Bankruptcy Bliss

John Doe asked:


I filed over 2 and a half years ago and was discharged little over 2 years ago. My question is how long after I am discharged do I have the right to include someone in on my bankruptcy? Because 2 months after I was discharged one creditor that wasnt on my bankruptcy but I was deliquent at the time of the discharge is now reporting negative info to the credit companies.

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Christian asked:


I am on limited income (Social Security Disability) and am in debt due to the actions of a former “friend” of mine. I am considering filing for bankruptcy to get the creditors off my back, and to start over fresh after a certain period of time has gone by (not sure how long that is; I’ve heard 7 years.) I am a responsible person when it comes to paying my bills on time, and the only reason why I’m in debt right now, is because I had trust in the wrong person.
Can you please tell me what process is involved in filing for bankruptcy, if there are any costs (are people who are on limited income, exempt from any fees), and what some pros and cons there are in filing for bankruptcy. Please be as specific as you can. Thank you.

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Cheshire Smile asked:


I know that once you declare bankruptcy you can’t file again for another 7 years, but how does filing affect my overall credit rating? Do already paid off credit cards in my name remain valid or are those accounts closed?

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canionboyd asked:


My family, along with their company, is being sued for nearly $2M. We, along with the company, will have to file for bankruptcy. Does bankruptcy protect some of our cash to live on, and what assets do courts typically expect to be sold off to pay the lawsuit assuming all other debts are paid?

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