“It used to be Easy”
It used to be that bankruptcy was a relatively easy process to go through. Before the new bankruptcy law came into effect, you could file for bankruptcy relatively easily. If you had too many debts, it didn’t matter what your income was, for the most part. You could simply file for bankruptcy and have your debts wiped out so that you could start fresh, and people were doing this all the time, some even every year. However, that’s not true anymore.
New Bankruptcy Laws
New bankruptcy laws have made it much more difficult to both file for bankruptcy and to prove that you qualify for bankruptcy. In addition, if you do file for bankruptcy, you have to prove absolute financial hardship and lack of income to have the slate wiped clean. Even then, you don’t walk away scot-free, because you’ll usually lose any unprotected assets such as your house.
How This Site is Organized
In the following page, we will discuss the important bankruptcy laws, separated by State to the right. Within each State’s page, we have state specific information, including direct source information to contact court officials in your area. We have also included several links to specifically help you get in contact with lawyers who are here to help you in the filing process free of charge. Welcome to 4BankruptcyLaws.com, we hope this information is helpful.
While the information presented is accurate as of the date of publication, it should not be cited or relied upon as legal authority. It should not be used as a substitute for reference to the United States Bankruptcy Code (title 11, United States Code) and the Federal Rules of Bankruptcy Procedure, both of which may be reviewed at local law libraries, or to local rules of practice adopted by each bankruptcy court. Finally, this publication should not substitute for the advice of competent legal counsel.