Bankruptcy Basics
Learn the basics about how bankruptcy works and how it can give you a fresh start by eliminating your debt.
Bankruptcy is a powerful tool that allows you to eliminate debts you have no hope of ever paying pay off. If you’re wondering whether bankruptcy is the right debt relief solution for you, you’ve come to the right place! Here you will learn what bankruptcy is, how it can help you get a fresh start, and what the process is like.
Looking to learn the basics about how bankruptcy can relieve your debt? This page is your home base for resources to help you get your fresh start.
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Can I File for Bankruptcy Online?
Written by Attorney Andrea Wimmer.
Updated May 21, 2024
Most bankruptcy courts don’t allow individuals who are filing bankruptcy without an attorney to file their bankruptcy forms online. However, filing your bankruptcy case with the court is only one of 10 steps to filing bankruptcy. Many of the other steps can be done online, like accessing the required bankruptcy forms, taking the two required credit counseling and financial education courses, and attending your 341 meeting of creditors (usually).
Read More →What Is Chapter 13 Bankruptcy?
Written by Attorney Andrea Wimmer.
Updated October 15, 2024
Chapter 13 bankruptcy can help provide debt relief for folks who make too much money to qualify for Chapter 7. At its core, it reorganizes your debt to allow you to pay back as much as you can handle over a 3–5-year payment plan. After you make all your plan payments and meet all the other requirements, the bankruptcy court will enter a discharge, which wipes out your remaining eligible debt.
Read More →What Is Bankruptcy?
Written by Attorney Andrea Wimmer.
Updated August 10, 2023
Bankruptcy is a legal tool to obtain debt relief and get a fresh start. Chapter 7 and Chapter 13 bankruptcy are the most common types. This article explores consumer bankruptcy basics, the different types of bankruptcy, and the bankruptcy process overall.
Read More →How Long Does Chapter 7 Bankruptcy Take?
Written by Attorney Andrea Wimmer.
Updated November 7, 2024
From filing to discharge (wiping out debts), Chapter 7 bankruptcy cases typically take 4–6 months. As far as personal bankruptcies go, Chapter 7 is the fastest. By comparison, Chapter 13 takes 3–5 years because a repayment plan is involved. If you file Chapter 7, the timeline for discharge will depend on how complicated your case is, what kind of debt you have, and how quickly you complete the requirements like the financial management course.
Read More →What Is the 341 Meeting of Creditors?
Written by the Upsolve Team. Legally reviewed by Lawyer John Coble
Updated November 4, 2024
The 341 meeting of creditors is a required meeting between a bankruptcy filer, the bankruptcy trustee, and sometimes creditors. It's an informal hearing often held virtually. Even when in person, it's not in a courtroom and no judge is present. The main purpose of the meeting is for the trustee to verify the bankruptcy filer's identity and the information in their bankruptcy forms. Creditors can also attend and ask questions, but this isn't common in Chapter 7 cases.
Read More →Every Type of Bankruptcy Explained
Written by Kristin Turner, Harvard Law Grad.
Updated August 8, 2023
There are six different types of bankruptcies. Chapter 7 and Chapter 13 are the most common types of personal bankruptcy. Chapter 7 is also called a liquidation. It allows the filer to get rid of most of their debts without repaying anything. It works best for individuals without assets like a home. Chapter 13 bankruptcy puts the filer on a repayment plan and can help protect assets like a home. The goal of personal bankruptcies like Chapter 7 and 13 is to give the filer a financial fresh start and relieve them of debt they may never be able to repay. Businesses, farmers, and municipalities can also file bankruptcy under Chapters 9, 11, 12, and 15. These less common types of bankruptcy may be used to restructure or reorganize debt.
Read More →Navigating Financial Aid During and After Bankruptcy: A Step-by-Step Guide
Written by Attorney Andrea Wimmer.
Updated August 22, 2023
Filing bankruptcy does not prevent you from getting federal student loans or other types of federal financial aid. So if you filed bankruptcy in the past or you’re currently in a bankruptcy case, you can still get federal student aid. Also, you can file bankruptcy on student loans, and the process for discharging federal student loan debt in bankruptcy got easier at the end of 2022.
Read More →How Often Can You File Bankruptcy?
Written by Attorney Andrea Wimmer.
Updated April 3, 2023
There is no limit to how many times you can file a bankruptcy case in your lifetime. The frequency of your filings depends on how long it's been since your last bankruptcy case as well as the type of bankruptcy you previously filed — Chapter 7, Chapter 11, and Chapter 13 bankruptcy are the most common types of consumer bankruptcies.
Read More →How Will Bankruptcy Affect My Credit?
Written by Attorney Andrea Wimmer.
Updated November 28, 2021
Filing bankruptcy does not ruin your credit forever! If you need debt relief but are worried about how a bankruptcy affects your credit rating, this article is for you.
Read More →What is Chapter 7 bankruptcy?
Written by Attorney Andrea Wimmer.
Updated August 7, 2020
Chapter 7 bankruptcy is a type of bankruptcy case that can be filed by individuals, married couples, and businesses. It’s the most common type of bankruptcy and provides the fastest form of debt relief. Continue reading to learn more about how Chapter 7 bankruptcy works and what everyone filing a Chapter 7 bankruptcy should know.
Read More →Should I File for Bankruptcy for Credit Card Debt?
Written by the Upsolve Team. Legally reviewed by Jonathan Petts
Updated November 7, 2024
If you're overwhelmed by credit card debt, filing for bankruptcy may be a way to erase it and get a fresh financial start. Many people consider options like credit counseling or debt management first, but bankruptcy can be a powerful solution when other methods aren't enough. This article will help you understand if bankruptcy is the right choice for dealing with your credit card debt.
Read More →Frequently Asked Questions About Bankruptcy and Tax Refunds
Written by Attorney Andrea Wimmer.
Updated October 30, 2020
It's pretty well-known that tax debts typically can't be discharged in bankruptcy. But what if you're getting a refund? This article answers some of the frequently asked questions about tax refunds and bankruptcy.
Read More →Chapter 7 Bankruptcy Forms Explained
Written by Attorney Andrea Wimmer.
Updated September 29, 2023
The Chapter 7 forms packet consists of a voluntary petition, schedules, and statements. The term “petition” is often used to describe the set of forms individuals filing for bankruptcy submit to the court. Here's a walk through of all of them.
Read More →What Is a Bankruptcy Trustee?
Written by Attorney Andrea Wimmer.
Updated November 13, 2021
The bankruptcy trustee doesn’t represent the filer and they don’t represent any specific creditor. They review the filer's forms and conduct the creditors' meeting.
Read More →What Is a Bankruptcy Trustee?
Written by Attorney Andrea Wimmer.
Updated November 13, 2021
The bankruptcy trustee doesn’t represent the filer and they don’t represent any specific creditor. They review the filer's forms and conduct the creditors' meeting.
Read More →Bankruptcy Credit Counseling & Financial Management Courses
Written by Attorney Andrea Wimmer.
Updated January 5, 2021
If you’re filing bankruptcy to wipe away your debt you’ll need to take two educational courses. A credit counseling course before filing your case and a financial management course after filing.
Read More →What Is the Chapter 7 Bankruptcy Timeline?
Written by Kristin Turner, Harvard Law Grad. Legally reviewed by Attorney Andrea Wimmer
Updated September 29, 2023
Filing for Chapter 7 bankruptcy can be an intimidating and daunting process. Especially if it's not something you've ever dealt with before, you may not know where to begin or how it ends. Here is an overview of what to expect as you prepare for your Chapter 7 bankruptcy and what happens after your case has been filed with the bankruptcy court.
Read More →How Long Does Chapter 13 Bankruptcy Take?
Written by Attorney Jenni Klock Morel.
Updated August 8, 2023
Chapter 13 bankruptcy typically takes three to five years. During that time, you’ll be on a repayment plan to repay some or a portion of your debts. There are a few factors that will determine how long your Chapter 13 repayment plan will last, including your income. At the end of a successful Chapter 13 plan, the remainder of your dischargeable debts will be erased.
Read More →What Can Go Wrong at the Meeting of Creditors?
Written by Attorney Jenni Klock Morel.
Updated May 25, 2022
Not much can truly go wrong at the meeting of creditors. To avoid any potential issues, make sure to bring approved documents to prove your identity and Social Security number, read the Bankruptcy Information Sheet, and review your bankruptcy petition so you can answer any questions the trustee may have about your case. If someone from the U.S. Trustee's office or a creditor's attorney shows up to ask questions, try to stay calm and just answer their questions truthfully.
Read More →How to tell if you have property that is not protected by an exemption
Written by Attorney Andrea Wimmer.
Updated August 10, 2020
Schedule A/B lists everything you own. Schedule C lists all everything you own that is protected by an exemption. Here is how you can tell what’s protected by an exemption by looking at your Schedule C, complete with an example to illustrate what it means when something is only partially exempt.
Read More →Federal Bankruptcy Exemptions Explained
Written by Attorney Andrea Wimmer.
