How difficult is it to file bankrupt?
344728
I helped my girlfriend file a year ago and it was relativly simple.  I've since learned that the laws were changed (and few people know because Iraq/Elections/Missing Persons were the only national headlines.  It' supposed to be exceedingly difficult now, especially if you have any assets that most people would consider protected. \n\nI'll see if I can find some more.\n\n\nMore: "WASHINGTON - The most sweeping rewrite of the U.S. Bankruptcy Code in a quarter- century, making it harder for debtors to erase credit card and other obligations in court proceedings, goes into effect Oct. 17.\n\nAmong the changes made by the new law:\n\n* It sets up a new test for measuring a debtor's ability to repay. People with insufficient assets or income can still file a Chapter 7 bankruptcy, which if approved by a judge erases debts entirely after certain assets are forfeited. But those with income above their state's median income who can pay at least $6,000 over five years - $100 a month - will be forced into Chapter 13, under which a judge orders a repayment plan.\n\nIn calculating income, people filing for bankruptcy may deduct various expenses as defined by the Internal Revenue Service, including food and clothing, and some health and disability insurance expenses.\n\n* People seeking bankruptcy protection are required to take credit counseling courses within 180 days of filing.\n\n* It gives priority to a spouse's claims for child support among creditors' claims on a debtor in bankruptcy.\n\n* The law allows for special accommodations for active-duty service members, low-income veterans and those with serious medical conditions in the new income test for bankruptcy applicants.\n\n* The law supersedes the unlimited homestead exemptions in states including Florida, Iowa, Kansas, South Dakota and Texas that allow wealthy people to file for bankruptcy and keep their mansions sheltered from creditors. The law limits the exemption to $125,000 if the person in bankruptcy bought his or her residence less than three years and four months before filing.\n\n* It also requires billing statements for credit card accounts to include an example of how long it would take to pay off a balance at a specific interest rate if only minimum payments are made.\n\nThe law also makes it tougher for businesses that file for bankruptcy protection:\n\n* The law limits the exclusivity period, the 18-month span during which a company in Chapter 11 has the sole right to propose a reorganization plan. Debtor companies are no longer given unlimited extensions of the exclusivity period.\n\n* It limits the ability of companies to give lucrative pay packages as a way of retaining top executives.\n\n* Companies must decide within 210 days, or seven months whether they will keep or relinquish leases on property.\n\n* Creditors can seek to have a Chapter 7 liquidation filing dismissed or converted to a debt reorganization plan under Chapter 11. "\n\n\nBest of Luck,\n\nArmus
289695
That's a very good question.  And the answer is, in general, no.  You would have to file a complaint to determine dischargeability of debt alleging one of the grounds in Section 523(a) of the bankruptcy code.  And the cost of that complaint might be more than you would ever collect on the check.  But if they bounced a big check intentionally with the intention of defrauding you, for example, you might have reason to pursue that kind of case.
1051276
Each case is different. But most bankruptcy courts are extremely backlogged now. Did you file before or after the bankruptcy reform law went into effect in October of 2005? If you filed before, along with the millions of other people who rushed to file, you can expect delays. If you filed after, your case is likely much more complicated than your friend who probably filed prior to the reforms went into effect.\n\nMost of all - remember that each case is different - different Trustees, different circumstances. Don't compare your case with a friend's and expect them to be exactly the same.
628859
Depends on 1) how long ago the bankruptcy was 2) where you credit stands now 3) where you are financially now and 4) how much the loan is for.\n\nEasiest way is hit the bank and ask.
651008
You can have a thousand bankruptcy's on your record and still qualify for a loan.  Finding someone to loan it to you is the trick.\n\nIt depends on how many, and how much.  You can probably get a loan but the interest rate will be a little high.
3856
good luck getting a loan if you've already filed bankruptcy.  a lot of companies won't loan to anyone who's already filed bankruptcy.
