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FAQs

What is bankruptcy?

Bankruptcy lets you "discharge" your debt when you owe "creditors" more money than you are able to pay. 
 

Under what conditions can I file bankruptcy?

If you owe money, you can file a bankruptcy petition. 

Can all my debts really disappear if I file for bankruptcy?

It depends on which chapter of bankruptcy you file. However, the following is a list of debts that will not go away:
• Local, State, & Federal Government Taxes
• Loans for Money or Property Refinancing That You Got If You Didn't Fill out the Applications Truthfully
• Alimony, Maintenance, or Child Support Payments Issued by a Divorce Court
• Court Judgments (including DWI) for Malicious Injury Caused by You to Another Person
• If You Can't Prove Hardship, Education Loans Have to Be Repaid
• Debts Not Listed on the Bankruptcy Petition
• All the Debt You Acquired after the Bankruptcy Petition Was Filed

Can I keep anything after bankruptcy?

You may be able to keep some property. Depending on what individual state laws provide, you may be able to keep some jewelry, a used car that's not worth a lot, your home and the stuff in it, plus all of the things you need to run your business if you're self-employed. These are called assets, and may still have to be listed on your financial statement form. 
 

Can I remove my bankruptcy from my credit report?

No. You can only ask the credited reporting agencies to include your statement of the reasons why you had to file for bankruptcy. 
 

Can I keep anything after bankruptcy?

No. You can only ask the credited reporting agencies to include your statement of the reasons why you had to file for bankruptcy. 
 

Can my bankruptcy case ever be reopened again?

Yes. Whenever your trustee has cause to question anything irregular about your petition, such as mistakes and anything left out, your bankruptcy case will be reopened. If you get your first bankruptcy petition filled out correctly the first time, you shouldn't have anything to worry about.

Bankruptcy Consulting will show you how to fill out all the forms you need yourself. Then, you'll completely understand all the details of your own bankruptcy. You can save a great deal of money by not hiring an attorney.

Contact us today to stop your foreclosure date.