What is filing for bankruptcy?

Answer Filing for bankruptcy involves initiating a legal process that helps you eliminate or reduce your debt when you are no longer able to pay it. It is viewed as a last resort because it entails severa... Read More »

Top Q&A For: What is filing for bankruptcy

Can Filing Bankruptcy Prevent a Creditor From Filing a Mechanic's Lien?

A significant benefit of a bankruptcy filing is the automatic stay. The automatic stay is a court injunction that automatically prevents the filing of any liens and lawsuits once the bankruptcy cas... Read More »

What Are the Positives of Filing Bankruptcy?

Filing bankruptcy is a decision that should be arrived at after careful consideration of the pros and cons. Bankruptcy affects your credit for ten years after the fact and will most likely make you... Read More »

What is the procedure for filing bankruptcy?

Facing ever mounting and difficult to control debt, you may consider pursuing a bankruptcy. By filing bankruptcy, you obtain both immediate and long-term relief in regard to your debt. At the time ... Read More »

What cannot be included in filing bankruptcy?

Under United States federal bankruptcy law, citizens of all states have the legal right to petition for forgiveness of their debts if they cannot pay the bills as agreed. However, several types of ... Read More »