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2 Bumps

is there a timeline when to file for bankruptcy

lost job, lost home (foreclosure), credit damaged. Stay home mom for the meantime. Actively seeking work, credit is an issue.

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naturelover680

Asked by naturelover680 at 8:05 AM on Aug. 10, 2010 in Money & Work

Level 2 (4 Credits)
Answers (5)
  • No, bankruptcy is not timed. It is a time consuming process... you will need to find a lawyer, file the paperwork and wait for a court hearing and then the judge will decide if you can be discharged of your debt.
    WoodWitch

    Answer by WoodWitch at 8:09 AM on Aug. 10, 2010

  • I may not be right but i think you are required to go through credit counseling first now...atleast in some states anyways. you may want to talk to a lawyer.
    shay1130

    Answer by shay1130 at 8:09 AM on Aug. 10, 2010

  • credit counseling ...just shows that you atleast tried to repair your credit before jumping into bankruptcy
    shay1130

    Answer by shay1130 at 8:10 AM on Aug. 10, 2010

  • I really have no idea. I think it depends on your state.
    KamiB79

    Answer by KamiB79 at 8:24 AM on Aug. 10, 2010

  • Timed meaning can you file more than once? I am not really sure of your question. Did you lose your home already? Chapter 13 can at times save your home. I believe bankruptcy stays on your credit for 7 years.
    salexander

    Answer by salexander at 9:51 AM on Aug. 10, 2010

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