Bankruptcy Questions

Bankruptcy can take your house if you file for Chapter 7, but many people are able to keep homes in bankruptcy. Find out if you will lose your house if you file bankruptcy and what you must do to keep it in Chapter 7.

If you file for bankruptcy too soon after receiving a previous bankruptcy discharge, you won’t receive another one. Learn how often you can file for bankruptcy and eliminate qualifying debts.

If your car loan lender gets court permission, it can repossess your car during Chapter 7 bankruptcy. Find out how to avoid losing your car in Chapter 7 bankruptcy.

Federal law protects Social Security funds in bankruptcy.

Learn why being unemployed increases the ability to qualify for Chapter 7 bankruptcy but usually eliminates Chapter 13 as an option.

Learn how long it takes to get an FHA, VA, USDA, or conventional mortgage loan after Chapter 7 or Chapter 13 bankruptcy.

If you want to keep your home, you must continue to pay your mortgage while in Chapter 13 bankruptcy.

Find out how bankruptcy can get in the way of a lawsuit.

Although income limits exist in Chapter 7 bankruptcy, you can file for Chapter 7 bankruptcy if you make over 100k and have enough qualifying expenses. If not, your income won't limit you in Chapter 13 bankruptcy.

Find out whether Chapter 7 personal bankruptcy will wipe out your business debt.

In most situations, bankruptcy won't affect your current employment or getting a job unless you apply for a job in private industry that deals with money. Learn if you could lose a job if you file for Chapter 7 and how your employer might know if you filed for Chapter 13 bankruptcy.

Many people wonder whether they can file bankruptcy on tax debt. A bankruptcy case can be an effective tool to clear tax debts. It will stop the IRS from continuing collection actions like garnishments and prevent the IRS from placing tax liens. Also, bankruptcy can eliminate (discharge) some older taxes and give you a process for paying back what you can’t wipe out.

Determine whether you can eliminate your responsibility to pay a creditor's lawsuit judgment through bankruptcy, and what occurs if the creditor has a lien on any of your property.

Learn how to wipe out property settlement debt in a Chapter 13 bankruptcy.

Bankruptcy will wipe out your obligation to pay a charged-off car loan.

Deciding if bankruptcy is right for you? Here are answers to your most common questions.

Pros and cons of using bankruptcy versus dipping into your retirement savings to get rid of debt.

Learn how bankruptcy will impact your credit.

Get Chapter 7 bankruptcy questions answered in the Chapter 7 FAQ format. Bankruptcy matters addressed include qualifying for Chapter 7 bankruptcy, what happens to unsecured loans and unsecured debt in bankruptcy, and property in Chapter 7, including keeping a home.