Updated March 31, 2022
The laws that protect your property from creditors are called exemptions. The exemptions listed in the Bankruptcy Code are called federal bankruptcy exemptions.
Read More →What Is a Reaffirmation Agreement and How Do You Use One?
Written by Attorney Jenni Klock Morel.
Updated September 29, 2023
People who file bankruptcy are often concerned about what's going to happen to their car. Signing a reaffirmation agreement is one option that lets you keep your car and continue making the payments, but it's not the only option and might not be the best option in your situation. Read on to learn about how reaffirmations work and factors to consider when deciding whether to sign a reaffirmation agreement.
Read More →5 Important Bankruptcy Questions (and Answers!)
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated June 6, 2023
If you’re thinking about filing bankruptcy, you have questions. We’ll answer the most common bankruptcy questions for you right here so you can decide whether you want to take the next step in the bankruptcy process or explore other debt-relief options that might interest you.
Read More →What are the Florida Bankruptcy Exemptions?
Written by Kristin Turner, Harvard Law Grad.
Updated November 6, 2021
If you're a debtor filing for bankruptcy and you live in Florida, you'll be using the Florida bankruptcy exemptions to protect your property.
Read More →Chapter 7 vs. Chapter 11 Bankruptcy
Written by Jonathan Petts.
Updated July 20, 2023
Chapter 11 bankruptcy can be quite similar to Chapter 7 bankruptcy. But it's also really different. Learn how each type of bankruptcy can provide you with debt relief.
Read More →What Are the Chapter 7 Bankruptcy Rules?
Written by Attorney Andrea Wimmer.
Updated July 26, 2023
The Chapter 7 bankruptcy rules are not as difficult to understand as you might believe, but there’s quite a few of them. Keep reading to get a basic understanding of the Chapter 7 bankruptcy rules and ensure a successful Chapter 7 bankruptcy filing.
Read More →What To Do If You Don’t Remember Everyone You Owe Money?
Written by Jonathan Petts.
Updated November 21, 2020
If you're overwhelmed by debt collectors and collection agencies calling you to collect a debt, it can seem as though you'll never be able to remember who they all are. But, it's important to give the bankruptcy court a list of all of your creditors, so here are some steps you can take to make sure you didn't miss anyone.
Read More →How Much Does It Cost To File Bankruptcy?
Written by Attorney Jenni Klock Morel. Legally reviewed by Attorney Andrea Wimmer
Updated October 24, 2024
It can cost as little as $400 to file for bankruptcy or up to as much as $3,000 or more if you hire a bankruptcy lawyer. Bankruptcy costs include court filing fees, credit counseling course fees, and attorney fees if you hire a bankruptcy lawyer. The total cost will largely depend on your financial situation, the complexity of your case, and whether you file Chapter 7 or Chapter 13 bankruptcy.
Read More →4 things you should know about the bankruptcy court system
Written by Attorney Jamie Lee Ruiz.
Updated August 9, 2020
The bankruptcy court oversees bankruptcy cases filed in the United States. The court maintains the records for all bankruptcy cases.
Read More →Low Cost Bankruptcy: Do Good Options Exist?
Written by Jonathan Petts.
Updated November 30, 2020
Filing for bankruptcy can get expensive. Apart from finding an affordable bankruptcy attorney, there are ways to file at low cost.
Read More →Requirements for Chapter 7 Bankruptcy
Written by Attorney Andrea Wimmer.
Updated August 11, 2023
Deciding to file Chapter 7 bankruptcy should involve a review of everything that is required to successfully get a bankruptcy discharge after the bankruptcy filing. What follows is an overview of the requirements to file Chapter 7 bankruptcy and the requirements to getting your Chapter 7 discharge.
Read More →Low Income Bankruptcy: Find the Option for You
Written by Kristin Turner, Harvard Law Grad.
Updated October 14, 2020
There are special options available to low-income people filing for bankruptcy. Find out if one is right for you.
Read More →Should I be Embarrassed About Filing for Bankruptcy?
Written by Kristin Turner, Harvard Law Grad. Legally reviewed by Attorney Andrea Wimmer
Updated November 30, 2020
Should I be embarrassed by a Chapter 7 bankruptcy filing? We'll let you know how you should think about your discharge of your debts.
Read More →How Do I Find an Affordable Bankruptcy Attorney?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 20, 2024
While you don’t have to hire a lawyer to file a bankruptcy case, you may want legal assistance. If so, there are several resources you can use to find an affordable bankruptcy attorney, including your state bar association’s website, the National Association of Consumer Bankruptcy Attorneys, or a local legal aid organization. Many bankruptcy lawyers also offer a free consultation for prospective clients. You can get free legal advice during the consultation and learn more about the lawyer’s fees and options for paying them.
Read More →Do I Qualify for Bankruptcy?
Written by Kristin Turner, Harvard Law Grad.
Updated August 8, 2023
Do you qualify for bankruptcy? There are a lot of things to consider, and we try to break it down for you. At Upsolve, we provide free Chapter 7 bankruptcy services for those in need of a fresh start.
Read More →Bankruptcy Filings in America - 2017
Written by Jonathan Petts.
Updated July 22, 2020
Bankruptcy Filings in America continue to be an effective way for many people to obtain debt relief. Congress enacted the to allow Americans to file for bankruptcy relief. help people who have suffered a financial crisis that they cannot overcome without assistance. Upsolve helps individuals file bankruptcy cases to resolve their debt problems. You can file a bankruptcy case to obtain the debt relief you need.
Read More →What Is an Automatic Stay In Bankruptcy?
Written by the Upsolve Team. Legally reviewed by Jonathan Petts
Updated October 23, 2024
An automatic stay is a powerful protection that kicks in as soon as you file for bankruptcy. It stops most creditors from trying to collect debts. This means they can't call you, send letters, garnish your wages, or start or continue lawsuits against you. The protection lasts until your Chapter 7 bankruptcy case ends or the court lifts the stay.
Read More →Will Chapter 7 Bankruptcy Lower My Credit Score?
Written by Jonathan Petts.
Updated August 1, 2023
Most people who have low credit scores and file for bankruptcy actually see their credit scores improve.
Read More →What is bankruptcy fraud?
Written by Attorney Kassandra Kuehl. Legally reviewed by Attorney Andrea Wimmer
Updated December 18, 2020
Bankruptcy fraud is a broad term that describes a variety of actions that filers sometimes take to get an unfair advantage. Depending on what form that fraud takes, it’s considered a crime and is punishable by up to 5 years in federal prison and a (non-dischargeable) fine of up to $250,000. This article will explore some common types of bankruptcy fraud.
Read More →Will Filing for Bankruptcy Stop a Levy?
Written by Jonathan Petts.
Updated June 30, 2023
Filing bankruptcy can stop a bank levy. When you file bankruptcy, you get the protection of the automatic stay. Under the automatic stay, creditors can't try to collect from you in any way, including a bank levy. Other ways to stop a bank levy include: - Paying the debt (if possible - Negotiating a payment agreement with the creditor - Alleging that the credit made a legal error in the process to obtain permission to levy your account - Alleging that the statute of limitations to collect the debt has expired - Alleging that the funds in the account are protected from levy
Read More →Should I File Bankruptcy Before Getting Married?
Written by Attorney Andrea Wimmer.
Updated March 9, 2022
If you’re planning to get married and you also need to deal with debt, you’re probably wondering when to file bankruptcy and how it will affect your spouse. There are pros and cons to filing for bankruptcy before marriage as well as filing after marriage. If you want to start your marriage with a clean financial slate and you qualify for Chapter 7, that’s a relatively quick way to achieve that goal. If you already have joint debts with your spouse-to-be, you may want to file after you get married to take advantage of more generous exemptions.
Read More →Can You Keep Your Checking Account During Chapter 7 Bankruptcy?
Written by the Upsolve Team. Legally reviewed by Jonathan Petts
Updated October 30, 2024
Most people who file Chapter 7 bankruptcy can keep their checking account if the money in it is protected by exemptions. This means your account balance is safe, as long as it doesn’t exceed the amount you’re allowed to protect under bankruptcy law.
Read More →What is an Emergency Bankruptcy Filing?
Written by Attorney Paige Hooper.
Updated July 12, 2023
An emergency bankruptcy filing is when you file only the minimum required forms to get a bankruptcy case going. It helps you file your case quickly. Emergency filings are helpful if you need to stop serious collection measures like repossession, foreclosure, or wage garnishment. Once you file an emergency bankruptcy case, you need to complete the remaining paperwork within 14 days or you risk having your case dismissed.
Read More →Can I File for Bankruptcy After a Lawsuit?
Written by Jonathan Petts.
Updated July 27, 2023
Absolutely. Whether you’ve just been served with a lawsuit or already had a judgment entered against you, filing for bankruptcy protection can bring relief.
Read More →How Do I Add a Creditor After I've Filed My Forms?
Written by Attorney Andrea Wimmer.
Updated March 25, 2024
What follows is a step by step guide on how to add a creditor after filing bankruptcy. The process for this is often very specific and differs from district to district, but there are some things that are the same across the board. If you're an Upsolve user, you can use the case editor and the self-service amendment feature to update your forms.
