what happens when people file for bankruptcy?

Answer 1

These days you can't even file unless you first go to credit counseling. The laws have changed and it is MUCH more difficult. Also, you don't get nearly the debt relief you used to.

Answer 2

If you get a good lawyer you can erase all debts (non-government related)

You're "credit" gets F'd a bit but for most people it would be better to start with a "clean slate".

May want to use that as a last option though.

Cool background by the way!
; )


The whole monetary system should be given an enema to begin with though. We should go back to a barter system! lol

Answer 3

all creditor claims are halted until the court makes a ruling. Then it depends on what chapter bankruptcy it was filed for.

Answer 4

You should visit HTTP://HELP.LOANSVAULT.NET I am sure here you can find the best option for you

RE What happens when people file for bankruptcy?

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Answer 5

I recommend you to check this site that can solve your doubts WWW.FINANCE-SOLUTIONS.INFO

RE:What happens when people file for bankruptcy?

Answer 6

You get charged money, All of your debt is written off. And your credit is screwd for 8 years. 7 years for the bankrupsy to fall off, 1 year to be able to start rebuilding your credit.

remember, for the next 7 years it will be near impossible to get anythign, cars, personal loans, appartments (youll need downpayment). cell phones plans. anything they check your credit for. when they see bankrupsy, they see, they dont pay bills. noone will give you credit.

the first thing you want to do is speak to a credit rebuilding comapny. NOT debt consolidation. a credit rebuilding company will actually help get thigns removed from your credit after being paid. rather than waiting 7 years for each thing on your credit, after paying it off.

Answer 7

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