Frequently Asked Questions
What is bankruptcy?
What can bankruptcy do for me?
What does bankruptcy not do?
What are the different types of bankruptcy available to individuals and/or small businesses?
Who will know about my bankruptcy?
Will my friends and/or relatives know I have filed bankruptcy?
Will my employer know I have filed bankruptcy?
Can I file bankruptcy on some creditors and not on others?
If I file bankruptcy, does my spouse have to file with me?
If I filed bankruptcy before, can I file again?
If I filed bankruptcy before, how long do I have to wait before I am eligible to file another bankruptcy and receive a discharge of my debts?
What happens if I filed bankruptcy before, need to file again and cannot wait until I am eligible to receive a discharge of my debt?
How will bankruptcy affect my co-signer?
Will I have to go to court?
Will bankruptcy wipe out all my debts?
Will I lose all of my property and belongings if I file bankruptcy?
What happens to my home and car if I file bankruptcy?
Will bankruptcy affect my credit?
How long will bankruptcy stay on my credit report?
What else should I know?
- Utility Services – public utilizes such as the electric company, cannot refuse or cut off service because you have filed for bankruptcy. However, the utility can require a deposit for future service and you do have to pay bills which arise after bankruptcy is filed.
- Discrimination – an employer or government agency cannot discriminate against you because you have filed for bankruptcy; this includes government agencies and private entities involved in student loan program.
- Driver's license – if you lost your license solely because you could not pay court-ordered damages caused in an accident, bankruptcy will allow you to get your license back.
Are there alternatives to bankruptcy?
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