Legal Question in Bankruptcy in California
what happens if you go to bankrupt?
what do you have to do?
Asked on 10/29/09, 11:50 pm
1 Answer from Attorneys
Robert F. Cohen
Law Office of Robert F. Cohen
You have to disclose in writing all of your assets and all of your debts. You have to list your creditors, and sign a lot of papers under penalty of perjury. You must take a pre-bankruptcy credit counseling course, a financial management course during the bankruptcy. Once the bankruptcy is over, a typical debtor is award a discharge which makes most -- if not all -- of the debts no longer collectable.
Answered on 11/04/09, 2:57 am
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