Bankruptcy Basics

The information contained in this section is provided for informational purposes and does not substitute for legal advice. The laws and court rules pertaining to a bankruptcy proceeding are highly technical and complex. Following instructions and using the forms provided to you will not guarantee a favorable result. It is strongly recommended that you talk to a lawyer about your bankruptcy before proceeding on your own.

Should I file for bankruptcy?

Whether to file for bankruptcy is a very personal decision. Some people find it helpful to file a bankruptcy case when they cannot pay their bills and they do not anticipate having the ability to pay their bills in the near future. Often, people file because their financial situation is causing them emotional distress or depression, or because they would like to free themselves of debt now, if legally allowed, and have their income and assets to themselves in the future.

Your Legal Rights During and After Bankruptcy

Bankruptcy is a choice that may help if you are facing serious financial problems. You may be able to cancel
your debts, stop collection calls, and get a fresh financial start. Bankruptcy can help with some financial
problems, but does not guarantee you will avoid financial problems in the future. If you choose
bankruptcy, you should take advantage of the fresh start it offers and then make careful decisions about future borrowing and credit, so you won’t ever need to file bankruptcy again!...