Archives: October 2011

Can I file without my spouse filing?

For joint debts, if one spouse files and the other does not, only the filing spouse receives a discharge, and the non-filing spouse remains liable.  In this situation, therefore, it is necessary for both spouses to file in order for both spouses to be discharged.  However, if the debts are...

Will my employer be notified if I file for bankruptcy?

Generally, in a Chapter 7 bankruptcy, your employer will not be notified (unless it is a creditor).  In a Chapter 13 bankruptcy, the trustee will usually issue a notice to your employer directing it to withhold the monthly plan payment from your wages and forward it to the trustee.  Federal...

Will filing bankruptcy ruin my credit?

Credit reporting bureaus will report your filing for no more than 10 years after you file your petition.  In reality, most people who file for bankruptcy already have poor credit histories because of all of their debt.  By discharging most of this debt, an individual’s credit worthiness can actually improve...

Can I file Chapter 7 bankruptcy if I have a job?

Yes, assuming that your income does not disqualify you.  One of the 2005 changes to the law was the imposition of a “means test” that involves a complicated calculation to determine the debtor’s ability to repay the creditors.  If an analysis of your income and expenses suggests that you have...

What happens to my property in a Chapter 7 bankruptcy?

Under Chapter 7, a person called a “trustee” is appointed to take charge of part of the debtor’s property that can be sold to pay creditors.  Under the law, only property that is not “exempt” can be taken and sold for this purpose.  For example, in North Carolina a debtor...