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As a general rule, although bankruptcy can eliminate many kinds of unsecured and secured debts, there are a few kinds of debts that will survive a Chapter 7 or Chapter 13 bankruptcy under the US bankruptcy code. Tax debts are usually among those that federal bankruptcy protection will not eliminate. Still, it may be...

You can file bankruptcy on student loans, but it depends on your circumstances, and the process is complicated. Education loans remain a non-dischargeable debt under 11 U.S.C. Section 523. This means student loans are not automatically discharged in your bankruptcy case.  However, they can be fully or partially discharged by filing an adversary complaint...

Generally, you will be able to keep your house and car when filing for bankruptcy. There are specific state and federal statutes that protect your essential assets from the collection of creditors. These statutes will shield assets like your car and home from seizure. An experienced bankruptcy attorney will help you navigate these statutes. ...

Bankruptcy is a federal process for individuals, partnerships, and businesses that cannot pay all their debts. It is an opportunity for a fresh start. To file for bankruptcy, you must complete the federal bankruptcy forms, which include the voluntary petition, schedules, and statements. The schedules alone require the disclosure of all assets, all income,...

How long bankruptcy stays on your credit report depends on the type of bankruptcy you file. Chapter 7 bankruptcy remains for 10 years from the filing date, while Chapter 13 bankruptcy stays for 7 years. These timeframes are set by the Fair Credit Reporting Act and enforced by the Federal Trade Commission (FTC). Once...