If you think it is easy to declare bankruptcy, you may have to think again. Filing bankruptcy is not as easy as it used to be. With the new bankruptcy laws it is not so easy for individuals to file one. However, after you have managed an application it is time for approval. The important part to know is that not all bankruptcies are approved. The federal court tries not to dismiss any cases but there may be cases of dismissal, although few.
Concern regarding bankruptcy: A bankruptcy may be dismissed for several reasons. Even if your application for bankruptcy has been dismissed, it will still show on your credit report. If you did not provide adequate documentation and your application got dismissed, you can re-apply immediately. If your application got dismissed for a more serious issue, then there might be a problem. If you do not claim everything on your paperwork you may be held for bankruptcy fraud which is punishable imprisonment or fines if you are convicted. If you fall in to such a situation you must immediately contact a bankruptcy lawyer.
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Your options: If your case is dismissed by a federal court it is likely that you can apply again. Generally no federal bankruptcy court bars you from filing bankruptcy again. If you want, you can apply for Chapter 7 debt forgiveness or Chapter 13 debt restructuring. If, however, the case is serious, you may have to refrain from filing bankruptcy in the next 6 months or as directed by court.
You have another option of appealing a dismissal of bankruptcy if you realize an error was made. Simply ask the clerk of the court if the option to appeal dismissal of your case exists in your bankruptcy court. If you appeal bankruptcy, you will then have only the original bankruptcy on your credit report. However, you must remember that if you file a separate bankruptcy in a different court, you will have two cases on your report. If your case is serious don't avoid suggestions from bankruptcy lawyers. Seek professional help if needed.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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