Read More →What does it mean to surrender your car in bankruptcy?
Written by Attorney Andrea Wimmer.
Updated September 8, 2020
If you surrender your car as part of a Chapter 7 bankruptcy, your car debt is erased by the bankruptcy discharge.
Read More →Should I Choose Federal or State Bankruptcy Exemptions?
Written by Kristin Turner, Harvard Law Grad.
Updated April 19, 2022
The exemptions you choose will play a big role in determining how much of your stuff the trustee can sell to repay your creditors. Most Upsolve users select the federal exemptions, but the choice that's right for you will depend on your answers to two questions.
Read More →What is an "Official Form 309A -- No Proof of Claim?"
Written by Kristin Turner, Harvard Law Grad.
Updated August 7, 2020
The court sends this document to the creditors you listed on your bankruptcy paperwork when you file. It gives each creditor important information about your case and tells them what they need to do if they have a reasonable objection to your bankruptcy.
Read More →What Happens to the Automatic Stay if My Bankruptcy Case Is Dismissed?
Written by Curtis Lee, JD.
Updated July 27, 2023
If your bankruptcy case gets dismissed, your debts won’t be discharged and the automatic stay goes away. Without the protection of the automatic stay, debt collectors and creditors can resume collection activities. If your case is dismissed, you can file a new case or file a motion to reinstate your previous case. If this happens, there may be limits to the automatic stay.
Read More →How do I file my bankruptcy forms by mail?
Written by Jonathan Petts.
Updated July 22, 2020
We recommend bringing your bankruptcy forms to your local bankruptcy court to file in person. If you can't do that, you can mail the forms.
Read More →If I surrender my vehicle, will I be responsible for any balance owed?
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
No. Even if the car is sold for much less than what you owe on the loan, your personal liability to pay the loan is discharged.
Read More →I might be moving to a new state. Should I wait to file until after I move?
Written by Jonathan Petts.
Updated July 22, 2020
If you plan to move out of state within the next three months, it is usually better to wait to file unless your 341 meeting would occur before your move.
Read More →What do I list as my address if I lived overseas 3 years ago?
Written by Kristin Turner, Harvard Law Grad.
Updated July 22, 2020
Questions about your addresses on your bankruptcy forms are used to determine one of two things: 1. Which state you are eligible to file bankruptcy in and 2. Which state's exemptions you can use to protect your assets.
Read More →Why doesn't my car appear on my exemptions list?
Written by Kristin Turner, Harvard Law Grad.
Updated July 22, 2020
There are a few reasons that your car(s) might not be listed on your exemptions list.
Read More →What is an asset in bankruptcy?
Written by Attorney Andrea Wimmer.
Updated October 16, 2020
Everything you own is an asset. Whether your property is valuable enough to turn your case into an asset bankruptcy depends on what bankruptcy exemptions you can use to protect your property.
Read More →If I file for bankruptcy, will it hurt my co-signer’s credit score?
Written by Kristin Turner, Harvard Law Grad. Legally reviewed by Attorney Andrea Wimmer
Updated October 30, 2021
No. A co-signer’s social security number will not be involved, and the bankruptcy does not go on their credit.
Read More →How can I surrender my car in Chapter 7 bankruptcy?
Written by Kristin Turner, Harvard Law Grad. Legally reviewed by Attorney Andrea Wimmer
Updated April 12, 2022
"Surrendering" your car means that you give it back to the lender that gave you the loan to purchase it. If you surrender your car as part of your Chapter 7 bankruptcy, any debt that you owe on it will be eliminated when you receive your bankruptcy discharge.
Read More →I want to redeem my car. When do I do it?
Written by Kristin Turner, Harvard Law Grad.
Updated July 22, 2020
"Redeeming" your car means that you buy it from the lender that you financed it with for the fair market value of the car, paid to the lender in one lump sum. The rest of your loan is discharged.
Read More →What Is Community Debt?
Written by Kristin Turner, Harvard Law Grad.
Updated July 2, 2022
Community debt is any debt that you or your spouse incur while married or any debt for which you and your spouse are co-signers. There are 10 community property states where spouses or legal partners may have community debt. This article outlines the 10 community property states and how having community debt may affect your bankruptcy filing.
Read More →I'm on SSI. How much does bankruptcy cost?
Written by Jonathan Petts.
Updated July 22, 2020
If the only income you get each month is from SSI, bankruptcy is 100% free for you to file. Upsolve is totally free for you to use, and the court does not charge you any money for the filing fee.
Read More →Can I Keep the Money if I Win a Lawsuit After Filing?
Written by Kristin Turner, Harvard Law Grad.
Updated January 26, 2022
If you file for Chapter 7 bankruptcy, your state's exemption law will determine whether you can keep the money from a lawsuit. Be prepared to give it up unless your state exemption law specifically says that you can keep the award.
Read More →How Much Money Is Considered a Gift?
Written by Kristin Turner, Harvard Law Grad.
Updated January 26, 2022
The bankruptcy forms ask whether you gave gifts with a total value of more than $600 per person in the two years before you filed for bankruptcy.
Read More →If a Creditor Was Charged Off, Do I Still Need To List Them?
Written by Kristin Turner, Harvard Law Grad.
Updated April 19, 2022
Just because a creditor has charged off a debt doesn't mean that you don’t owe it anymore. That's why you'll still need to list the creditor on your bankruptcy forms. Having a debt charged off only means that the creditor has decided the debt is uncollectible for accounting purposes.
Read More →Should I use a law firm or file for myself?
Written by Kristin Turner, Harvard Law Grad.
Updated July 22, 2020
This is up to you to decide. If you can afford $1000+ for an attorney, they are often a good investment. If you cannot, our team at Upsolve would love to guide you through your filing at every step of the way.
Read More →I receive money from social security. Can I file for bankruptcy?
Written by Kristin Turner, Harvard Law Grad.
Updated July 22, 2020
Definitely. Getting money from social security does not disqualify you from filing for bankruptcy with Upsolve. You should take our online screener to see if you meet our either criteria.
Read More →What is some research on the benefits of bankruptcy?
Written by Jonathan Petts.
Updated August 10, 2020
If you’re interested in the research around how bankruptcy helps low-income Americans, here are seven articles you should reach. The articles discuss how bankruptcy improves credit scores, employment outcomes, and future earnings. They also mention how bankruptcy stops wage garnishment and serves as a lifeline for people trapped in a cycle of poverty.
Read More →What if I'm afraid to file for bankruptcy?
Written by Jonathan Petts.
Updated July 22, 2020
Many people in the United States are afraid to file for bankruptcy because they do not understand that most people who file are financially better off in the long run. After filing, most people see their debt erased and their credit scores improved. If their wages are garnished due to judgments, bankruptcy stops wage garnishment. Bankruptcy also improves employment outcomes.
Read More →Can I File For Bankruptcy After Moving To A New State?
Written by Attorney Andrea Wimmer.
Updated August 1, 2023
Yes, you can file bankruptcy after moving, but it may get a little more complicated. If you're moving to a new state, or have recently moved, you’ll need to know which bankruptcy property exemptions now apply to you. In this article, we will discuss the timing issues and other factors that may accompany a recent relocation.
Read More →How To Deal With the Stress of Bankruptcy
Written by Jonathan Petts.
Updated November 15, 2023
The stress leading up to bankruptcy can often be overwhelming and difficult to mange. Many people struggle with the emotional toll of being in a lot of debt. Luckily, you’re not alone and bankruptcy is a great way to get relief after difficult times.
Read More →I’m a 1099 Contractor. How is My Bankruptcy Different?
Written by Attorney Eva Bacevice.
Updated August 7, 2020
Much of the bankruptcy process is the same for people who are a full-time employee and people who are contractors. However, there are a few differences. When your income is not regular or easily predicted, you must demonstrate that you are eligible to file and ensure that it makes sense to file when you do.
Read More →What To Do If A Creditor Violates The Automatic Stay
Written by Attorney Andrea Wimmer.
Updated September 3, 2020
The automatic stay goes into effect as soon as your bankruptcy petition has been filed with the court and a case-number assigned to your case. The automatic stay prohibits creditors from trying to collect a debt from you. Creditors and their attorneys know that the bankruptcy court can order them to pay sanctions to the bankruptcy filer if they violate the automatic stay.
Read More →Why Is the Trustee Asking Creditors To File a Proof of Claim?
Written by Curtis Lee, JD.
Updated August 8, 2023
If your bankruptcy trustee is asking your creditors to file a proof of claim, it’s likely because the trustee discovered non-exempt assets in your case. Most Chapter 7 bankruptcy cases are no-asset cases. But if you have non-exempt property or assets, the trustee can liquidate or sell them. The funds from the sale are then used to repay your creditors at least part of what you owe. If a creditor wants to recover money through the liquidation process, they have to file paperwork called a proof of claim.
Read More →I am planning to get married soon after I file. Will my bankruptcy affect my spouse?
