Dealing with Debt

Questions & Answers

Question: Regarding Bankruptcy: How long does it take to file, can you see a lawyer one day and file the next? Do your credit cards need to be delinquent to file BK or can they be current? Can they take my 401K if I file BK? How long will BK put off a Trustee sale? If your mortgage is delinquent can you still file BK to try to put off the trustee sale? If you have 2 accounts with one credit company like Discover and one is joint with someone else and one is only in your name, can you just file BK on the one in your name only without them going after the other card with joint owner? Thank you

Answer: The United States Bankruptcy Court for the District of Arizona has a "Frequently Asked Questions" section. (Scroll down to "Debtor" FAQs).   The information may help answer many of your questions.

May 30, 2008