Bankruptcy Questions and Answers

Bankruptcy is a big decision and can also be quite confusing. Browse our collection of Bankruptcy Questions and Answers, and speak to a local attorney if you want to learn more!
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Is Filing Bankruptcy a Good Idea?

Everyone’s Situation is Different Some people have the misconception that bankruptcy is always bad. Many Americans who have not faced serious personal debt have the impression that debts come from irresponsible behavior. But the reality is that many people facing insurmountable debt are put in that situation due to circumstances outside of their control. Personal … Continue reading »

Will Bankruptcy Erase IRS Debt?

We often hear questions about what kinds of debt bankruptcy can eliminate. One big lender for many Americas is the IRS. Fail to pay your taxes for a couple of years, and you can end up owing the IRS thousands of dollars or more. Government Debt in Bankruptcy Debt owed to the IRS falls into … Continue reading »

What Happens to Inheritance After Bankruptcy?

One fairly common concern when filing bankruptcy is what happens to any assets received as inheritance? Your inheritance can be one of the largest sources of income in your life. Rarely will you receive a large check or a major asset like a family home, and protecting that cash or asset is an important concern, … Continue reading »

Can Bankruptcy Hurt my Chances of getting a Job?

In our troubled economic times, you may be considering bankruptcy to recover your financial footing, but you may also be worried about its impact on your future. After you clear your debts and get a fresh start, you will still need to live your life, and that includes holding a job, and probably getting several … Continue reading »

How Can I Keep my Home After Bankruptcy?

Keeping your home during bankruptcy is a major concern many of us face. Your family will need a place to live after bankruptcy, and if you own your own home, you may wish to keep it after filing. The fate of your home depends largely on what kind of bankruptcy you chose to file – … Continue reading »

Will I Lose my Social Security disability if I File Bankruptcy?

If your are receiving Social Security Disability payments, or have received payments which you have saved, you may be able to keep this cash, and protect it during a bankruptcy. Social Security payments are exempt from being given up during a bankruptcy, but you need to make sure you handle these funds correctly to keep … Continue reading »

Can I Transfer Ownership of my Car Before Bankruptcy to Keep It?

Cars are a common point of concern when filing bankruptcy. See a related article – Can I Keep my Car After Bankruptcy? When facing bankruptcy, you may need to figure out how to keep your car. One strategy that people often think of is to sell their car to a family member or friend, then … Continue reading »

Can I Rent an Apartment if I File for Bankruptcy?

After filing for bankruptcy, it is a good idea to try lower your expenses. One way to do that is to move into a less expensive home. Many Americans who file for bankruptcy give up a home that they own, or decide that their previous rental was too expensive. Because of these reasons or another, … Continue reading »

Can I Keep my Car After Bankruptcy?

Like many Americans, you probably need your car. You need your car to get to work, to run errands, to take your kids to school, or to go to the doctor. Because our cars are so important to our every day lives, you may not be able to give up your car. So how do … Continue reading »

Can I File Bankruptcy Individually if I’m Married?

It is very common for spouses to have debts separate of each other – either debts from before the marriage, or debts that build up on your independent credit. Even after being married, the credit of each spouse will be measured individually if the debts are just in one person’s name. An example is a … Continue reading »