Some frequently asked bankruptcy questions are:


What is bankruptcy?

Bankruptcy is a way for people who are in over their head in debts to creditors to either repay the debt or eliminate it all together.



Which chapter should I file for?

Two common bankruptcy chapters are Chapter 7 and Chapter 13 Bankruptcy.  Chapter 7 washes the debt where Chapter 13 works out a plan to pay it back. Deciding which chapter is right for you is best left in the hands of an experienced legal professional.



How do I begin the bankruptcy process?

The best way is to write down and figure out all of your current debts and  who they are to. A statement of financial affairs is also necessary to begin the process.  Consulting a legal professional can provide answers to questions as well.



How long is bankruptcy kept on my financial record?

Bankruptcy’s are generally kept on financial record for 7 to 10 years.



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