Written by Kristin Turner, Harvard Law Grad.
Updated July 22, 2020
Usually your individual bankruptcy will not affect your new spouse. If you are filing for a Chapter 7, is can be helpful to wait until after you receive your discharge to get married just in case.
Read More →Car Co-Owner vs. Co-Signer: What’s the difference?
Written by Attorney Andrea Wimmer.
Updated October 30, 2021
A co-signer on a car loan is obligated to pay the loan if the other person defaults on their payment obligation while a co-owner of a car has an ownership interest in the vehicle itself. This article explains how to properly disclose these relationships in your bankruptcy forms.
Read More →My case was dismissed. When can I refile a new case or reopen my case?
Written by Kristin Turner, Harvard Law Grad.
Updated December 30, 2020
As soon as a bankruptcy case is dismissed, the automatic stay ends and collections can resume. You can either reinstate your case or file a new bankruptcy one.
Read More →If I received a discharge, when can I refile?
Written by Kristin Turner, Harvard Law Grad.
Updated July 30, 2020
If your bankruptcy was fully discharged, you can refile bankruptcy after a certain amount of time has passed. If you file before the time limit is up, you will not be entitled to have your debts discharged.
Read More →Is a bankruptcy discharge public record?
Written by Kristin Turner, Harvard Law Grad.
Updated October 2, 2021
There are a few, limited ways that your bankruptcy becomes public record.This alone shouldn't stop you from choosing to file for bankruptcy.
Read More →Does Bankruptcy Affect My Social Security Income?
Written by Attorney Paige Hooper.
Updated July 26, 2023
Many people who receive Social Security benefits live on fixed or limited incomes. As a result, they may need to borrow money when faced with unexpected expenses. Repaying that money on a tight budget can be challenging, and debt can pile up quickly. Bankruptcy is one possible way to relieve that debt burden. Fortunately, in most cases, filing bankruptcy won’t affect your Social Security benefits. In bankruptcy, some Social Security benefits are treated as income, while others are treated as assets. This article covers which benefits are considered income and how that income can affect your bankruptcy. It also covers which benefits are considered assets and how you can protect them.
Read More →Will Bankruptcy Affect My Citizenship Application?
Written by Your Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated February 24, 2022
Whether you’re a U.S. citizen or not, you’re allowed to file bankruptcy if you reside in the U.S. Bankruptcy law doesn’t require filers to be U.S. citizens. If you aren’t a citizen, you may worry that filing bankruptcy can lead to deportation or having your immigration application denied. Luckily, that’s not the case. Neither the U.S. Citizenship and Immigration Services (USCIS) nor the Department of Homeland Security (DHS) consider bankruptcy cases when reviewing residency applications.
Read More →How to File Bankruptcy Without a Lawyer?
Written by Attorney Eva Bacevice.
Updated July 27, 2023
There's nothing that says you have to hire a lawyer to get bankruptcy relief. You can file bankruptcy without a lawyer either by yourself or with the help of a legal aid organization.
Read More →Will My Employer Find Out About My Bankruptcy?
Written by Attorney Eva Bacevice.
Updated July 26, 2023
Your employer will most likely not find out about your bankruptcy case when you file.
Read More →Can I File a Chapter 13 Bankruptcy if I'm Unemployed?
Written by Attorney Tina Tran.
Updated August 8, 2023
Chapter 13 bankruptcy requires filers to make a monthly payment on a court-approved 3-5 year repayment plan. You don't have to be employed to file a Chapter 13 bankruptcy, but you do have to show you're capable of making those monthly payments to your trustee. For most people, this requires regular income.
Read More →Bankruptcy Case Dismissals & How To Avoid Them
Written by Attorney Andrea Wimmer.
Updated July 28, 2023
Many worry that their case won’t be accepted if they file bankruptcy without the help of a bankruptcy lawyer. Even though it’s scary to think that this may happen, it doesn’t really work that way. You are allowed to file bankruptcy without a lawyer. And, as long as you follow the bankruptcy court’s instructions and complete all required steps, the risk of having your case dismissed is actually pretty low.
Read More →Can You File Chapter 13 Bankruptcy Online Yourself?
Written by Curtis Lee, JD.
Updated July 20, 2023
Though there are online services that claim they can help you file a Chapter 13 bankruptcy by yourself, the success rate for people who file Chapter 13 without a lawyer is low. That’s because Chapter 13 cases include multiple types of debts and a repayment plan that can last from three to five years. It's not uncommon for filers to experience issues or changes while their Chapter 13 bankruptcy case is open, and it can be difficult to deal with those without legal help.
Read More →Does Bankruptcy Affect My Disability Benefits?
Written by Attorney Andrea Wimmer.
Updated August 15, 2023
Find out whether you can keep your social security disability benefits during your Chapter 7 bankruptcy.
Read More →I got my Chapter 7 discharge! Now what?
Written by Attorney Eva Bacevice.
Updated August 10, 2023
Monitor your credit report, stick to a budget, live within your means, rebuild your credit and live your life with a fresh start!
Read More →Can I Leave Debts Out of My Bankruptcy?
Written by Attorney Paige Hooper.
Updated August 8, 2023
You need to list all your assets and debts when you file your bankruptcy. Leaving debts out of your bankruptcy filing will mess up your income and expense calculations. It can also be grounds for criminal charges for bankruptcy fraud.
Read More →Creditor Calling After You File Bankruptcy? Do This.
Written by Attorney Andrea Wimmer.
Updated December 1, 2023
Creditors and debt collector aren't allowed to contact you after you file your bankruptcy case with the court. If a creditor contacts you anyway, it's usually by mistake. Answer the phone, tell them about your pending bankruptcy, and request that they stop calling. If they continue to contact you, let the court know right away, so they can put an end to it immediately and, if appropriate, punish the creditor for their conduct.
Read More →What Is a Bankruptcy Discharge?
Written by Attorney Andrea Wimmer.
Updated September 29, 2023
A discharge order that tells your creditors they are forever prohibited from asking you to pay your pre-bankruptcy debts ever again.
Read More →How Does Bankruptcy Affect a Car Lease?
Written by Attorney Paige Hooper.
Updated July 20, 2023
A car lease isn’t the same as a car loan. A lease is a contract to use a car for a period of time. It’s not considered a debt when you file bankruptcy. If you have a car lease and file Chapter 7, you can continue with the lease if your payments are current. Otherwise, you can give the car back and walk away from the lease. If you file Chapter 13, you’ll have more options for keeping the car, which we’ll explore in this article.
Read More →Can I fire my bankruptcy lawyer?
Written by Attorney Eva Bacevice.
Updated October 20, 2020
In this article we will explore what you should consider to make an informed decision about whether and when to find a new bankruptcy lawyer.
Read More →What Is Equity?
Written by the Upsolve Team. Legally reviewed by Attorney Paige Hooper
Updated October 13, 2022
Your equity in a house or car (the dollar value that belongs to you, not the lender) is the current value of the property minus the amount you still owe on it. When you file bankruptcy, exemptions protect the equity you have in certain assets.
Read More →Filing for Bankruptcy
Written by the Upsolve Team.
Updated January 23, 2024
Although filing for bankruptcy can be a difficult decision to make, it is also a solution that will release you from crippling debt. Learn everything you need to know here before you get started.
Read More →Who Pays for Bankruptcies?
Written by the Upsolve Team.
Updated January 23, 2024
When individuals find themselves in debt, bankruptcy can be a solution that gives you a fresh start. But when someone files for bankruptcy, who pays for it? Learn more here.
Read More →What Does It Mean That a Bankruptcy Is Public Record?
Written by Lawyer John Coble, Your Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated March 21, 2022
Bankruptcy cases are processed through the U.S. Bankruptcy Court, which is part of the federal court system. Like all other court documents, your bankruptcy petition becomes a public record. This means any member of the public can access the information on your bankruptcy forms either through PACER or by going to the courthouse.
Read More →What Happens If I Declare Bankruptcy?
Written by Attorney Andrea Wimmer.
Updated February 3, 2022
Overview of what to expect after declaring bankruptcy, including types of bankruptcy, the immediate debt relief benefits of filing bankruptcy, and important information about the Chapter 7 bankruptcy process.
Read More →Does The Government Pay for Bankruptcies?
Written by Your Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated March 30, 2022
People filing for bankruptcy are struggling to pay their debts. Find out what type of costs to expect for Chapter 7 bankruptcy and who pays for it if you can’t.
Read More →Verification of Creditor Matrix Explained
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
Learn about the verification of creditor matrix.
Read More →How To Get a Fee Waiver for Free Bankruptcy Credit Counseling
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 20, 2024
Everyone who wants to file for bankruptcy has to take a credit counseling course before they can do so. While there is a small cost associated with this requirement, it is possible to take the required course for free by requesting a fee waiver.
Read More →What Does a Bankruptcy Discharge Do?
