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Filing Personal Bankruptcy

Bankruptcy in the United States is divided up into chapters. Each chapter is designed to offer specific help and protections to individuals and entities in need of debt relief. For example, Chapter 11 is often used by businesses that need drastic reorganization. Chapter 9 is used by cities and municipalities.

For individuals and families, there are two main types of personal bankruptcy available:

Both of these chapters can offer strong protections against foreclosure, repossession and lawsuits. They both may eliminate a variety of debt while allowing you to keep most or all of your property, including homes and cars.

If you're ready to file personal bankruptcy, simply complete the free case evaluation form on this page and we'll connect you with a local bankruptcy attorney. You may also call, toll-free 24-hours a day, 877-349-1309 and we can connect you with a bankruptcy attorney you right away. 

Free Case Evaluation

Your personal bankruptcy lawyer can answer any questions you might have and take you through the bankruptcy process. Start working towards a fresh start through bankruptcy today.

Who Can File Personal Bankruptcy

There are few limits on who can file for personal bankruptcy. If you have filed for Chapter 7 bankruptcy in the last 10 years you may not be able to file Chapter 7 again - but Chapter 13 could be an option. There are some limits on how much debt you can claim in a filing, but those are so high that they don't affect the vast majority of people.

If you are single or divorced, then you may file bankruptcy for some or all of your debts.

If you are married, you have several filing options:

  • Joint filing: If you and your spouse have lots of common debt, such as a mortgage, car payment and credit card debt, you may file jointly. In some states, married couples filing jointly are allowed to keep more property exempt than if they filed alone. Also, by filing jointly you will only have to pay one filing fee, and you may save money on lawyer fees, too.
  • Single filer: If you are married, you do not have to file jointly. Sometimes only one spouse file if much of the debt is in his or her name. Filing separately may protect the other spouse from bankruptcy's affect on credit scores, and could leave the door open for the non-filing spouse to enter bankruptcy protection in the future.
  • Both file separately: While both husband and wife could file bankruptcy separately and at the same time, this course isn't typically recommended by bankruptcy lawyers. For one, you'll be paying twice the fees. Also, you may lose some of the protection benefits that are available in a joint filing.

Generally speaking, personal bankruptcy cases work in the same ways whether you're married, single or filing jointly. If you have questions about whether you should file jointly or separately, speak with a local personal bankruptcy attorney.

Chapter 13 bankruptcy can provide serious debt relief and protect your home from foreclosure. Speak with a bankruptcy lawyer today about how Chapter 13 can eliminate your debt.

What is Affected by Personal Bankruptcy

Personal bankruptcy may help you resolve debt relating to:

In rare cases, bankruptcy may also help you reform:

  • Tax debt
  • Student loans

As we mentioned earlier, there are two main types of personal bankruptcy: Chapter 7 and Chapter 13. Depending on your situation, one option may be better suited to your needs. Both types of bankruptcy may stop foreclosure, repossession, wage garnishment and lawsuits.

Types of personal bankruptcy:

Chapter 7 bankruptcy: This is best suited for people that have lots of unsecured debt - like credit cards, medical bills or personal loans - and little income. In order to file Chapter 7 you must meet certain requirements. But if you do qualify, then your unsecured debt may be completely discharged almost immediately. Chapter 7 bankruptcy also offers strong protections that prevent the foreclosure and repossession of your home, car and other types of property. These protections vary slightly from state to state, so speak with a local bankruptcy lawyer about which bankruptcy exemptions you qualify for.

Chapter 13 bankruptcy: This chapter might be a good fit if you own lots of property that you want to keep and have some regular income. In a Chapter 13 filing, all of your debts are ordered, secured and often reduced. Then, you will make one monthly payment to a bankruptcy trustee during a court-approved repayment period, typically 3-5 years. During this time you are protected from foreclosure, repossession and lawsuits. At the end of this repayment period, you will emerge with all of your debts settled and still in possession of your home and car.

Get Personal Bankruptcy Help with a Local Attorney

For more information on whether filing bankruptcy, and which type, is right for you, speak with a local bankruptcy attorney. To connect with a personal bankruptcy lawyer near you, complete the free form on this page or call, toll free, 877-349-1309. We can put you in touch with a local personal bankruptcy attorney.

Don't live with your debt any longer. Get started on financial freedom and a fresh start today.

Free Case Evaluation

Tap to Call - (877) 250-8242

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