Overview Articles
Overview Articles
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Do I Need a Lawyer to File for Bankruptcy?
If you have a simple enough bankruptcy case, you can file for Chapter 7 without hiring a bankruptcy lawyer and save the legal fees. Our DIY bankruptcy quiz helps you assess the complexity of issues in your bankruptcy case.
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What You Should Know About Filing for Bankruptcy
Learn how each bankruptcy chapter works, what you should and should not do before filing, and what to expect during and after your bankruptcy. Also, find answers to commonly searched bankruptcy questions.
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The Chapter 7 Bankruptcy Process
A typical Chapter 7 bankruptcy case is relatively straightforward. You will spend most of your time completing the bankruptcy petition, schedules, and other forms, which will require you to list your debts, assets, financial transactions, and so on. Once you've filed your paperwork, the bankruptcy trustee takes over your case.
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Chapter 11 Bankruptcy vs Chapter 13 Bankruptcy
Both Chapter 11 and Chapter 13 bankruptcy are reorganization chapters that require debt repayment over time. While Chapter 11 bankruptcy is primarily filed by businesses, it's also a choice for individuals who don't qualify for Chapter 13.
The Bankruptcy Court
The Bankruptcy Court
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Can the Bankruptcy Court Take an Earned Income Credit?
An earned income credit is considered an asset in a bankruptcy case. Learn why you must protect your earned income credit with an exemption or risk losing it in bankruptcy.
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Can the Bankruptcy Court Take Life Insurance Funds?
When you file for bankruptcy, you might be able to protect the value of a life insurance policy or funds received as a beneficiary under another person’s policy. However, it will depend on whether a bankruptcy exemption covers the value.
Q&As on Filing for Bankruptcy
Q&As on Filing for Bankruptcy
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Where Is The Cheapest Place To File For Bankruptcy?
The location of your residence and property determines where you can file for bankruptcy, and the filing fees are the same no matter where you file. Learn how much you must pay to file under Chapters 7 and 13.
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Can I Keep My Rental Property in Bankruptcy?
Do you own rental property? If you own a house, an apartment, commercial space, or a multi-unit building that you rent out to tenants, then you should consider how it will be affected if you file for bankruptcy.
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Timing Your Bankruptcy Filing: When to Delay or Avoid Bankruptcy Altogether
Learn when it might be a good idea to delay filing for bankruptcy, such as when modifying your mortgage or anticipating an income drop that will make qualifying easier.
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Should I Repay Debts Before Filing for Bankruptcy?
Although paying off debts before filing bankruptcy may seem like the right thing to do, it is often not a good idea.
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Is Bankruptcy a Good Option for Struggling Small Businesses
Each bankruptcy chapter offers unique benefits, and understanding these dynamics will help you choose the best solution for your small business needs. Or, you might find the better choice is filing an individual bankruptcy. Learn why.
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Chapter 11 Bankruptcy vs Chapter 13 Bankruptcy
Both Chapter 11 and Chapter 13 bankruptcy are reorganization chapters that require debt repayment over time. While Chapter 11 bankruptcy is primarily filed by businesses, it's also a choice for individuals who don't qualify for Chapter 13.
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The Chapter 7 Bankruptcy Process
A typical Chapter 7 bankruptcy case is relatively straightforward. You will spend most of your time completing the bankruptcy petition, schedules, and other forms, which will require you to list your debts, assets, financial transactions, and so on. Once you've filed your paperwork, the bankruptcy trustee takes over your case.
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Paperwork You Will Need to File for Bankruptcy
Filing for bankruptcy involves completing a large packet of forms on which you disclose all aspects of your financial situation before filing them with the bankruptcy court. Learn about the information needed to complete the forms.
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The official bankruptcy forms that you need to file for both Chapter 7 and Chapter 13 bankruptcy are now available online through the website of the U.S. Courts. You can complete the forms online, save them, and print them.
Credit Counseling & Debtor Education in Bankruptcy
Credit Counseling & Debtor Education in Bankruptcy
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The Debtor Education Course Requirement in Bankruptcy
Before receiving a Chapter 7 or Chapter 13 discharge, filers must complete a personal financial management course that teaches money and credit management skills.
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Chapter 13 Rules: No Means Test Required
Although the Chapter 7 means test doesn't apply in Chapter 13, you still must meet Chapter 13 qualification requirements and prove you earn enough to pay the debts required by the Chapter 13 plan.
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Bankruptcy Chapter 7 Means Test
The Chapter 7 means test looks at your income, and in some cases, expenses and debts, to determine whether you could afford to pay back at least some of your debts. If so, you won't be allowed to use Chapter 7.