817422
You've received a bunch of bogus responses, now read a response from a bankruptcy attorney.\n\nWhen you file for Chapter 7, the court schedules a meeting of creditors in each case, usually about 30 days after the filing.  The meeting is nick-named the "341 meeting" after the section of the bankruptcy code that requires it.\n\nThe chapter 7 trustee asks you about assets.  In most no asset cases, the trustee's work is concluded at the 341 meeting.  He does not monitor the debtor's post petition income or assets or perform any other "tests" of the debtor's entitlement to a discharge.\n\nThe deadline for a creditor to file and adversary proceeding to object to yo receiving a discharge is 60 days after the date for the first meeting of creditors.  If no creditor objects, then you will generally receive you discharge within few days after the adversary proceeding expires.\n\nMost of the Chapter 7 cases I've handled in the last year take 3 to 3 1/2 month form the date of filing to the date fo the discharge.
989879
simply put, no, and because of recent law changes it's more difficult to file chapter 13. You need an attorney.
1142442
as you know that could be tough with such a recent filing\nhowever if anyone can pull something together it would be here\nhttp://www.wesayes.com
1088032
You can file Pro Se (yourself) - however, your median income must be below your state's average median income to even qualify for Chap7 - AND you have to complete a financial management education course BEFORE you can even file.  You can call the Trustee's Office in your area to get a list of approved classes .......If you don't qualify for Chap7 you will be forced to go Chap13 (if you want bankruptcy protection)....\n\nFilling out the actual documents are pretty straightforward....but first you should determine which Bankruptcy so you don't have to fill out the forms twice.......\n\nMedian income is based on the last six months.....so if you lost your job recently, you may not qualify....
255352
In most cases, after you have declared Bankruptcy and been discharged of all your debts you become a "better credit risk" that you were before.  You should have no trouble in obtaining a loan for a car [provided you need one...if not dont go that way].  Of course you must be able to show that you can pay for it based on your income.  The interest for anything you do will be high from now on....You can also try for a loan from a small loan company that reports to the credit bureau...borrow around $50 to $150.00 and pay it on time [basically three payments]....then go for one in the $150-$300 range and again pay it a few days ahead of schedule...make sure the place you go (1) report to the credit bureau and (2) is going to give you the loan - since credit inquiries cost you "points" on your credit score.  Last try for a "store" card....department store, ask for low credit line....talk to them first before you file an application for there card.
374354
What you need and what you get could be different.\n\nThe filing fee is now $274 going up to about $299.  You can file a petition to waive this if you are filing "in forma pauperis" but you would have to file an affidavit proving your inability to pay with your current assets or your cash flow.\n\nYou need credit counseling before you file and that costs $50 or so, but you can get that waived if you are truly indigent.  You need financial education after you file and the cost for that is also less than $50.  You can get that waived if you are truly indigent.\n\nBeing truly indigent and proving it to a court's satisfaction are two different propositions.  \n\nIf you are really truly indigent, your best bet is to look for a legal aid attorney to help you.  The new bankruptcy law is complicated and there are many traps in it for the unwary.\n\nYou can file a bankruptcy petition by yourself "pro se" but it is getting harder and harder to do so effectively.
140389
Yes.  So long as you are out of a chapter 13, you can file another chapter 13 or a chapter 7.  If you file the chapter 7, you cannot file another chapter 7 for seven years but you could file chapter 13 again once the 7 is discharged.  In fact, you can file chapter 13 bankruptcies indefinitely so long as you are no longer in the midst of another bankruptcy.
529873
If your credit is already shot, bankruptcy might be an option.  That way you don't need to pay back your unsecured debt, and you can start rebuilding your credit once you aren't trying to pay too much each month with too little money.  Be aware, though, that a bankruptcy will stay on your credit record for seven to ten years.  \n\nIf you already find that you can't get credit because you've had problems, it won't hurt you, but if your credit is salvageable, try contacting a consumer debt management outfit.  They will negotiate with your creditors to reduce or possibly even eliminate interest rates, and you will pay the outfit a flat amount every month, which they will pay out to your creditors.  They usually charge something for their service, but it is not much and it is a whole lot less than what you are probably paying in interest on your existing debt.\n\nGood luck.  There is a light at the end of the tunnel.  You just have to perservere.
284022
I don't think that companies that are considering bankruptcy are posting this info on the web. I believe bankruptcy court might be your best bet but hey thats just a guess.
609005
i work for a financial institution and i dont believe you can get a loan on your own if you are bankrupt. you would need someone with great credit to co sign with you and i bet it would have a high interest rate
534520
You can file it yourself.  But the advice of an attorney or consumer credit counseling may help prevent you from having to take this step, even when you may think it is necessary.