how do you file for bankruptcy?
340115
The whole Chapter 7 bankruptcy process takes about four to six months, costs $200 in filing and administrative fees without an attorney, and commonly requires only one trip to the courthouse. \n\nTo file for bankruptcy, you fill out a two-page petition and several other forms. Then you file the petition and forms with the bankruptcy court in your area. Basically, the forms ask you to describe: \n\n \n\nyour property \nyour current income and its sources \nyour current monthly living expenses \nyour debts \nproperty you claim the law allows you to keep through the bankruptcy process (for example most states let you keep clothing, household furnishings, Social Security payments you haven't spent and other basic items) \nproperty you owned and money you spent during the previous two years, and \nproperty you sold or gave away during the previous two years. \nFiling for bankruptcy puts into effect something called the "automatic stay." The automatic stay immediately stops your creditors from trying to collect what you owe them. So, at least temporarily, creditors cannot legally grab (garnish) your wages, empty your bank account, go after your car, house or other property, or cut off your utility service or welfare benefits. \n\nUntil your bankruptcy case ends, your financial problems are in the hands of the bankruptcy court. It assumes legal control of the property you own (except your exempt property, which is yours to keep) and the debts you owe as of the date you file. Nothing can be sold or paid without the court's consent. You have control, however, with a few exceptions, of property and income you acquire after you file for bankruptcy. \n\nThe court exercises its control through a court-appointed person called a "bankruptcy trustee." The trustee is mostly interested in what you own and what property you claim as exempt. This is because the trustee's primary duty is to see that your creditors are paid as much as possible on what you owe them. And the more assets the trustee recovers for creditors, the more the trustee is paid. \n\nThe trustee goes through the papers you file and asks you questions at a short hearing, called the "creditors' meeting," which you must attend. This meeting is not likely to last more than five minutes. Creditors may attend, too, but rarely do. \n\nAfter this meeting, the trustee collects the property that can be taken from you (your nonexempt property) to be sold to pay your creditors. You can surrender the property to the trustee, pay the trustee its fair market value or, if the trustee agrees, swap some exempt property of equal value for the nonexempt property. If the property isn't worth very much or would be cumbersome for the trustee to sell, the trustee can "abandon" the property-which means that you get to keep it. Very few people actually lose property in bankruptcy. \n\nIf you've pledged property as collateral for a loan, the loan is called a secured debt. The most common examples of collateral are houses and motor vehicles. In most cases, you'll either have to surrender the collateral to the creditor or make arrangements to pay for it during or after bankruptcy. If a creditor has recorded a lien against your property, that debt is also secured. You may be able to wipe out the lien in bankruptcy. \n\nIf, after you file for bankruptcy, you change your mind, you can ask the court to dismiss your case. As a general rule, a court will dismiss a Chapter 7 bankruptcy case as long as the dismissal won't harm the creditors. Usually, you can file again if you want to, although you may have to wait 180 days. \n\nAt the end of the bankruptcy process, most of your debts are wiped out (discharged) by the court. You no longer legally owe your creditors. You can't file for Chapter 7 bankruptcy again for another six years from the date of your filing.
839044
Here is a page that has all the facts regarding the new bankruptcy laws: http://www.expert-credit-advice.com/bankruptcy_facts.htm \n\n\nYou need to pass a means test to qualify for discharge..\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBest answer?
163927
If you use your credit cards after bankruptcy, be prepared to pay everything you charge on them.  \n\nYou should cut up your credit cards.  That's what got you into bankruptcy in the first place.
128132
Well, if you fall into the criteria for filing Chapter 7 (your HOUSEHOLD income (not just yours) is lower than your states median income) then you should probably look to spend between $500-$1500.  You can fill out the paperwork yourself and file everything for a smaller fee (there's like a $200-$400 fee to file the paperwork).  The attorney's may offer a free consultation, however when an attorney does a bankruptcy they represent you because they are filling out the paperwork for you on your behalf.  Have you visited wethepeoplema.com ?  They show you how to file by yourself.  Good Luck.
1053039
The new rules for chapter 7 bankruptcy effect approximately 3% of the population.\n\n#1 You will now have to attend a counseling session before filing\n#2 You will have to attend a financial management course after you file\n#3 You will also need to provide more documents to your attorney to file for bankruptcy.\n\nThe previous answer is totally invalid. I hope you know that. There is no debt to pay back after chapter 7. And in less than two years I raised my scores into the mid 600's. It's business as usuall and I am able to qualify for a home mortgage, a car or most credit cards if I choose.\n\nThere are scores of attorneys out there who love doing bankruptcies because it's gravy work for them. You should find someone suitable for about $500. Filing fees should still be under $300. I actually filed my own bankruptcy with the help of a legal aid office for $550, lock,stock & barrell.\n\nIf you do hire an attorney, He needs to sit down with you for an hour and fill out the paper work with you. That his job. He knows how to fill in the blanks. The reason I say this, an attorney I sought out handed me the papers to fill out and sent me home.\nI had so many questions I was stymied. I sought out another attorney. He asked me to bring all account information to his office. We sat down and he filled out the paperwork as he was asking the questions.
531044
There is no list.  Some do file bankruptcy, but an awful lot of startups that fail just quietly close their doors and disappear.\n\nIf you just want statistics, go to the SBA for data on the business failure rate in your local area.
