Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

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.

Answer Question

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.

    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.

    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

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

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

    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.

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

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.