2006-12-11 12:24:34 · 4 answers · asked by swanlbby 3 in Business & Finance ➔ Personal Finance
Mand is right and well said.
Here is some rading material.
http://www.expert-credit-advice.com/bankruptcy_facts.htm
2006-12-11 15:32:58 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The first two answers are incorrect
There are stricter guidelines for filing a Chapter 7 (complete discharge or elimination of unsecured debt), which will force more people into filing under Chapter 13 (repayment plan)
The changes in the guidelines include a new limit on the amount of income you receive, and also the amount of money you have left over once you pay necessary expenses each month.
Most working class people can still file under Chapter 7. If you are considering this, see a lawyer with a good rep who gives free consultations. He or she will be able to tell you if you are a good candidate for Chapter 7.
2006-12-11 12:35:54 · answer #2 · answered by mand 5 · 2⤊ 0⤋
You pay 80% on the dollar.
2006-12-11 12:29:29 · answer #3 · answered by Anonymous · 0⤊ 1⤋
you can't file for it, must set up payment plan ?
2006-12-11 12:27:21 · answer #4 · answered by ? 7 · 0⤊ 1⤋