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Bankruptcy
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If you are in over your head in debt, bankruptcy can help you eliminate your debt and get a fresh start. But bankruptcy is not to be taken lightly. You could lose valuable property and take a hit to your credit. And for some people, nonbankruptcy alternatives might be just as effective.
If you're considering bankruptcy, take the time to learn what bankruptcy is, what it can (and can't) do, how it works, and how it might affect your property.
In this area of our website, you'll find a brief introductory video as well as a large library of articles, books, and Q&A's to help you get acquainted with bankruptcy law.
A Quick Introductory Video
Kathleen Michon, J.D., the lead editor of this website, has created a brief introductory video about what bankruptcy can do.
Learn More
See the areas below to learn more about how bankruptcy law works, the different types of bankruptcy available, alternatives to bankruptcy, the bankruptcy process, the effect on your credit, and more.
Bankruptcy Topics Covered
We have put together a large collection of articles and other pages that address many different issues regarding bankruptcy. We've organized them into the following categories.
Is Bankruptcy Your Best Option?
Learn about the advantages and disadvantages of bankruptcy compared to the alternatives. Find out if bankruptcy might be a good solution for your debt problems.
Learn about the advantages and disadvantages of bankruptcy compared to the alternatives. Find out if bankruptcy might be a good solution for your debt problems.
Bankruptcy Filing and Process
Learn about the process of filing a bankruptcy petition, the automatic stay, the meeting of creditors, the Chapter 7 means test, the discharge of debts, and more.
Learn about the process of filing a bankruptcy petition, the automatic stay, the meeting of creditors, the Chapter 7 means test, the discharge of debts, and more.
How Bankruptcy Works: Chapter 7 and Chapter 13
Most debtors will file under one of two Chapters of the bankruptcy code -- Chapter 7 or Chapter 13. Learn how they work and the special features of each.
Most debtors will file under one of two Chapters of the bankruptcy code -- Chapter 7 or Chapter 13. Learn how they work and the special features of each.
Bankruptcy in Your State
Bankruptcy is a system of federal law, but state law does play a role. For example, states set their own property exemption laws, which help determine what you keep and give up in Chapter 7 bankruptcy.
Bankruptcy is a system of federal law, but state law does play a role. For example, states set their own property exemption laws, which help determine what you keep and give up in Chapter 7 bankruptcy.
What Happens to Your Debts in Bankruptcy?
Learn what happens to your debts in Chapter 7 and Chapter 13 bankruptcy, including your mortgage, car loan, credit card debt, medical bills, and more.
Learn what happens to your debts in Chapter 7 and Chapter 13 bankruptcy, including your mortgage, car loan, credit card debt, medical bills, and more.
What Happens to Your Property in Bankruptcy?
Many people believe they will lose their property if they file for bankruptcy, but for most filers this is not the case. Learn what happens to your car, home, and other property, in Chapter 7 and Chapter 13 bankruptcy.
Many people believe they will lose their property if they file for bankruptcy, but for most filers this is not the case. Learn what happens to your car, home, and other property, in Chapter 7 and Chapter 13 bankruptcy.
Bankruptcy Exemptions
Bankruptcy law allows for exemptions which vary by state. Exemptions effectively make much of your property "off limits" to the trustee in a bankruptcy case.
Bankruptcy law allows for exemptions which vary by state. Exemptions effectively make much of your property "off limits" to the trustee in a bankruptcy case.
Bankruptcy for Small Business Owners
If your small business is inundated with debt, you can file for Chapter 7, 13, or 11 bankruptcy. Before you decide to file, you need to determine if you should file a personal bankruptcy or a business bankruptcy.
If your small business is inundated with debt, you can file for Chapter 7, 13, or 11 bankruptcy. Before you decide to file, you need to determine if you should file a personal bankruptcy or a business bankruptcy.
After Your Bankruptcy
Once your bankruptcy case is over, it's time to rebuild your credit. Here you'll find information on repairing your credit and getting credit cards and loans after bankruptcy.
Once your bankruptcy case is over, it's time to rebuild your credit. Here you'll find information on repairing your credit and getting credit cards and loans after bankruptcy.
Helpful Do-It-Yourself Books from Nolo
At Nolo we pride ourselves on giving people the tools and information they need to handle legal issues on their own. Here are some of our award winning bankruptcy books, written by expert attorneys in plain English.
How to File Chapter 7 Bankruptcy
Learn how to file your own chapter 7 bankruptcy case, complete with step by step instructions on completing each form, and legal information about the process.
Learn how to file your own chapter 7 bankruptcy case, complete with step by step instructions on completing each form, and legal information about the process.
Chapter 13 Bankruptcy
Chapter 13 is the more complicated type of bankruptcy. This book will show you how it works, how to make a payment plan and more.
Chapter 13 is the more complicated type of bankruptcy. This book will show you how it works, how to make a payment plan and more.
Bankruptcy for Small Business Owners
This books guides small businesses through the Chapter 7 bankruptcy process, paying special attention to the issues small businesses face when filing for bankruptcy.
This books guides small businesses through the Chapter 7 bankruptcy process, paying special attention to the issues small businesses face when filing for bankruptcy.
Get Expert Help
Many people feel more comfortable having an attorney guide them through the bankruptcy process. If you want to hire a lawyer, or just get some questions answered, we can help you connect with local bankruptcy attorneys.
Get Connected with Local Lawyers
The fastest and easiest way to find, choose and connect with bankruptcy lawyers licensed in your state and serving your local area.
The fastest and easiest way to find, choose and connect with bankruptcy lawyers licensed in your state and serving your local area.
Browse Through Nolo's Bankruptcy Lawyer Directory
Browse our bankruptcy lawyer directory. View profiles of local lawyers, complete with locations, fees, and practice philosophy.
Browse our bankruptcy lawyer directory. View profiles of local lawyers, complete with locations, fees, and practice philosophy.
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