Written by the Upsolve Team. Legally reviewed by Attorney Paige Hooper
Updated August 9, 2023
A bankruptcy discharge is a court order that wipes out certain debts like credit card debts and medical bills. Once you receive a discharge, you're no longer legally obligated to repay the debts that were discharged. Some debts, like those that are secured by collateral, can only be discharged if you give up the collateral. In Chapter 7 cases, dischargeable debts will be eliminated in a matter of months. In Chapter 13 cases, the filers must complete their 3-5 year payment plan before their dischargeable debts are eliminated.
Read More →Tips for Choosing a Bankruptcy Attorney
Written by Attorney Andrea Wimmer.
Updated August 20, 2024
In this article, we'll explore whether you need an attorney to file bankruptcy, how you can make sure you hire the bankruptcy attorney that is right for you, and what kind of resources are available to find a bankruptcy lawyer near you. Learn how to choose the right bankrutpcy lawyer for your situation based on what matters most!
Read More →Can I File Bankruptcy Even Though I’m Unemployed?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 8, 2023
If you’re unemployed and your only source of income is unemployment benefits, you can still file Chapter 7 bankruptcy. To file Chapter 13 bankruptcy, you need a steady source of income, and unemployment benefits aren’t likely enough to cover the requirements for Chapter 13. While it’s possible and common for people to file Chapter 7 while unemployed, you’ll want to consider the timing of your case.
Read More →What Is a Co-Debtor and How Does My Bankruptcy Affect Them?
Written by the Upsolve Team.
Updated June 30, 2022
A co-debtor is someone who took out a loan with you. In doing so, they agreed to be equally responsible for repaying the loan or debt. If you have debts with co-debtors and you don't reaffirm the debt in a Chapter 7 case, your co-debtor will be solely responsible for repaying the debt if you get a bankruptcy discharge. If you file Chapter 13 bankruptcy, the automatic stay will protect both you and the co-debtor so long as you make the payments outlined in your repayment plan.
Read More →What Is a Co-Debtor and How Does My Bankruptcy Affect Them?
Written by the Upsolve Team.
Updated June 30, 2022
A co-debtor is someone who took out a loan with you. In doing so, they agreed to be equally responsible for repaying the loan or debt. If you have debts with co-debtors and you don't reaffirm the debt in a Chapter 7 case, your co-debtor will be solely responsible for repaying the debt if you get a bankruptcy discharge. If you file Chapter 13 bankruptcy, the automatic stay will protect both you and the co-debtor so long as you make the payments outlined in your repayment plan.
Read More →What Is Non-Exempt Equity?
Written by Curtis Lee, JD.
Updated May 25, 2022
In Chapter 7 bankruptcy, there are exemptions to protect some of the equity you have in your assets, like a home, car, or household items. If the exemption for a certain item doesn’t cover all the equity you have in it, you have non-exempt equity. Depending on how much non-exempt you have, the bankruptcy trustee may liquidate (sell) the item and give the proceeds to your creditors.
Read More →How To Fight Student Loan Debt in Bankruptcy: Adversary Proceedings Explained
Written by Jonathan Petts.
Updated August 19, 2024
If you want to get your federal student loan debt discharged as part of your bankruptcy case, you’ll need to file an adversary proceeding (AP). An AP is a legal process used in bankruptcy court to resolve specific issues or disputes that arise during a bankruptcy case. Due to changes in late 2022, APs for federal student loan discharge may look different than other APs. Under the 2022 guidance, discharge proceedings are meant to be simpler and more efficient for bankruptcy filers. If you’re filing an adversary proceeding to discharge federal student loans, you may be able to handle it yourself, without hiring an attorney. This article explains how APs work for bankruptcy filers seeking to discharge student loan debt through bankruptcy.
Read More →How To Fight Student Loan Debt in Bankruptcy: Adversary Proceedings Explained
Written by Jonathan Petts.
Updated August 19, 2024
If you want to get your federal student loan debt discharged as part of your bankruptcy case, you’ll need to file an adversary proceeding (AP). An AP is a legal process used in bankruptcy court to resolve specific issues or disputes that arise during a bankruptcy case. Due to changes in late 2022, APs for federal student loan discharge may look different than other APs. Under the 2022 guidance, discharge proceedings are meant to be simpler and more efficient for bankruptcy filers. If you’re filing an adversary proceeding to discharge federal student loans, you may be able to handle it yourself, without hiring an attorney. This article explains how APs work for bankruptcy filers seeking to discharge student loan debt through bankruptcy.
Read More →What Is the Presumption of Abuse in Bankruptcy?
Written by Curtis Lee, JD.
Updated June 1, 2022
You need to meet certain eligibility requirements to file Chapter 7 bankruptcy. If your income is higher than the median income for a similar-sized household in your state, this flags the bankruptcy court of a "presumption of abuse." This doesn't mean you can't file Chapter 7 or that you've abused the system. It does mean you must do more calculations as part of the means test to prove that you don't make enough money to repay your debts and that you aren't taking advantage of the bankruptcy process.
Read More →What Bills Should I Keep Paying After Filing Bankruptcy?
Written by Attorney Andrea Wimmer.
Updated June 6, 2023
One of the biggest benefits of filing bankruptcy is the automatic stay that goes into effect as soon as the case is filed. It means that your creditors (those you owe a debt) are not allowed to keep asking you for money. But, just because you don’t have to pay your debts after filing bankruptcy, you’ll still have some expenses to pay going forward. This article will explore what kind of bills a person filing Chapter 7 bankruptcy has to pay even after their case is filed.
Read More →Dealing with Returned or Undeliverable Mail from the Bankruptcy Court
Written by Attorney Andrea Wimmer.
Updated October 6, 2020
If a creditor’s address is incorrect on the creditor matrix, the court’s notices to the creditor will be returned as undeliverable. You’ll either receive the returned mail (as you’re listed as the “sender” even though the court mailed the document) or a Notice of Undeliverable Mail from the court. Or both.
Read More →What To Do If A Creditor’s Address Changed After Filing
Written by Attorney Andrea Wimmer.
Updated September 4, 2020
If you notice that your creditor’s address has changed on a document/letter they sent to you regarding your bankruptcy, it’s likely that they’ve already provided their new/updated address to the court.
Read More →What You Should Know About Bankruptcy And Luxury Items
Written by Attorney Andrea Wimmer.
Updated September 3, 2020
A luxury item is something that is not reasonably necessary for your maintenance and support. It’s something you don’t need to live. Non-luxury items, on the other hand, are things you purchase to cover necessities for yourself and your dependents. Things like groceries, utilities, rent, and gas. The term luxury item includes both products and services that cost more than $725.
Read More →Why does the bankruptcy court need my social security number?
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
Interestingly, there is nothing in the Bankruptcy Code itself that requires the filer to have a social security number. But, your social security number is how you obtain and maintain credit and how your tax filings and liabilities are tracked, so the bankruptcy court system uses it to keep track of bankruptcy cases. So, if you have a social security number, you have to provide it to the bankruptcy court.
Read More →Why does the bankruptcy court need my social security number?
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
Interestingly, there is nothing in the Bankruptcy Code itself that requires the filer to have a social security number. But, your social security number is how you obtain and maintain credit and how your tax filings and liabilities are tracked, so the bankruptcy court system uses it to keep track of bankruptcy cases. So, if you have a social security number, you have to provide it to the bankruptcy court.
Read More →Help, my 341 meeting is coming up and I can’t find my social security card!
Written by Attorney Andrea Wimmer.
Updated July 30, 2020
Ideally, you’ll have located your social security card at the very beginning of the process and have everything ready to go by the time your creditors’ meeting rolls around. Of course, life doesn’t always go as planned. If you can’t find your social security card in time for the meeting, bring last year’s form W-2 from your employer or one of the other accepted alternatives.
Read More →Discharge vs. Dismissal: What's the Difference?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 9, 2023
When filing bankruptcy for the first time, many people get confused about the different terms lawyers and courts use. Two words that frequently confuse first-time filers are “dismissed” and “discharged.” This article explains each term, what the differences are, and when lawyers and the court are most likely to use them when referring to your case.
Read More →Is It Legal To File a Second Bankruptcy Case?
Written by Attorney Jenni Klock Morel.
Updated August 1, 2023
You can file bankruptcy as many times as you need to, but you usually have to wait between filings. The waiting period depends on several factors, including whether the initial bankruptcy case was dismissed or discharged, what chapter you filed in the first case, and what chapter you plan to file in your second bankruptcy case.
Read More →Can Attorney Fees Be Included in Bankruptcy?
Written by Your Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated July 27, 2023
If you owe attorney fees when you go to file your bankruptcy case, most will be treated as unsecured debt and discharged as part of your bankruptcy case. There are some exceptions to this, especially for attorney fees related to family court matters. Keep reading to learn more about how attorney fees are treated in bankruptcy.
Read More →Filing bankruptcy while working in the gig economy
Written by Attorney Alexander Hernandez.
Updated July 22, 2020
Are you part of the gig economy? Besides your regular job, are you also working with Uber, Lyft, Fiverr, or Task Rabbit? Even though you may be looking to make some extra money as a freelancer to pay down your credit card debt, that extra income could affect your bankruptcy case. Continue reading to learn how a bankruptcy case could be affected by income as a contract worker and what forms you’ll need to pay special attention to.
