One of the most important features of the Bankruptcy Law is that it gives an individual who is hopelessly burdened with debt the opportunity to start fresh wiping out the existing debt.

Our mission on this site is to empower the individual who is thinking of filing bankruptcy the tools and information they need to make informed, educated decisions. We will strive to give you as much factual detail as possible so when you choose to file or not file, you will know you based your decision on massive amounts of compiled information.

A Chapter 7 Bankruptcy wipes out all a person's eligible debts usually within four months. In the vast majority of cases the debtor has no assets that they would lose. Chapter 7 gives a person a relatively quick "fresh start".

A Chapter 13 Bankruptcy is for people who want to pay off part of their debts over a period of three to five years.

Visit our Bankruptcy FAQ's, which give information on most of your questions. Also visit our Audio Clips, which provide information on many of the most common concerns about debt. If your questions are still not answered we have an "Ask a Bankruptcy Lawyer" feature so you can ask a bankruptcy lawyer or attorney in your area a question.

We have all the Bankruptcy Exemptions or assets you can keep in a bankruptcy for each state.

When you are ready to see a Bankruptcy Lawyer or Attorney we have a listing of Lawyers or Attorneys for most states.

Bankruptcy Reform will make it harder for a person to file Chapter 7. The major intent of bankruptcy reform is to require people, who can afford to make some payments towards their debt, to make these payments, while still affording them the right to have the rest of their debt erased. These people must file Chapter 13. If Bankruptcy Reform is passed the law will take effect 180 days after the president signs the Bill.