theplayer225 asked:


What happens to creditors when someone declares bankruptcy?

I know they get screwed but if that person starts making money again can they still get the money or they don’t have to pay it back ever? like if they get out of bankruptcy , how does that work?

Shola asked:


If you file for bankruptcy, are all your debts forgiven or do you still have to pay them back? How about Federal student loans?

If things pick up again and say after two or three years you get back to your old place earning good income, will you really have a hard time getting credit again even with bankruptcy on your record? And, can the old creditors come after the old debt?

leisa_k asked:


I am in chapter 13 bankruptcy that was confirmed in February. I have made all the required payments to my trustee since I filed last September. She has NOT made a payment to my mortgage company since March and now they want to forclose on my property. I gave my attorney all the payment receipts to prove I made them. Are there any repercussions to the trustee for not making the payments? She has over $6,000 of mine that she hasn’t paid to my mortgage company. What can we do?

uknowitlikethat asked:


I want to file bankruptcy because i am in a lot of debt. I have heard that i can only make $1836 a month before taxes. If i make more up to 75% can go to creditors. I just wanted to know how long this lasts. I dont want to be paying this for years to come. Would appreciate an answer from somebody who knows the facts or someone who has been in the same situation.

blakesmommie asked:


We are going to file, but my question is, we have a checking account that certian creditors refused to stop pulling automatic payments from and now it is over drawn, ALOT. So i was wondering if we could file bankruptcy on that checking account? Im sure we can, its a debt to us now…

SB asked:


Im thinking of filing for bankruptcy, but I dont know what can and cannot be discharged or dismissed.

cory asked:


I am thinking of filing for bankruptcy. Can creditors touch the equity I have in my home? What assets can they cease?

anneliesern asked:


When I filed for bankruptcy back in march, I closed my account at my bank and started a new account at a different bank. Now the bankruptcy court wants my statements from my old bank and I do not have them. I go for my hearing in the A.M. Do I bring my account statements from my new bank (after I filed) or can I bring old bills proving that I tried to pay my creditors? What do I do and why do they want my statements?

ariel_okinawa asked:


In other words, my bankruptcy was discharged at the end of March, when will the credit report relect which accounts were thrown out in the bankruptcy?

Thanks!
DAS: I know that the items stay on the credit report, but they will have a note indicating that the were included in the bankruptcy so that any future creditors can see that the debt is not outstanding.