Read More →Can I keep using my credit cards until I file bankruptcy?
Written by Attorney Andrea Wimmer.
Updated September 4, 2020
Once you’ve decided that you’ll be filing bankruptcy to deal with your debt, you should not continue to incur new debt. That includes making new charges on your credit card, or getting a new loan.
Read More →Store Cards and Bankruptcy
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
Issuing credit cards to their customers is a favorite and quite effective marketing technique used by many retail stores. It makes the customer feel special and come back to take advantage of the “deals” only available to card holders. Common examples include Best Buy, Kohl’s and Apple credit cards. This article explores how store credit cards are treated in a Chapter 7 bankruptcy.
Read More →Disability and Bankruptcy
Written by Attorney Paige Hooper.
Updated July 25, 2023
If you receive disability benefits, they could affect your bankruptcy in two ways. First, they can impact your monthly income calculation on some of your bankruptcy paperwork. Second, if you have disability benefits in a bank account when you file, you may need to use exemptions to protect and keep these funds. This article covers when and how to report disability benefits as income, and how to deal with any lump-sum disability payments you have on hand when you file a bankruptcy case.
Read More →What is a bankruptcy estate?
Written by Attorney Alexander Hernandez.
Updated July 28, 2023
Whenever someone files for bankruptcy, a bankruptcy estate is automatically created. A bankruptcy estate consists of the property or assets that you own. What assets you get to keep because it’s protected depends on the bankruptcy exemptions that you can claim. In this article, we will review what a bankruptcy estate is and what that means for you.
Read More →What Is the Automatic Stay? How Does It Help?
Written by Attorney Jenni Klock Morel.
Updated July 14, 2023
When you file bankruptcy, the automatic stay takes effect immediately. It provides important protections for bankruptcy files. The automatic stay stops all form of debt collection in addition to wage garnishment, repossession, and foreclosure.
Read More →How to get debt relief through personal bankruptcy
Written by Attorney Eva Bacevice.
Updated July 28, 2023
Bankruptcy is a legal process to reorganize or eliminate - or discharge - someone’s obligation to pay all or some of their debts. The Bankruptcy Code provides both protections for filers and a system to treat creditors fairly under the law. Personal bankruptcy is a case filed by an individual (or married couple) to get relief from debt. This article will provide an overview of the two different types of personal bankruptcy and how each can provide you with a fresh start.
Read More →How to get debt relief through personal bankruptcy
Written by Attorney Eva Bacevice.
Updated July 28, 2023
Bankruptcy is a legal process to reorganize or eliminate - or discharge - someone’s obligation to pay all or some of their debts. The Bankruptcy Code provides both protections for filers and a system to treat creditors fairly under the law. Personal bankruptcy is a case filed by an individual (or married couple) to get relief from debt. This article will provide an overview of the two different types of personal bankruptcy and how each can provide you with a fresh start.
Read More →How to get debt relief without risking your safety
Written by Attorney Andrea Wimmer.
Updated August 7, 2020
Filing for bankruptcy protection can be a powerful step towards not only financial freedom, but freedom from financial oppression. It is possible to get this relief without risking your or your children’s safety. This article is all about making sure that your abuser can’t use the bankruptcy court system to further victimize you.
Read More →What to do if your income decreases after filing Chapter 7 bankruptcy
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
If you’re a few months into your case, then you don’t have to do anything. If it changed shortly after your case was filed, wait for the creditors’ meeting and let the trustee know during the meeting that your income has changed. Depending on how much it changed, they may say don’t worry about it or request that you file updated forms.
Read More →Overview of the 7 Most Commonly Used Bankruptcy Exemptions
Written by Lawyer John Coble.
Updated July 28, 2023
Bankruptcy exemptions protect a filer’s property to ensure they're able to take full advantage of their fresh start. While the available exemptions vary depending on the state you live in, there are certain types of common bankruptcy exemptions that are generally found in all exemption schemes. This article gives an overview of the seven most common types of bankruptcy exemptions and how they protect the filer’s property in a Chapter 7 bankruptcy.
Read More →What Does Bankruptcy Mean?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 8, 2023
Bankruptcy is one of those words that everyone’s heard but many don’t really know what it means. Especially with so many high profile bankruptcies in the news these days, it can be hard to figure how bankruptcy can actually help a regular consumer. Let’s take a look at what bankruptcy means and how the different types of bankruptcy enable you to take back charge of your finances.
Read More →What’s a set off and why does the court want to know about it?
Written by Attorney Andrea Wimmer.
Updated August 11, 2020
A set off is when a bank takes money out of your bank account because you defaulted on your payment obligations on a debt owed to that bank. Normally, creditors have to get a judgment before they can reach the funds in your checking or saving accounts, but there is an exception to that general rule: When you have a credit card or loan with your bank, the agreement (either the credit card agreement or the loan documents) will often give the bank the right to pay themselves directly out of your account in the event of a default.
Read More →What’s the Downside of Filing for Bankruptcy?
Written by Attorney Alexander Hernandez.
Updated August 27, 2024
If you’ve already tried everything to get out of debt and you’re still drowning, it’s normal to think that bankruptcy sounds almost too good to be true. After all, a Chapter 7 bankruptcy can eliminate your debts in as little as 4 months. Not to mention that the vast majority of personal bankruptcy filings actually allow the filer to keep all of their belongings. As with everything in life, there are some downsides to filing bankruptcy. Let’s take a look at what they are so you can decide whether filing bankruptcy is the right debt relief solution for you.
Read More →When to Declare Bankruptcy
Written by Lawyer John Coble.
Updated July 28, 2023
You have many options for debt relief. There are debt settlements, debt management plans, debt consolidations, and bankruptcy. Each option has pros and cons. The best choice for you will depend on your particular situation. Whether you should file bankruptcy and what type of bankruptcy to file is unique to your situation. Everyone's financial situation is different.
Read More →Reorganizing Your Debt? Chapter 11 or Chapter 13 Bankruptcy Can Help!
Written by Attorney Jenni Klock Morel.
Updated July 25, 2023
Chapter 11 cases are mostly filed by businesses or people with significant assets and debts. Chapter 7 and Chapter 13 are the most common chapters filed by individuals. Read on to learn more about the differences between Chapter 11 and Chapter 13 bankruptcies.
Read More →What is Chapter 20 bankruptcy?
Written by Amy Carst. Legally reviewed by Attorney Andrea Wimmer
Updated August 15, 2023
Some people struggling with overwhelming debt find that bankruptcy is the best debt relief solution for their unique situation. Determining which form of bankruptcy to file is largely dependent on the amount and types of debt held, and the financial situation of the individual or married couple. When considering bankruptcy, most people first learn about Chapter 7 and Chapter 13, named for the Bankruptcy Code chapters that govern how they work. But a lesser-known arrangement, Chapter 20 bankruptcy, functions as a hybrid of the two.
Read More →What is Chapter 20 bankruptcy?
Written by Amy Carst. Legally reviewed by Attorney Andrea Wimmer
Updated August 15, 2023
Some people struggling with overwhelming debt find that bankruptcy is the best debt relief solution for their unique situation. Determining which form of bankruptcy to file is largely dependent on the amount and types of debt held, and the financial situation of the individual or married couple. When considering bankruptcy, most people first learn about Chapter 7 and Chapter 13, named for the Bankruptcy Code chapters that govern how they work. But a lesser-known arrangement, Chapter 20 bankruptcy, functions as a hybrid of the two.
Read More →Navigating Bankruptcy: Understanding Which Debts Can't Be Discharged
Written by Attorney Jenni Klock Morel.
Updated May 11, 2023
Though bankruptcy provides real debt relief for folks who are struggling to make ends meet, not every debt is treated equally under bankruptcy law. Bankruptcy is a great way to get rid of credit card debt, medical bills, and personal and payday loans. But bankruptcy can’t wipe out recent income tax you owe, alimony, child support, or debt incurred from illegal acts (embezzlement, larceny, etc.) Though there’s a common misconception that student loan debt can’t be erased in bankruptcy, you can discharge, or wipe out, your student loan debt in Chapter 7 or Chapter 13 bankruptcy. You must prove that repaying it is causing undue hardship and that you’ve made good faith efforts to pay in the past.
Read More →What are Priority Unsecured Debts?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 8, 2023
We usually hear debts divided into two categories: secured and unsecured. A debt is secured if the lender has a security interest in some property and can take that property if you don’t pay. But, in bankruptcy, there are other important distinctions. Some unsecured debts get special treatment. In this article, we’ll explain the different types of unsecured debt, and what it means when a debt has priority.
Read More →Everything the Average American Consumer needs to know about Involuntary Bankruptcy
Written by Attorney Amelia Niemi.
Updated July 22, 2020
While no one ever wants to file bankruptcy, the vast majority of bankruptcy cases filed in the United States are voluntary bankruptcy cases. Voluntary bankruptcy cases are initiated when the debtor submits their voluntary petition to the bankruptcy court. It is possible, however, for creditors to initiate an involuntary bankruptcy case against someone.
