Want to learn how to file bankrupt? Your in the right place.

April 10, 2011 - PRLog -- Do you know the process of filing for bankruptcy?



Well your about to learn.



Filing for bankruptcy should be a last resort if you have stacked up a serious amount of debt, explore every option before you decide to do this.







The first thing i did was file bankrupt through the bankruptcy court.



Remember, no matter if you decide to file bankruptcy on your own (which i don't recommend) or hire a lawyer, you must know which type your filing for.







Should i file chapter 13 or chapter 7?







Did you know that chapter 7 bankruptcy is the most used?





It involves a total liquidation of your property to pay off your remaining debts, (chapter 7 is the form i used).



It gave me a fresh start, but all my property and assets were sold.





Chapter 13 allows people to take on a financial reorganization supervised by a federal bankruptcy court.



This form sets a payment plan between you and your creditors, observed by the court.



You will be able to keep your home and car, but you must make payments following the court's terms within a 2 to 4 year period for most situations.


To learn everything about filing bankrupt, please visit http://hubpages.com/hub/bankruptcyhelp3  now!