Frequently Asked Questions
What can bankruptcy do for me?
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?
How will bankruptcy affect my co-signer?
A Chapter 7 prevents a creditor from collecting from you; however, it does not stop the creditor from demanding payment from your co-debtor. If the debt is secured (house, car, furniture, boat, etc.) and you want to keep the collateral, you can continue to pay the debt during the bankruptcy to protect the co-signer. If the debt is unsecured (credit card, utilities, medical, etc.) you can repay the debt after your discharge to protect a co-signer.
Chapter 13 may provide protection to co-signers if the co-signed debt was for consumer goods and the debt is paid through the Chapter 13 Plan. It does not provide co-signer protection for business debts or tax liability.
Your bankruptcy filing may negatively impact your co-signer's credit rating as the co-signed debt will be listed on the co-signer's credit report as being included in bankruptcy.
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?
Initial Consultation
Use this form to contact us to arrange for an initial consultation. The first 30 minutes of a bankruptcy consultation is free, additional time or other matters such as student loan issues or wills billed at standard rates. Please provide details as to how we can assist you.
Canby Bankruptcy Center
