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Posts categorized: bankruptcy

How do I file for bankruptcy?

Bankruptcy has long-term financial and legal consequences – hiring a competent attorney is strongly recommended. Corporations and partnerships must have an attorney to file a bankruptcy case. Individuals, however, may represent themselves in bankruptcy court. While individuals can file a bankruptcy case without an attorney or “pro se,” it is extremely difficult to do it successfully.  According to the United...

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How does bankruptcy affect credit?

One of the things that people fear the most when filing for bankruptcy is how it will impact your credit score and the ability to use credit.  Our society is very dependent upon buying on credit so it can be a huge inconvenience to work on a cash only basis.  It is impossible to predict what will specifically happen to...

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Does Bankruptcy Wipeout a Judgement?

As a general rule, filing bankruptcy effectively eliminates or “discharges”  judgments, debts, tort liability and others types of general liability. According to Bankruptcy Laws, judgments for most types of general liability are dischargeable such as: general liability from adverse court rulings include suits based on loan defaults, non-payment of credit cards, tort liability, breach of contract, and many others. The...

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Is bankruptcy the end of the world?

Your health deteriorates and medical bills build up.  The stock market drops and your retirement nest egg disappears.  Your employer downsizes and you get laid off.  Your family experiences the death of the “bread winner”.  Any number of life events could precipitate the need to declare bankruptcy.  Feeling upset and nervous about filing is normal but rest assured that you...

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