Bankruptcy Filing Information

Bankruptcy filing information is readily available to those who need it, but it is important to note that not all information found online is reliable. It could be outdated, especially with the new bankruptcy laws passed in 2005. In addition, some of the information found online may not be state specific. While some bankruptcy laws are in fact federal and therefore nationwide laws, each state has the right to impose other laws as well. For example, all bankruptcy filing information regarding assets should have a basis on the state's requirements for exempt property, including homestead allowances. It is best to work with an attorney to file bankruptcy on your behalf as this allows the process to occur properly and assures that any complications will be minor. Those filing bankruptcy should keep in mind the importance of having accurate, up to date information.

Fast Facts

  • Gather accurate information about bankruptcy filing, including the fact that you may only file Chapter 7 bankruptcy one time every six years.
  • Chapter 13 bankruptcies may receive filing more often, based on state laws, though only one case may be open at a time.

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