Cherant asked:


I think the question says it all. And if you can, roughly include what you call the levels of bankruptcy, I heard level 7 is the highest. Thanks! Let’s hope we learn from this question!

photoguy1967 asked:


If you can do your own income taxes, then why can’t we fill out the paperwork for bankruptcy ourselves?

pshao01 asked:


What prevents a company from borrowing a ton of money, spending it all, declaring bankruptcy, and never paying back its creditors?

Details: say the CEO gets a huge “salary” (this is actually borrowed money), buys himself a bunch of toys, then declares bankruptcy and never repays the money. What is the punishment for said CEO?

chena827 asked:


I filed Bankruptcy and I paid off two things that were on my credit report but it was on my bankruptcy. What happens anything negative or positive out of that. Filed bankruptcy in 2006 of December.

suprstrchic79 asked:


My financial situation is such that I may need to file bankruptcy. I am starting a new job and as it is a small company I may need to get health insurance on my own instead of through the company and the employer will reimburse me for a portion. I am wondering how filing Chapter 7 Bankruptcy will affect this, if at all. Any assistance would be VERY helpful. Thank you!

nikki asked:


When someone files bankruptcy how do they live? Like, how does someone rent again? Is there a time period after you file and it goes through?

freewainwright asked:


I have around $35k in debt. The debt is all personal debt and there are no co-signers nor assets in question. As for my personal assets, I don’t believe I really have any. My car is eight years old and I live in an apartment. I was considering filing bankruptcy before I begin a new job and get better pay (therefore, they do not see a bigger paycheck and feel I can pay back my loans).

So, the question is, what bankruptcy should I do if there are no assets which can be liquidated to pay back my debtors?
Funny how many people jump down someone’s neck when they talk about bankruptcy. I guess Enron, K-Mart and others are fine, but regular humans are not? Get a life, people…

honestjoe asked:


My wife and I make enough money to afford an apartment or a modest house. However, both of our credit records are poor. So we were told to file bankruptcy. We just need to know how long we will have to wait to get an apartment, since they ALL require credit reports.

oremus_fratres asked:


I’m just asking for curiosity’s sake. My husband and I were disagreeing because I said that someone could buy a house a few years after declaring bankruptcy and he said that a person could essentially never buy a house again once they’ve declared bankruptcy, or at least not for 7 years. What is the correct answer?

ariel_okinawa asked:


In other words, my bankruptcy was discharged at the end of March, when will the credit report relect which accounts were thrown out in the bankruptcy?

Thanks!
DAS: I know that the items stay on the credit report, but they will have a note indicating that the were included in the bankruptcy so that any future creditors can see that the debt is not outstanding.