When you file bankruptcy, does that mean you don't have to pay any debt you owe?
358197
There are certain debts that cannot be discharged, such as student loans and child support.  The new laws make it a little harder, for example, if your credit card company says that you recently used the card for say a 2000 trip to disney world right before you filed, that would not be dischargable.  They are looking into fraud more and more.
1002772
They would need permission from the Bankruptcy Court to go ahead with foreclosure proceedings, but someone (you) would have had to notify them of the bankruptcy filing before they could be forced to stop.  At that point they could file a motion "for relief from the automatic stay" with the Bankruptcy Court, and because they are a "secured" creditor (they have a lien on the land) they would probably be allowed to be excused from the stay if you were not making payments.
21828
If you mean you're trying to find if your bankruptcy has been dropped by the credit reporting agencies, you can obtain an annual credit report free of charge from all three reporting agencies.  If there is information you believe should be changed, each has a simple method of reporting that and getting a fairly quick resolution.  Here's the link to this program:
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.
14792
Chapter 7\n\nChapter 7 bankruptcy, sometimes call a straight bankruptcy is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts usually within four months. In the vast majority of cases the debtor has no assets that he would lose so Chapter 7 will give that person a relatively quick "fresh start".\n\nOne of the main purposes of Bankruptcy Law is to give a person, who is hopelessly burdened with debt, a fresh start by wiping out his or her debts.\n\nChapter 13\n\nChapter 13 Bankruptcy is also known as a reorganization bankruptcy. Chapter13 bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years. This type of bankruptcy appeals to individuals who have non-exempt property that they want to keep. It is also only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts. More information on Chapter 13.\n\nNew Bankruptcy Law taking effect on October 17, 2005: The major intent of bankruptcy reform is to require people, who can afford to make some payments towards their debt, to make these payments, while still affording them the right to have the rest of their debt erased. These people MUST file Chapter 13. \n\nCredit Report\n\nBankruptcy filings are public records.  However, under normal circumstances, no one will know you went bankrupt. The Credit Bureaus will record your bankruptcy and it will remain on your credit record for 10 years.
662752
I can't stand you people who are giving horrible advice. If you file suit against someone and they file bankruptcy, you are still able to collect. Judgments are non dischargeable when filing Bankruptcy. Any court order form of payments are nondischargeable. You get a judgment and record it with the clerk/state, it is vaild for 10 years and if the defendant receives any money or assets you can place a lien on them. Also, if you get a judgment you and your attorney can file a citation to discover assets to get your settlement. They will then need to sell any assets they own (up to a certain amount) to satisfy your judgment.\n\nDo not take the first amount the insurance company offers you. You can get more. Even without an attorney you need to ask for things other things like gas that was in your car, if you had new tires, they usually will pay the tax on a new car up to the value of your old car, the title and license. You can accept the check from you insuance company and then sue her and her insuance for reimbursement. Your insurance will put a lien on the amount you recover usually 2/3s of what they paid out. Don't give your insurance company any information that will incriminate you. You can tell them you are seeking counsel and will be intouch with them about it.\n\nIf you are moving out of state, you need to make sure that you are able to go back to the county that you are moving from because you need to file suit in either the county you lived when this happened, county it happened in or the county that she live in. (assuming they are all different)
859021
If you're in deep debt (like over $25,000) you might want to consider it. I was over $28,000 in debt and I decided to file Chapter 13 (Repayment plan). It was the best move for me because I would have never paid off my credit card debt. True, Bankruptcy does stay on your credit report for at least 7 years, but it's worth ridding yourself of the aggrevation and stress of not having any extra money to save. I filed in 2001 and have finally got my credit back on track. Plus, my bankruptcy will be removed from my report in 2008. Contrary to what you've heard about it, there are still many places that extend credit to you even after a bankruptcy. If you're deep in debt, talk with a lawyer and get the facts.
