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| Bankruptcy Faq's | |
| Can I file bankruptcy without a lawyer? | |
| Yes, it is possible to file bankruptcy without a lawyer, though we strongly advise against filing without an attorney. Filing bankruptcy is an extremely complicated matter and you risk the dismissal of your petition by the courts if you make a mistake. | |
| Will I have to give up all my assets? | |
| No, as stated in the Bankruptcy Code, a debtor filing for bankruptcy is allowed to keep certain assets by exempting property from the bankruptcy estate. These exemptions are designed to allow the debtor a fresh start. | |
| Are there debts I can’t discharge? | |
| Yes, depending on the bankruptcy chapter you are filing, the type and scope of debts you can discharge varies. In chapter 7 debts as a result of fraud or dishonesty, unfilled and priority taxes, alimony, criminal fines and student loans can’t be discharged. Chapter 13 is different in that you can discharge certain debts to a former spouse that are non-support debts, as well as government fines. | |
| Will I lose my retirement savings? | |
| No, usually you are allowed to keep your retirement savings because they are not yet property of your estate, or because you can claim them exempt due to the 2005 amendments to the Bankruptcy Code. | |
