Do I have to go to Court regarding the bankruptcy filing?

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Yes. You are required to attend your 341 Meeting of the Creditors after the filing of either a Chapter 7 or Chapter 13 bankruptcy petition. The proceeding generally occurs about 30 to 45 days after your bankruptcy petition is filed with the court. The meeting is presided over by your bankruptcy trustee. It is the… Read more »

Can I get rid of my student loan debt in a bankruptcy?

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You may only get rid of student loan debt in a Chapter 7 bankruptcy, if you can demonstrate an “undue hardship” to the bankrupty court. Demonstrating undue hardship to the bankruptcy court, though not impossible, is very difficult to do. Although you may not discharge debt in a Chapter 7 bankruptcty unless you can show… Read more »

Can I keep any of my credit cards?

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No. All creditors are treated equally. Consequently, you cannot pick and choose which creditors you want to list in your bankruptcy. You must list all of your creditors.

What is a Chapter 13 bankruptcy plan?

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A Chapter 13 bankruptcy plan is an interest-free debt repayment plan through which you consolidate your debts, usually making a biweekly or monthly payment on your debt over a 3- to 5-year period. Debts that are often consolidated in a Chapter 13 bankruptcy include mortgage arrears and balances on car loans, student loans, credit card… Read more »

Who can file for a Chapter 13 bankruptcy?

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The main eligibility requirement is that you have a steady source of monthly income and that you have enough money that at least a certain percentage can go towards paying your debts as set out in your Chapter 13 bankruptcy plan.