Well, you want to know about filing for bankruptcy. This is just a fast overview of what to do. I am going to presume that you have yourself a large mountain of debt you can't get rid of. You may be bad with money. You may have lost your job. This is nothing to worry about. Now you're pondering what's your next step?
The first thing I would suggest you get a lawyer. This will make this go a whole lot smoother. The lawyer will do all the leg work for you. I was told you don't need a lawyer to file for bankruptcy, but, all that paper work becomes tedious to fill out and the running around court houses filing takes time.
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Now you need to figure out which bankruptcy you are filing for. I will assume this is a personal case. the most common are Chapter 7 or Chapter 11. Next batch of info you will need is who you owe money to. This is attainable by getting your credit report.
You need to know who and what you owe. These are the creditors you are going to essentially eliminate from trying to collect money from you. You can run one for free once a year. If you're using a lawyer they will do it for you. They will ask you to authenticate that those are the people you owe.
Then, there is going to be one court date that you will have to go to. This is a judge confirming that everything you filed was truthful and that you're not lying.
Some of the other important information:
Unsecured debt is the only stuff you can get rid of. This means credit cards, store cards, phone bills that have nothing secured.
Secured debt would be house. Your house is the security for you mortgage.
You don't pay for your car, they take the car.
Taxes are not relieved through this either. The government always gets their money. There isn't really any way to avoid this through bankruptcy. That's how it works. If there's a tax lien against your house or salary, it won't vanish until you give Uncle Sam his cut.
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