A Chapter 7 bankruptcy is where you may liquidate personal assets for the benefit of your creditors. It can wipe most (if not all) of your unsecured debts. With a Chapter 13 you will be reorganizing the debts and consolidating them down to one lower monthly payment. You also keep your assets with a Chapter 13.
Filing for bankruptcy doesn't have to be scary, just make sure it's your best option before moving forward.
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
Learn about everything you need to know about the Bankruptcy Courts here!
