Bankruptcy Basics
What bankruptcy is and how it works: the different chapters, the automatic stay that stops collection, what it does to your credit, what it costs, the required counseling courses, and the myths that scare people away from real relief.
All Bankruptcy Basics guides
- Filing Bankruptcy Jointly as a Married Couple
Should married couples file bankruptcy jointly or separately? How joint filing works, when one spouse should file alone, and community-property rules.
- The Required Credit Counseling and Debtor Education Courses
Bankruptcy requires two courses: credit counseling before filing, debtor education before discharge. Miss either and you can lose your case.
- How Bankruptcy Affects Your Spouse if They Don't File
If your spouse files bankruptcy and you don't, your separate debts and credit stay untouched, but joint debts remain fully yours to pay.
- Do You Need a Lawyer to File Bankruptcy?
No, you're not legally required to have a lawyer to file bankruptcy — but whether you should go it alone depends on your case.
- How to Check Your Credit Report After Bankruptcy
After discharge, pull all three credit reports free to confirm discharged debts show $0 and learn how to dispute errors and how long bankruptcy stays listed.
- The Bankruptcy Petition and Schedules: What You Must Disclose
The bankruptcy petition, schedules, and Statement of Financial Affairs list every asset, debt, and transfer under penalty of perjury. Here's what's required.
- What Is the Bankruptcy Estate?
Filing bankruptcy pulls almost everything you own into a legal "estate" the trustee controls, until exemptions carve out what you keep.
- The Different Types of Bankruptcy Chapters Explained
A plain-English guide to bankruptcy Chapters 7, 13, 11, and 12 - who each is for and the trade-offs, with links to the U.S. Courts.
- What Is Bankruptcy and How Does It Work?
Plain-English guide to how U.S. consumer bankruptcy works: the automatic stay, discharge, Chapter 7 vs. 13, and what it can't fix.
- What Happens When a Creditor Sues You (and How Bankruptcy Fits In)
A creditor lawsuit moves fast toward a judgment, garnishment, or lien. Here's the timeline and how bankruptcy's automatic stay and discharge can stop it.
- How Much Does It Cost to File Bankruptcy?
Filing bankruptcy has three cost buckets: the court fee, attorney fees, and required courses. Here's how each works and where to check current amounts.
- Will Bankruptcy Ruin Your Credit, and for How Long?
Bankruptcy hurts your credit, but rarely "ruins" it. How long it stays on your report, and why scores often start recovering after discharge.
- Common Myths About Bankruptcy
Bankruptcy myths debunked: what exemptions really protect, who finds out, what debts survive, and the real rules behind the fear.
- The Automatic Stay: How Bankruptcy Stops Collections
Filing bankruptcy triggers an automatic stay that halts most collection calls, lawsuits, garnishment, and foreclosure immediately - here's what it covers.
- An Emergency ("Skeleton") Bankruptcy Filing to Stop a Foreclosure or Garnishment
A bare-bones "skeleton" bankruptcy petition can trigger the automatic stay within hours - but a strict 14-day deadline follows.