QUESTION
Am I able to file bnkruptcy for one item on my credit report?
Asked on Feb 25th, 2012 on Bankruptcy - Kansas
More details to this question:
I am cutrently being sent to court by a creditor I want to know can I file bankruptcy for one item or does the requirements entail that I have to have several items to qualify for bankruptcy?
14 ANSWERS
You cannot just file bankruptcy on one creditor when you in fact have several or multiple creditors that are similarly situated.
Answered on Mar 05th, 2012 at 3:12 PM
Business Bankruptcy Attorney serving Raleigh, NC
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J.M. Cook, P.A.
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No. You must list all your assets and liabilities. You can not pick and choose your creditors.
Answered on Mar 02nd, 2012 at 7:31 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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When you file bankruptcy all assets and all debts are listed. You can voluntarily pay any debts discharged.
Answered on Feb 29th, 2012 at 11:03 AM
Bankruptcy: Creditor Attorney serving Grand Island, NE
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Milner Neuhaus & Judds
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You must list all of your debts when you file for Bankruptcy protection. You may, however, reaffirm any debt you desire and pay it. If you are trying to eliminate just one particular debt, be sure it is large enough to make the expense of filing economically feasible.
Answered on Feb 29th, 2012 at 10:48 AM
Chapter 7 Bankruptcy Attorney serving Lisle, IL
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Mankus & Marchan, Ltd.
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If you file bankruptcy, you have to declare ALL your assets and ALL your debts without exception. However, you can reaffirm any debts you choose and agree to pay them back notwithstanding the general discharge of bankruptcy.
Answered on Feb 29th, 2012 at 10:05 AM
Bankruptcy Attorney serving Hayward, CA
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Carballo Law Offices
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One debt is enough. It is not the number of debts but the amount owed. One debt could be a million dollars and 100 debts could add up to $100. Whether the amount is enough to file for bankruptcy depends on your ability to pay and you must consider the cost of the bankrutpcy case and decide which is the best option given your credit record, earnings and ability to pay without discharging the debt in bankruptcy. It is like pain. Everyone has a difference pain tolerance level.
Answered on Feb 29th, 2012 at 4:36 AM
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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One creditor is enough.
Answered on Feb 29th, 2012 at 4:00 AM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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You can have just one debt in a bankruptcy but all debts must be listed.
Answered on Feb 29th, 2012 at 3:04 AM
Chapter 7 Bankruptcy Attorney serving Milwaukee, WI
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Law Offices of Deborah A. Stencel
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I can read your questions two ways - (1) that you only want to include one of several debts and (2) that you only have one debt and you are concerned this is not enough to file. You don't have to have more than one debt to file, but if you do file everything/everyone you owe must be listed. Certain debts can be kept post-bankruptcy if you can afford to keep paying them example would be mortgages and car loans.
Answered on Feb 28th, 2012 at 10:28 PM
Domestic Relations Attorney serving Huntsville, AL
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Ferguson & Ferguson
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You have to list all your debts on a bankruptcy. Certainly if you have only one debt though and it is large enough to warrant filing, then you can file a bankruptcy with just one debt.
Answered on Feb 28th, 2012 at 10:22 PM
judith runyon
All of your creditors have to be listed in any bankruptcy.
Answered on Feb 28th, 2012 at 10:21 PM
You are required to list all your debt on Schedules D, E and F. Not allowed to "pick and choose." However, you can on your own pay back whatever debt you'd like, including any listed debt to be discharged although this would not make much financial sense to do that. If you have only one creditor then it is permissible to file on that one creditor only, no limit on how many or how few creditors you may have.
Answered on Feb 28th, 2012 at 10:08 PM
There is no minimum or maximum number of debts. You must list all your assets and all your debts.
Answered on Feb 28th, 2012 at 5:46 PM
Bankruptcy Attorney serving Overland Park, KS
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The Smalley Law Firm, LLC
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You can file bankruptcy with only one creditor.
Answered on Feb 28th, 2012 at 5:27 PM