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What are the consequences of filing bankruptcy?
Depending on a debtor's financial situation and reasons for filing, the consequences of filing for bankruptcy protection may outweigh the benefits. Those considering bankruptcy should be aware of the following:
Filing for bankruptcy protection is not free. Please refer to the Fee Schedule Not all debts are dischargeable.
Example: Secured creditors retain some rights which may permit them to seize take property, even after a discharge is granted. Spousal and child support obligations, most student loans and most tax debts are not dischargeable.
Within 14 days of the filing of the bankruptcy petition, schedules of the debtor’s assets and liabilities must be filed. Failure to timely file the appropriate schedules may result in dismissal of the case and the barring of the debtor from filing again for 180 days (six months). 11 U.S.C. §521 mandates that a chapter 7 or chapter 13 case “shall be automatically dismissed effective on the 46th day after the date of filing of the petition” if the debtor fails to file “all information required by 11 U.S.C. §521(a)(1)” within 45 days of filing. If the case is dismissed and a discharge is entered by the court, the debtor is banned from being granted another discharge in chapter 7 and 11 within eight years. Fraudulent information or acts by the debtor are grounds for denial of a discharge and may be punishable as a criminal offense.
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If I file for bankruptcy, will it stop an eviction?
The Clerk's Office is prohibited by federal statute from providing legal advice. If you have any questions on how a bankruptcy filing affects enforcement of an eviction proceeding, please contact your legal advisor
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Are You a Duplicate Filer?
If you have previously filed for bankruptcy, you may not be eligible to receive a discharge in your new case. Click here to view a chart to help you determine whether or not you are eligible to receive a discharge when you file your next bankruptcy case. If you file before sufficient time has passed since your previous filing, the Court will issue a Notice of Ineligibility to Receive Discharge or an Order to Show Cause why your case should not be dismissed.
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A company or individual has filed for bankruptcy and owes us money. What do we do?
If you have been listed as a creditor in the bankruptcy case, you will receive a written notice in the mail from the Clerk's office advising you of the case filing, the date for the Meeting of Creditors and any important case deadlines. This notice will also tell you whether or not you should file a claim in the bankruptcy case at that time, and the deadline for filing the claim if one is to be filed. The notice will also give you important deadlines for filing complaints to object to a debtor's discharge or dischargeability of certain debts