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Questions

The following posts are questions submitted by National Bankruptcy Forum readers, or questions people who are considering filing bankruptcy often ask themselves. Bankruptcy can be a complicated process, so you shouldn’t feel ashamed if you don’t understand all of it. Maybe you need to know more about bankruptcy exemptions in your state, how to qualify for filing Chapter 7 bankruptcy, or how bankruptcy may affect your career. If you have questions about bankruptcy or would like a free debt evaluation, please reach out to us at National Bankruptcy Forum by filling out our online contact form or calling 877-280-4299.

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Should Filing Bankruptcy Be The Last Resort?

Is Bankruptcy Always a Last Resort? Although we’ve mentioned it time and again on the forum, it bears repeating: filing for bankruptcy is not a decision to be entered into lightly. In fact, it is important to get good information and carefully weigh your options. Having said that, delaying too long can cause unnecessary financial…

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Who Will Know I Filed Bankruptcy?

Worried Who Will Find Out About Your Bankruptcy? Do you worry about who will know that you decided to file bankruptcy? Even though bankruptcy doesn’t carry the same negative connotation it used to, some people still worry that their friends and coworkers will find out. The good news is, that except for a select few,…

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Are You Judgment Proof?

We all know why people are considering filing for bankruptcy. We have seen an unprecedented “black swan” type event in the coronavirus. Unemployment numbers are way up and many Americans face an uncertain financial future. Under these circumstances, bankruptcy is a natural consideration. Those thinking of filing bankruptcy, or even families facing mounting credit card…

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I’ve Found A New Job, Will I Still Be Able To File For Bankruptcy?

Does a regular paycheck disqualify a consumer from filing for chapter 7 bankruptcy? If you’ve been researching your bankruptcy options, you’ve likely heard of the means test. Indeed, much has been written about the means test, the vaunted gatekeeper to chapter 7 bankruptcy protection implemented by Congress as part of BAPCPA in 2005. Under that…

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Exemptions: What Can I Keep if I File Bankruptcy?

Many people mistakenly believe that they will lose everything when they file for Chapter 7 bankruptcy. In fact, in the thousands of bankruptcy cases I have filed for clients over the years, this is one of the biggest questions I get – “will I lose all my property in a bankruptcy?” This is not the…

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What is the Difference Between Surrendering a Home and Foreclosure?

What is the difference between surrendering a home in bankruptcy and losing a home to foreclosure? Many consumers are confused by the interplay between the two. When you file bankruptcy and surrender a home, you give the property back to the lender. When a lender forecloses on your home due to non-payment, they take the home…

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