What happens in a bankruptcy?

Answer Bankruptcy allows consumers facing financial problems an option for managing their debts. In some cases, debts may be discharged entirely. The bankruptcy process varies slightly depending on whethe... Read More »

Top Q&A For: What happens in a bankruptcy

What Happens to My Home in Bankruptcy?

Most likely you will be able to keep your home when you file for bankruptcy. Under a Chapter 13 bankruptcy, you will always keep your home as long as you make all the required payments under your C... Read More »

What Happens to Creditors in Bankruptcy?

The worst thing a creditor or lender can hear or find out is that the party that has its funds has filed for bankruptcy. It sends a chill through the spine of the creditor and more often than not, ... Read More »

What happens if I sue a company in bankruptcy?

A company that is in bankruptcy is either in the process of liquidating all of its assets and going out of business, or having its debt forgiven so the company can reorganize and start fresh. In e... Read More »

What Happens in Chapter 7 Bankruptcy?

If you've decided to file Chapter 7 bankruptcy, you're likely worried about a mounting number of unpaid credit card accounts and perhaps medical bills. Since 2005, the United States federal governm... Read More »