Filing For Bankruptcy

Filing for Chapter 7, Chapter 13, or Chapter 11 bankruptcy involves fully disclosing your financial affairs on bankruptcy forms. You’ll list income sources and assets, expenses and debts—even property transfers occurring up to ten years before the petition filing—on the petition, schedules, and other documents.

Completing the paperwork takes time. Even the most simple filings are about fifty pages long. If time isn’t something you’ve got—for instance, you’re filing for bankruptcy on the eve of a foreclosure sale—you can file a shortened version called an emergency or skeleton bankruptcy filing.

It takes more than filling out bankruptcy forms to start a bankruptcy case, however. Consumer filers must attend a credit counseling course and attach the completion certificate to the filing documents. Chapter 13 and 11 debtors seeking to reorganize debt must draft and file a proposed repayment plan detailing how each creditor will be paid.

The final step? Be prepared to pay the bankruptcy filing fee. Chapter 7 filers short on cash can ask the court to waive it or to allow payment in installments.

The bankruptcy articles below explain the financial documents you’ll need and where to find the bankruptcy forms. You’ll also find information about credit counseling, fee waivers, emergency filings, and more.

Related Issues: Bankruptcy planning information, such as filing timing, things to avoid before filing for bankruptcy, and multiple bankruptcy filings are located in the prebankruptcy planning area.

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Filing for Bankruptcy

How to File for Chapter 7 Bankruptcy

Learn how to complete the forms you'll need to file for Chapter 7 bankruptcy.
What Is Chapter 7 Bankruptcy and How Do You File?

Get a quick overview of the process and steps involved in a Chapter 7 bankruptcy case.
Steps in a Chapter 13 Bankruptcy Case

The steps in a typical Chapter 13 bankruptcy case include filing initial paperwork, drafting a repayment plan, and attending a 341 meeting of creditors. After completing the three- to five-year repayment plan, the court discharges (wipes out) qualifying debt balances.

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Timing Your Bankruptcy Filing

Top 7 Reasons to File for Bankruptcy Right Away

If you are in one of these seven situations, you might benefit from filing for bankruptcy sooner rather than later.
How Often Can You File for Bankruptcy?

There is no limit to how many times you can file bankruptcy, but if you've filed before, your debts can only be discharged after a waiting period expires. Also, if the automatic stay doesn't attach, you'll have to file a motion asking the court to protect you from collection actions by putting the automatic stay in place. Learn more about how many times you can file for bankruptcy.
I just lost my job and need bankruptcy. Should I file now or wait?

In many situations, it makes sense to wait to file for bankruptcy if you've just lost your job.

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Bankruptcy Petitions

Where Should I File My Bankruptcy Petition?

Here's how to figure out the correct bankruptcy court in which to file your bankruptcy petition.
What Should I Do if I Find a Mistake on My Bankruptcy Petition?

You must fix mistakes on your bankruptcy petition or schedules by filing an amendment and informing the bankruptcy trustee.
How to File an Emergency Bankruptcy Petition

If you need to file for bankruptcy quickly, you can file a bare-bones emergency petition now and the remaining documents later.

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The Credit Counseling & Debtor Education Requirement

What Are the Differences Between Credit Counseling and Debtor Education in Bankruptcy?

With a few rare exceptions, you must get credit counseling before you file for bankruptcy, and complete a debtor education course in financial management afterward. Here are the details.

Converting Your Bankruptcy

Converting Your Chapter 7 Bankruptcy to a Chapter 13 Case

Learn when you might want to convert your Chapter 7 bankruptcy case to Chapter 13, or when the court will require it.
Converting a Bankruptcy Case from Chapter 13 to Chapter 7

If you can no longer afford to be in a Chapter 13 bankruptcy, you may be able to convert your case to Chapter 7.

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