Read More →Everything the Average American Consumer needs to know about Involuntary Bankruptcy
Written by Attorney Amelia Niemi.
Updated July 22, 2020
While no one ever wants to file bankruptcy, the vast majority of bankruptcy cases filed in the United States are voluntary bankruptcy cases. Voluntary bankruptcy cases are initiated when the debtor submits their voluntary petition to the bankruptcy court. It is possible, however, for creditors to initiate an involuntary bankruptcy case against someone.
Read More →Corporate Bankruptcy Explained
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated July 22, 2020
When a corporation gets into financial trouble, the company may be able to file for bankruptcy protection. In some ways, corporate bankruptcy is like consumer bankruptcy. But, there are also important differences. In this article, you’ll learn how the two types of business bankruptcy differ, how each works, and how corporate bankruptcy is different from personal bankruptcy.
Read More →Bankruptcy Court - A Definition
Written by Attorney Jamie Lee Ruiz.
Updated May 11, 2023
The bankruptcy court is a federal court that oversees all bankruptcy cases filed in the United States.
Read More →3 Important Players in Bankruptcy Court
Written by Attorney Jamie Lee Ruiz.
Updated August 9, 2020
In addition to the person filing bankruptcy, other individuals who will play an important role in your bankruptcy case are your case trustee, your bankruptcy judge, and - if you have one - your bankruptcy attorney. Let’s take a look at some of the important players -other than your creditors - that you may encounter in your Chapter 7 bankruptcy.
Read More →Confused After A Reaffirmation Hearing?
Written by Attorney Andrea Wimmer.
Updated September 3, 2020
Reaffirmation Hearings: An overview of possible outcomes and what it means for you.
Read More →What Your Bank Statements Tell the Bankruptcy Trustee
Written by Attorney Karra Kingston.
Updated July 20, 2023
Even though it is not a formal requirement under the Bankruptcy Code, most Chapter 7 bankruptcy trustees ask filers to provide them with a copy of their bank account statement before the 341 meeting. Many ask for the statement that covers the filing date while some request several months of bank statements. Why are the trustees requesting this information? It’s not to see how much you spent on take-out last month or to judge you for buying your lunch at the QuickTrip by your work every day. Instead, they’re looking for information that may not be anywhere else on your bankruptcy forms. Let’s find out what that might be!
Read More →Completing Debtor Education After Filing Chapter 13
Written by Attorney Karra Kingston.
Updated July 26, 2023
Everyone seeking Chapter 13 bankruptcy relief has to complete a mandatory credit counseling class before their case can be filed with the bankruptcy court. This has to be done in the 6 months before the case is filed. But what about the second required course? What is that all about and when is the best time to take it? Keep reading to find out.
Read More →6 Things You Should Know About the Statement of Intentions
Written by Attorney Andrea Wimmer.
Updated April 5, 2022
If you’re planning on filing a Chapter 7 bankruptcy and have a car loan or other secured debt, here are 6 things you should know about the Statement of Intentions.
Read More →PACER Guide: How To Get Your Court Notices Without an Attorney
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 20, 2024
PACER stands for Public Access to Court Electronic Records. It’s a system to access case information, the docket, and the documents filed in a particular case electronically.
Read More →What Is My Bankruptcy Discharge Date?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 9, 2023
The ultimate goal of bankruptcy is to get a discharge order, which wipes out debts like credit cards and medical bills. Along with your bankruptcy case number, keep your discharge date handy in case you’re contacted about a debt that was discharged.
Read More →What is a Proof of Claim in Bankruptcy?
Written by Attorney Amelia Niemi.
Updated August 15, 2023
A proof of claim is what creditors are required to submit to the bankruptcy court before they can receive any money from the bankruptcy trustee. It’s the creditors’ way of saying, “I’m owed money, and here is how much, and why.” The trustee and the person who filed bankruptcy are given an opportunity to review and may object to any proof of claim that is filed in the case. Let’s take a closer look at how this all works.
Read More →Is there a way to keep a credit card I need when filing bankruptcy?
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
Unfortunately, there’s no way to keep a credit card, no matter the reason. If you owe a balance on the credit card, you have to list it as a debt. The debt will be discharged and the account closed by the creditor. Bankruptcy law requires that you list all of your debts. You are not allowed to simply “leave out” one of your credit cards.
Read More →Chapter 7 Bankruptcy Basics: Why & When is Property Liquidated?
Written by Attorney Kassandra Kuehl.
Updated August 11, 2020
A bankruptcy liquidation is the process by which a Chapter 7 bankruptcy trustee sells the filer’s assets to repay unsecured debts, such as credit cards, child support, or tax debt, as part of a bankruptcy filing. Let’s take a closer look at when a Chapter 7 case takes the form of a true “liquidation” bankruptcy.
Read More →What To Do About Debt Collection After a Bankruptcy Discharge
Written by Attorney Paige Hooper.
Updated August 25, 2023
A bankruptcy discharge order is a court order that stops creditors from ever being able to collect on dischargeable debts. Despite this powerful court order, some collection agencies or creditors try to collect on discharged debts, which is illegal. If you’re contacted about a discharged debt, tell the debt collector you filed bankruptcy and the debt was discharged. If a debt collector sues or threatens to sue for a discharged debt, respond by letting them know about your discharge. You may even be able to counter sue for damages.
Read More →What Type of Bankruptcy Should I File If I Have Assets?
Written by Attorney Karra Kingston.
Updated April 1, 2022
If you are considering bankruptcy to help tackle your debt, your exemptions and assets will play a vital role in determining which type of bankruptcy you should file and what will happen to your property. This article will discuss what an asset is and why it matters when filing bankruptcy.
Read More →What is A Chapter 11 Reorganization Plan?
Written by Attorney Karra Kingston.
Updated July 22, 2020
A Chapter 11 bankruptcy reorganization plan lays out how the filer will pay their debt obligations moving forward. It gives the filer the chance to restructure and renegotiate the terms of paying back creditors.
Read More →What is Monthly Net Income and How Will It Affect My Bankruptcy Case?
Written by Attorney Karra Kingston.
Updated July 22, 2020
Net income is your income after deductions are taken out. Simply put, net income is your take-home pay, what you deposit into your bank account on payday. Generally, a paycheck stub will show all deductions from your income, including taxes, insurance, income tax, and FICA and other deductions that may come out your gross income, such as health insurance. The total amount left over after these deductions is the net income.
Read More →Bankruptcy Basics: What Is Bankruptcy & How Do I File?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 10, 2023
In a nutshell, a bankruptcy case is a legal course of action that puts your debt behind you so you can get a fresh start. This article will give you a short explainer on bankruptcy basics, including what types of cases you can file, how to file bankruptcy, and what to expect from the bankruptcy process.
Read More →How Will Bankruptcy Affect My Professional License?
Written by Attorney Amelia Niemi.
Updated July 26, 2023
There are many benefits to filing bankruptcy, such as the automatic stay, which protects you until your debt is discharged. However, before getting the bankruptcy ball rolling, it’s important to consider how filing could affect other aspects of your life, including your career and professional qualifications. This article will discuss how bankruptcy will, and probably won’t, affect your professional license and what you should know before you file.
Read More →Bankruptcy for Senior Citizens
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 8, 2023
Filing any bankruptcy can be a complicated process but filing bankruptcy as a senior citizen can be especially challenging. This article will discuss when bankruptcy may be right for seniors, the types of bankruptcy and debt relief alternatives to filing for bankruptcy.
Read More →Should I Tell Creditors I’m Going To File Bankruptcy?
Written by Attorney Paige Hooper.
Updated August 9, 2023
Some people believe telling their creditors they plan to file bankruptcy will stop collection efforts or help them settle their debt. This often isn’t the case though. Telling your creditors about a pending bankruptcy filing can have negative consequences like repossession or ramped-up collection efforts. Read this article to learn more about the pros and cons of telling your creditors that you plan to file bankruptcy.
Read More →Bankruptcy and Immigration
Written by Attorney Amelia Niemi.
Updated July 28, 2020
This article will address some common concerns that immigrants may have about filing bankruptcy, and illustrate that in the vast majority of cases, bankruptcy and immigration do not have an effect on one other. It will also explore the few situations wherein filing bankruptcy could have a negative effect on an immigration application.
Read More →How A Personal Bankruptcy Lawyer Can Help You Erase Debt
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 8, 2023
A personal bankruptcy lawyer can help you erase debts or you may choose to file bankruptcy on your own. Depending on the complexity of your situation and the type of bankruptcy you file, hiring a personal bankruptcy lawyer can be a great investment.
Read More →The Small Business Reorganization Act: How Subchapter V Election Changes A Small Business Debtor’s Bankruptcy Filing
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated July 29, 2020
The SBRA creates a subchapter to Chapter 11 that is designed to allow small business debtors an alternative to large and expensive Chapter 11 cases. Electing Subchapter 5 removes many of the financial barriers and administrative burdens faced by small business debtors in a typical Chapter 11 case. While Subchapter 5 streamlines the Chapter 11 bankruptcy process, you will still need an attorney to successfully complete this bankruptcy successfully, as it is a complicated process.
