Q: How do I file bankruptcy?
A: You must file a Chapter 7 or Chapter 13 bankruptcy petition with the bankruptcy court. In addition to the Chapter 7 or Chapter 13 bankruptcy petition, the debtor is also required to file with the court exhaustive forms, including several schedules of assets and liabilities, a schedule of current income and expenditures, a statement of financial affairs, and a schedule of executory contracts and unexpired leases. Bankruptcy Rule 1007(b).
Q: Do I have to list all debts and assets?
Q: Where does my case get filed?
A: Yes. It is a felony to fraudulently conceal an asset from the court or fail to list all debts. You can be fined up to $5,000 and the court can deny you your bankruptcy discharge.
A: Your case is filed in the District where you have resided or have your domicile (or for a business, its principal place of business) for the greater part of the 180 day period prior to the date your case is filed.
Q: Is it too late to file bankruptcy if I’m being sued or already have a judgment against me?
A: No. It's almost never too late to file bankruptcy. Assuming that it is a dischargeable debt you can still get rid of the debt even if a creditor has filed a lawsuit against you and gotten a judgment. You can even get rid of the debt if they have a lien against your property (although the lien will remain against the property unless you are able to remove it during the bankruptcy proceeding.
Q: When are my creditors notified I filed bankruptcy?
Q: What is a 341 Meeting of Creditors?
A: Approximately two weeks after you file your petition, the clerk's office will send a notice that you have filed for bankruptcy protection to all the creditors you have listed on your mailing matrix.
A: The meeting of creditors required by section 341 of the Bankruptcy Code at which the debtor is questioned under oath by creditors, a trustee, examiner, or the U.S. Trustee about his or her financial affairs. It is also called the creditor’s meeting and normally takes place about 30-45 days after your bankruptcy has been filed with the court.
Q: Does my spouse have to file bankruptcy?
Q: How often can I file for bankruptcy?
A: No, however the spouse that does not file joint bankruptcy will not receive the benefits of bankruptcy. In other words, if the non-filing spouse is jointly liable on certain debts, he or she will remain liable for those debts if the filing spouse filed for a Chapter 7 bankruptcy.
A: You cannot receive a discharge in a Chapter 7 case if you received a discharge in either (i) a Chapter 7 bankruptcy filed within the last 8 years, or (ii) a Chapter 13 bankruptcy filed within the last 6 years. You cannot obtain a discharge in a Chapter 13 case if you either (i) obtain a discharge in a Chapter 7 case filed within the past 4 years, or (ii) obtain a discharge from a Chapter 13 case filed within the last 2 years.