What happens when you file bankruptcy nowadays?

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 [...]

When filing bankruptcy in CA, is it OK to make big purchases?

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?
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What are the consequences of filing for bankruptcy?

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 [...]

What effects does bankruptcy have on someone for the rest of their life?

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 [...]