Read More →Consumer Credit Counseling: What You Should Know
Written by Lawyer John Coble.
Updated June 6, 2023
If you feel like your debt is unmanageable and you don't know what to do, working with a nonprofit credit counseling agency is a great place to start. Nonprofit credit counselors offer free credit counseling and are held to a high professional standard through an accrediting agency, the National Foundation for Credit Counseling (NFCC). To make the most of your appointment, get an idea of your financial picture before you meet with your counselor by gathering all your financial documents including credit card and medical bills, student loan and other loan statements, and information about your expenses and income.
Read More →What Does Filing Bankruptcy Do?
Written by Attorney Jenni Klock Morel.
Updated July 28, 2023
The process of filing for bankruptcy can be a powerful tool if you’re hoping to get out of debt. Bankruptcy can erase credit card debt, medical bills, other types of unsecured debt, and it can stop wage garnishments and other collection actions. The two most common types of consumer bankruptcy individuals and married couples file are Chapter 7 and Chapter 13. In this article, we’ll explore both types of bankruptcy and how they can give families a financial fresh start.
Read More →What Are The Penalties For Bankruptcy Fraud?
Written by Attorney Alexander Hernandez.
Updated May 11, 2023
When filing for bankruptcy, you must list all your assets and liabilities. Failure to do so could result in violations of bankruptcy laws and serious consequences, whether it’s civil or criminal fraud.
Read More →Should I File Bankruptcy? What Are My Options?
Written by Attorney Andrea Wimmer.
Updated July 28, 2023
Filing for bankruptcy is a big decision. It’s important to understand what you stand to gain and lose by filing either type of bankruptcy.
Read More →Does Bankruptcy Affect Child Support?
Written by Attorney Andrea Wimmer.
Updated September 29, 2020
Whether you’re receiving or paying child support, a bankruptcy filing will not affect it. If you’re owed back child support, it’s an asset. If you’re the one paying child support and owe an arrearage, it’s considered an unsecured priority debt that is not dischargeable.
Read More →Overdraft Protection and Bankruptcy
Written by Attorney Andrea Wimmer.
Updated October 30, 2020
Whether you'll lose your overdraft protection depends on the type of protection you have.
Read More →Common Docket Entries & What They Mean
Written by Your Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated February 10, 2021
The docket is a case record prepared and maintained by the clerk of the court. Learn what common docket entries mean for your case.
Read More →Unemployment Overpayment & Bankruptcy
Written by Attorney Andrea Wimmer.
Updated August 24, 2021
If you’ve been notified that you’ve received an overpayment of unemployment benefits, you’re probably wondering whether this will impact your bankruptcy. Here’s what you need to know.
Read More →How Do Medical Bills Affect Your Credit?
Written by Natasha Wiebusch, J.D..
Updated June 21, 2021
In 2017, the American Psychological Association found that 72% of Americans felt stress about money sometime in the prior month. Many Americans also stress about how their debt will impact their credit score, since a low credit score can prevent families from securing housing, obtaining certain jobs, and borrowing money in a time of need. One of the most common types of debt that can impact your credit score is medical debt.
Read More →Your Credit Score Is Not Ruined Forever After a Bankruptcy Filing
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 1, 2023
Bankruptcy is a useful debt relief tool. It can give you a fresh start when unpaid debt becomes unmanageable. Sadly, many people attach a stigma to filing bankruptcy and fail to see its advantages and benefits. Instead, they focus on the notion that bankruptcy will forever ruin their credit. But this is just one of the many myths of bankruptcy. It often causes people to put off filing, which only delays bankruptcy’s benefits. While your credit score is affected by bankruptcy in the short term, we’ll discuss how your credit score is not permanently ruined by filing bankruptcy.
Read More →Chapter 15 Bankruptcy – The Basics
Written by Curtis Lee, JD.
Updated July 26, 2023
Chapter 15 bankruptcy isn’t for the reorganization, discharge, or liquidation of debt. Instead, it’s a set of rules and procedures that determine how the United States court system will handle foreign bankruptcy proceedings that involve assets in the U.S. This article details the history as well as the ins and outs of Chapter 15 bankruptcy, as well as situations that might benefit from pursuing Chapter 15 over other forms of bankruptcy.
Read More →Filing for Bankruptcy To Stop Foreclosure: Chapter 7 vs. Chapter 13
Written by Attorney Todd Carney.
Updated August 1, 2023
Filing for bankruptcy can help homeowners to prevent foreclosure. Most of the time, filing for Chapter 13 bankruptcy is most effective at preventing foreclosure, as it allows homeowners to repay their overdue mortgage debt over a 3-5 year period of time.
Read More →Chapter 12 Bankruptcy: An Overview
Written by Attorney Paige Hooper.
Updated August 8, 2023
Filing for Chapter 12 bankruptcy helps family farmers and family fishermen relieve their debt burdens, reorganize their finances, continue operating their businesses, and keep the equipment they need to do their jobs.
Read More →I Can’t Afford an Attorney. Can a Pro Bono Lawyer Help Me?
Written by Attorney Paige Hooper.
Updated November 19, 2021
Nonprofit legal agencies and some attorneys offer free or low-fee assistance under certain circumstances. Other attorneys offer guidance on a contingency basis. Free bankruptcy help can be found via the no-cost filing tool provided by Upsolve.
Read More →The Basics of Chapter 9 Bankruptcy
Written by Attorney Paige Hooper.
Updated July 20, 2023
Chapter 9 bankruptcy offers relief for struggling municipalities by shielding them from their creditors and allowing them to reorganizing their debts. Municipalities are granted broad authority to reorganize these debts, especially those related to pensions and labor unions. Chapter 9 filings are rare but often have lasting effects on communities and states.
Read More →How Can Bankruptcy Help You With Foreclosure?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 1, 2023
Filing for bankruptcy will stop foreclosure proceedings temporarily due to the benefits of the automatic stay. A Chapter 13 bankruptcy may allow you to keep your home by allowing you to make up your past-due payments via a 3-5 year repayment plan.
Read More →U.S. Bankruptcy by the Numbers: Who Is Filing the Most Bankruptcies?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated December 12, 2021
Individuals, businesses, and even cities file for bankruptcy. Both wealthy and financially strapped Americans may need to file for bankruptcy due to a variety of circumstances. Even rich, powerful people take advantage of this opportunity for debt relief.
Read More →What Happens if I Transfer Property Before Filing Bankruptcy?
Written by Attorney Paige Hooper.
Updated March 7, 2022
Transferring property includes selling it or giving it away. If you file bankruptcy, you have to report any property transfers in the two years before you filed on your bankruptcy forms. If the bankruptcy trustee finds that you fraudulent transferred any property, they can undo the transfer to get the property back and sell it to pay your creditors. Read on to learn more about property transfers and how to deal with them when filing bankruptcy.
Read More →How Does a Chapter 13 Repayment Plan Work?
Written by Attorney Paige Hooper.
Updated September 2, 2022
Chapter 13 bankruptcy is sometimes called a wage earner's plan because it allows filers who have regular income to repay all or part of their debts through a 3-5 year repayment plan. The timeframe is usually determined by how your current monthly income compares to the median income in your state. The filer (and their attorney, if they have one) propose the repayment plan and money installment amount to the court. The judge and your creditors can challenge the plan. During the course of your plan, your creditors can't continue collection efforts on your debts.
Read More →Chapter 7 Bankruptcy Exemptions: What Are They and What Happens if You Don’t Claim Them?
Written by Attorney Paige Hooper.
Updated September 2, 2022
Chapter 7 bankruptcy is designed to help filers get a fresh start without losing everything they own. One way this is accomplished is through bankruptcy exemptions. So long as your property is fully covered by an exemption and you claim the exemption(s) on your Schedule C, it should be safe from being sold by the trustee during your case. If you do not claim exemptions for your property, the trustee can take it, sell it, and use the funds to repay your creditors.
Read More →What Is the Rule 2004 Bankruptcy Exam?
Written by Attorney Paige Hooper.
Updated July 25, 2023
The bankruptcy process lets interested parties, like the trustee or creditors, obtain information about the person filing bankruptcy and their financial situation. But sometimes, these interested parties want more information than what’s contained in the bankruptcy filings. When this happens, they can use Bankruptcy Rule 2004 to compel someone to testify in court and/or bring documents that may offer some insight to the bankruptcy-related issue or question.
Read More →What Is a Notice Recipient?
Written by Attorney Paige Hooper.
Updated March 7, 2023
When you file for bankruptcy, your creditors must be notified so that they are alerted to the protections of the automatic stay and so that they can raise any objections they may have to your bankruptcy petition. All of your creditors and any other parties that are legally interested in the outcome of your bankruptcy filing are notice recipients. As notice recipients, they have a right to be alerted promptly to your decision to file for bankruptcy.
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