Bankruptcy Basics Videos
- Introduction Bankruptcy is a legal process that provides relief to many individuals who can no longer pay all of their debts.
- Types of Bankruptcy The three main types of bankruptcy cases for individuals are chapters 7, 11, and 13.
- Limits of Bankruptcy Some debts cannot be discharged in a bankruptcy.
- Filing for Bankruptcy In order to file for bankruptcy, an individual must take a credit counseling course and accurately complete and file a number of documents.
- Creditors' Meeting Every debtor is required to appear at a creditors' meeting conducted by a trustee who asks the debtor questions about the debtor's financial condition and gives creditors the opportunity to do the debtor questions about
- Bankruptcy Crime A debtor must be honest and accurate in dealing with the court or face serious consequences.
- Court Hearings In some cases, a debtor may be required to appear at hearings before a bankruptcy judge.
- The Discharge Debtors are usually able to discharge most or all of their debts. Once a debt is discharged, a creditor may not attempt to collect it from the debtor.
- Legal Assistance Debtors are strongly encouraged to find competent legal counsel. Even if you cannot afford to pay an attorney, you may be able to qualify for free or discounted legal services.