1049546
Student loans cannot be discharged at all under any bankruptcy. Credit card debt can be discharged if you qualify for chapter 7, but the big change is that most people will not qualify for chapter 7, but instead must file chapter 13 bankruptcy, which creates a 3-5 year payment plan in which all disposable income is used to pay off the debt. After the plan is fulfilled, the remaining debt is discharged.
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.
792019
If you are in a Chapter 7 they can take certain things but usually not all your personal belongings. \n\n\nRead this page: \nhttp://www.expert-credit-advice.com/bankruptcy_facts.htm
83530
A bankruptcy usually has no bearing on your tax return, since debts discharged by bankruptcy are not considered income in the way a discharge of debt outside of bankruptcy is.  Unless you have a more complicated return, like one involving a business, it will probably not be a factor.
689125
I did it 10 years ago and it worked out for me but don't be misled.  There are 2 different bankruptcy clauses.  Chapter 13 and chapter 7.  One is based on a person that was paying on time and suddely were thrust into the situation because of a hardship like being laid off or extreme medical bill occuring.  This is the better situation, Chapter 13.  Chapter 7 is for someone that ran up their credit and lived beyond their means.  It is hard to recover from Chapter 7.
26112
yes i'm essentially debt free. i have no car payments, no student loans, and only a single mortgage on my primary residence. we have several credit cards, but we use them as charge/debit cards, paying off the entire balance every month.\n\none of the best things we do is route money away from our primary spending bank accounts and auto debit as many bills, savings plans, etc. so that our primary bank account balances reflects what we can spend month to month.\n\nwhen we put together our plan to eliminate our debt, we listed out our monthly expenses and found we had money unaccounted for that presumably when to frivolous spending like eating out and small purchases. we consciously eliminated small expenses like opting to bring lunch to work as opposed to going out. we then diverted that money towards paying down the debt. of course, self control in not buying any more "toys" was a big part of it as well.
890213
When you find out be sure to tell me!\n\nBut seriously the only "free" way to get out of debt would be to file bankruptcy and even that's not free.  You have to obtain a lawyer and depending on what kind of bankruptcy you're eligible to file you may still have to pay a small payment each moth depending on the amount of debt you've incurred.
160428
Less the laws are different there, as long as you are making the payments they will not take it.  Pretty much all they care about is getting their money.  But when a spouse or ex spouse files bankruptcy any debt will fall on the party that did not file bankruptcy.  So bascially he made it where you have no choice but to pay it or ruin your own credit even more.  Now keep in mind girly i am not a lawyer, but i have enough friends who one of them filed bankruptcy and not the other and that is how it worked. Seems the way most ex's like to get revenge is to file bankruptcy and lay all depts off on the other person.  You might want to double check, but i think most bankruptcy laws are the same across the US
191386
As previously stated, it will depend on what kind of debt you are talking about.\n\nStudent loans, child support, taxes, and other debts can not go away with a bankruptcy.\n\nMortgages and car loans, or any type of secured loan can be included, but you still have to pay those loans or have the property repo'd.  But the interest rates and payments may be a little more favoriable.  \n\nOther loans will be handled in a bankruptcy, including the judgements.\n\nBut.....(yeah, there are always "buts")\n\nThey do not get erased unless you file for a Chapter 7.  The new bankruptcy laws passed last year make it more difficult for people who currently have an income to file Chapter 7's.  You will be forced into a Chapter 13, which means you have to pay back a portion of the debt.  The amount depends on your current income, and the state you live in.\n\nPlease take the time to read the link below.  It has info on the new bankruptcy laws.\n\nIn my opinion, unless you owe a whole lot of money, it's not worth filing bankruptcy.  You need to find a way to negotiate with the creditor.
343784
As of October 2005 you can no longer file bankruptcy on any credit cards and that is in every state as far as I know. I know Michigan, Indiana, and Ohio for sure but I think it may include all 50 states. It was in the news and most backruptcy lawyers have  a copy of the newpaper article in their offices. Yes it is true you can file on hospital bills, autos, or anything you owe on except credit cards.