eucalyptusrox asked:


How does one file Bankruptcy after job loss and stuck with a foreclosed home and repo’d automobile? Is this a long process and is it recommended? What are the key negative points if one chooses this route? Thank you!
Also, how likely is it that a broke jobless person will get sued and have wages garnished and bank accounts seized due to owing on a repo’d car?

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pshao01 asked:


What prevents a company from borrowing a ton of money, spending it all, declaring bankruptcy, and never paying back its creditors?

Details: say the CEO gets a huge “salary” (this is actually borrowed money), buys himself a bunch of toys, then declares bankruptcy and never repays the money. What is the punishment for said CEO?

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Why asked:


I hear it is very hard to file for the type of bankruptcy where they abolish all of your debt. However, what about the type of bankruptcy where you pay back some of your debt? If you file this type of bankruptcy, will you definitely get accepted, even if you make a high income? How much of your debt do they make you pay back and in what timeframe? How much does it cost to file for bankrutpcy nowadays? Do you have to pay a lawyer up front? Does a lawyer guarantee you will be accepted for filing bankruptcy? THANKS!

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beautiful bird asked:


My friend is planning on filing bankruptcy and she wanted to make big purchases using her credit card prior to filing. How safe is it? What are the contingencies?
please… objective responses only. thank you.

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ashd052406 asked:


I had to file a chapter 7 a few months ago. I am now looking to rent a home, will my bankruptcy effect me being able to do so?

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sixfiguredesi asked:


I may have to file bankruptcy and my credit application has an overstatement of assets. There was no fraud intended and I do have net assets of the amount stated. However, there is no date on the application. Can it be thrown out?

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sidney4 asked:


I am applying for a retail managment position and they sent my information to GIS services. I filed bankruptcy 12/1998. By law is GIS allowed to “fail” me in the background check? Is there a cut-off in years they go back?

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ashley. asked:


I recently found out that when I was about 5, my parents had to file for bankruptcy. My parents are now divorced. Since I am only 15, I don’t fully understand the concept of bankruptcy. What are the consequences of filing for bankruptcy? What are the benefits? And, What are the benefits of not filing for bankruptcy?

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Jason H asked:


Someone I know is filing for bankruptcy. I was wondering if there were any effects that bankruptcy would have on her as far as credit. Does bankruptcy go on any kind of personal record? I’m just wondering if she’ll always have to worry that filing bankruptcy will effect her credit permanently or any other issues throughout her life?

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jacksmom asked:


Not so sure if we’re actually going to have to file for bankruptcy or not, but my husband and I have talked about it before. I know vaguely what it is, and vaguely what it will do, but I’m not clear on all the details. Anyone care to enlighten me?

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