This is actually a trick question. Can anyone file for bankruptcy? Now legally, yes, any American citizen can apply for bankruptcy relief. In practice, whilst you can apply, there is no guarantee you will make it past the first phase. In fact, those going through the filing process without legal assistance rarely make it through [...]
A meeting of creditors is not as simple as it may sound. In most Chapter 7 and 13 bankruptcy petitions, a debtor is required to attend a meeting of creditors where they are questioned about their financial situation. This can be a rather intimidating experience – however, it needn’t be if you have an understanding [...]
A discharge in bankruptcy in simple terms is the termination of the bankruptcy process. When this occurs will depend on the type of bankruptcy and can be as short as four months for a Chapter 7 petition and as long as 4 or more years for other Chapters. Technically speaking, the debtor should be free [...]
