Bankruptcy Resources

Bankruptcy Information

After seeing news coverage of the 2005 bankruptcy reform laws, you may think it’s impossible to file for bankruptcy anymore. Although it has become more difficult to discharge some debts and more people are required to enter into repayment plans, bankruptcy is still available to most people in need of its protection.

Several types of bankruptcy are available, depending on your assets, income, and financial situation. The Bills.com Resource Center is your guide to the bankruptcy process. You’ll learn about the different chapters, the recent changes to the law, and which debts can and can’t be discharged. Once you’re ready to file, review our instructions on filing bankruptcy.

Bankruptcy is the last resort and will damage your credit. Many people find that consolidating their debts is a better way to solve the problem and protect their financial futures. Review the Bills.com debt consolidation guide to see if this is an option for you.

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Bankruptcy Questions
  • Can I file for bankruptcy myself?
    Although you can file yourself, hiring a bankruptcy attorney is a better option. Filing for bankruptcy is complicated and often confusing. By hiring a professional, you ensure that the correct paperwork is filed and that the process will go smoothly.
  • Will I have to sell my house if I file for bankruptcy?
    Under some chapters of bankruptcy, you must sell your assets, while other chapters permit you to keep them. Whether you can keep your home depends on the amount of equity you have in the home and the chapter you qualify under. A bankruptcy attorney can advise you about your options and rights.
  • Does bankruptcy discharge student loans?
    In most cases, student loans cannot be discharged in bankruptcy. A bankruptcy judge can discharge them in extreme hardship situations, but this is rare and requires additional court filings.