668619
How about develop a plan to get out of debt and not file bankruptcy?  Bankruptcy doesn't solve the problem.  Many people that file bankruptcy just end up in debt a few years later because they didn't address the problems that caused them to go into debt.  \n\nFor most people, the problem is just not managing their money well.  \n\nI would suggest you checkout Dave Ramsey (see link below).  He teaches a course (Financial Peace University) that has helped thousands of people get out of debt and manage their money better.  \n\nMy wife and I went through this course 2 years ago and it changed our lives.  We're now debt free and helping others (by teaching the course) do the same.
49317
Tell your friend you think you are broke and may have to file bankruptcy.\n\nA true friend will suggest ways for you to improve your situation.\n\nA fair weather friend, or leech, will disappear and never return your calls or emails again.
342067
Go to the court where your bankruptcy was filed.  They WILL allow you to see the file.  The only cost involved is that for the copy machine.
371205
When you first contact them let them know you have the bankruptcy and ask them if it will be a problem.  If they tell you they don't usually rent to people with bankruptcy move on.\nAlso you may have establish a history with a large complex or rental company and work your way up the list.
433652
You should check out www.lifeafterbankruptcy.com. Stephen Snyder is the expert on helping people recover from Bankruptcy and begin the process of rebuilding their credit. He conducts free seminars nationwide and sends out an excellent newsletter for people to learn what's happening in the credit world.\n\nIn fact, many people who haven't filed bankruptcy subscribe to his newsletters because he is one of the few people that know what's going on in the "inside" of the credit industry.\n\nAs far as credit reporting goes, go to www.annualcreditreport.com and get copies of all 3 of your credit reports. You should begin by disputing any items that are not reporting correctly. Your immediate goal should be to get any account that was discharged in your bankruptcy to report as "Included in Bankruptcy" or to be deleted.\n\nOnce you have done that you should begin the process of rebuilding your credit. First off you need to be educated about how credit works in the U.S.  Every credit decision a lender makes is driven by FICO credit scores. You can go to www.myfico.com and look in the Credit Education section to learn how FICO credit scores are determined. To build your credit you have to place positive credit items on your file that will report positively for 6-12 months minimum. If you want your credit to be in the Excellent category (FICO score 750+) then your goal should be to have 3-6 revolving accounts(dept. store, gas cards, Visa. etc.) WITH NEAR ZERO BALANCES and 1-2 installment loans(car, mortgage) that are reporting positively.\n\nI would start out with a Bank of America or Wells Fargo secured Visa card. Both banks have great programs with low annual fees, low starting amounts ($300.00) and no junk fees. After 12 months of positive on time payments you will graduate to an unsecured status. Then you will probably be approved for other cards such as dept. store and gas cards.\n\nIt can be done within 2 years!\n\nGood Luck
162604
Do you have a steady job with a steady income?  Then it won't be too hard to make a budget to help you pay off the debt.\n\nWork with your creditors.  They like it when you communicate with them.\n\nYou CAN buy a house, car, etc.  But you will have to either 1) learn creative financing from places like www.richdad.com (for property buys) or 2) expect to pay a very high interest rate to "re-establish your credit" and places like that won't report your good credit payments - only if you miss one.  \n\nI bought 2 properties about a year after my bankruptcy and the interest rate wasn't bad at all.  Some "for sale by owners" will work with you on their own terms and their own interest rate to help you get a house.  Just be aware that you have to look at a few hundred homes to get an idea of value of the property vs. value of the loan terms.\n\nBankruptcy is getting harder and harder to actually file with the courts because the courts are recognizing that folks are doing the bankruptcy route instead of showing that they actually did attempt to pay back the debt.  I think, in some states, part of the requirement to file bankruptcy is to have evidence that shows you have attempted credit counseling or some other way to show you have attempted to work with the creditor and pay back the debt before a judge will even consider your bankruptcy case.
120218
Look for a financial advisor, like in H&R block...Don't file bankrupticy until you are sure you don't have any more options.God luck.Don't try to do all by yourself, they have helpfull information that we don't.
969637
Go to a mortgage broker, they are easier than banks and have a number of lending programs. Anyone can get an FHA mortgage 18 months out of bankruptcy, so I'm sure you can get a mortgage having not had any of these past issues! There may be a few things you need to touch up but I'm sure you can get a mortgage. You just have to know where to look....and don't take no for an answer.
445929
Did the Earth just shake?  Something awful happened, cause we finally got a wise answer from icsowesmemoney!\n\nFact.  You owe $20,000.  \nFact.  You make $800/month\nFact.  If you were somehow able to find $200 in that tight budget, and factoring in interest payments, it's going to take over 10 years to pay this debt!\n\nThe other responders completely ignore your comments on the difficulty in finding a better paying job.  Some day, they will lose their jobs or get laid off, and will discover this fact for themselves.\n\nYou are a prime candidate for filing chapter 7.  You will not meet the "means test" because you don't make enough money to be forced into a Chapter 13 "wage earners" plan.  With no home or car, you have nothing.  \n\nCheck with the local bankruptcy attorneys, and you may even find a program for low income people and get a very low legal cost.\n\nGood luck.  You are in very good company.  Many thousands of other people filed for bankruptcy last year for this very reason.
1106428
You don't.  Bankruptcy is an extremely complex proceeding.  You need an attorney to do it properly.\n\nIf you insist on doing it yourself, first step is to get a law degree, and then pass the bar exam.  That should take 6 - 8 years.  Even then, you'll have a fool for a client and an idiot for an attorney.
757006
In order to file for bankruptcy they have to show all of the account records.  If the company has shredded financial documents they can not file bankruptcy because they can not show proof of financial records.