Which bankruptcy is right for me?
The facts and circumstances of your own individual financial life often lead one bankruptcy to be more appealing than another. This is a question than you should discuss with a bankruptcy attorney if you plan on filing. Here are some general things to consider when filing for bankruptcy.
– Can I file a bankruptcy and receive a discharge?
– Will I lose any of my assets if I file Chapter 7?
– How fast can the case be filed?
– If I will lose assets in Chapter 7, am I ok with that?
– What is the range of the monthly Chapter 13 payment?
– Do I owe nondischaregable debts that need to be held off?
– Do I have debts like mortgage arrears, certain taxes, and unpaid spousal or child support that Chapter 13 resolve?
– How would my car and mortgage payments work in bankruptcy?
– Am I facing a foreclosure?
– Are my wages being garnished?
– How much equity do I have in my home?
– How long will bankruptcy go on for me?
– Have I given things away, paid any money, or sold items to friends or family recently?
– What happens after bankruptcy?
– How can I improve my credit score after bankruptcy?
I suggest writing down a list of questions to ask your attorney during the interview process. That way you can get all of your questions answered when considering to file.