I have lost my job and I have huge credit card debt. What are the conditions under which I can file a bankruptcy? Can the creditors bring judgment to garnish my bank account after I file bankruptcy.
There are two types of Bankruptcies - Chapter 7 and Chapter 13. Chapter 7 bankruptcy is also known as the liquidation bankruptcy where you need not pay back any amount towards the debt. But whether you qualify for Chapter 7 or 13 will be determined by the credit counseling which you need to undergo within 180 days of filing bankruptcy.
Once you file bankruptcy, all your existing judgment for garnishments will cease to operate with immediate effect.
Once you file bankruptcy, the creditors must stop all existing garnishment. You may also include the debts which are already under garnishment into the bankruptcy. If the bankruptcy is discharged, all debts that are included in bankruptcy will show as "included in bankruptcy" and the outstanding debt amounts will show as $0 the debts that are included in bankruptcy either separately or in a group.
There are two types of Bankruptcies - Chapter 7 and Chapter 13. Chapter 7 bankruptcy is also known as the liquidation bankruptcy where you need not pay back any amount towards the debt. But whether you qualify for Chapter 7 or 13 will be determined by the credit counseling which you need to undergo within 180 days of filing bankruptcy.
Once you file bankruptcy, all your existing judgment for garnishments will cease to operate with immediate effect.
Once you file bankruptcy, the creditors must stop all existing garnishment. You may also include the debts which are already under garnishment into the bankruptcy. If the bankruptcy is discharged, all debts that are included in bankruptcy will show as "included in bankruptcy" and the outstanding debt amounts will show as $0 the debts that are included in bankruptcy either separately or in a group.