A filed bankruptcy would cover almost all debts.

Answer Applies to: Maryland
Replied: 10/13/2011

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You must include all your debts. Your credit will be blemished for seven years.

Answer Applies to: Arizona
Replied: 10/7/2011

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You must include all debt when filing bankruptcy. Secured debts are treated differently than unsecured debts. Some debts are non-dischargeable, but they should be included nonetheless. It is possible to reaffirm debts that you want to continue to pay.

Answer Applies to: Colorado
Replied: 10/7/2011

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Short answer is no. You must list all debts and all assets. Bankruptcy is the equivalent of a foreclosure on your credit report.

Answer Applies to: Colorado
Replied: 10/7/2011

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You cannot pick and choose which debt to address in bankruptcy. But there may be different ways of addressing it inside a case. And your credit score will likely drop to 480 upon filing. Many of my clients work with a credit score consultant post bankruptcy to get their score back up.

Answer Applies to: Ohio
Replied: 10/7/2011

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The deliberate omission of any debt is a federal crime, punishable by 5 years in prison and a $250,000 fine and denial of discharge. In some cases there are ways to retain certain debts after filing. Discuss the ramifications and possibilities with your lawyer (and yes, you need one).

Answer Applies to: Georgia
Replied: 10/6/2011

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Bankruptcy discharges liability on ALL of the debt that is subject to discharge; in other words, you cannot choose to keep one credit card, and let the rest go.

Answer Applies to: Indiana
Replied: 10/6/2011

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The entirety of one's assets and liabilities must be disclosed in a bankruptcy petition. A discharge covers all debts that were dischargeable. You can pursue voluntary repayment of a debt after filing chapter 7 bankruptcy. This answer (as well as our Web site) doesn't address all facts & implications of the question; it's general info, not legal advice to be relied upon; it creates no attorney-client relationship; it may be pertinent to CA only; it's independent of other answers.

Answer Applies to: California
Replied: 10/6/2011

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You cannot pick and choose what debts you want to keep or discharge when you file bankruptcy. However, you can keep secured property such as your home or car by continuing to make the payments after filing bankruptcy. After you file bankruptcy, your credit will drop 60 points. However, it starts to rebuild after your discharge. Most people recover in two years and you're eligible to buy a home with a FHA mortgage two years after filing bankruptcy. Thus, the rebuilding process is very quick.

Answer Applies to: Colorado
Replied: 10/6/2011

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It is not possible. You must report all of your debts and dischargeable debts will be discharged. Some types of debts are not dischargeable (such as child support and student loans). You can voluntarily pay any of the debts after the bankruptcy although it would not make any sense to do that except to family and friends. You can recover your credit after bankruptcy fairly quickly assuming that you have sufficient income to obtain credit after the bankrutpcy. You need to apply for credit cards and loans after the bankrutpcy and rebuild your credit history. Within two or three years your credit could be pretty good.

Answer Applies to: California
Replied: 10/6/2011

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It depends. You must report all your creditors. You may not pick and choose which ones get paid and which do not. If you qualify for a Chapter 13, you may be able to keep some of your credit accounts. Much depends on the individual creditor. Your credit score will take a major hit from the bankruptcy, but you will be able to start to repair it very soon.

Answer Applies to: Massachusetts
Replied: 10/6/2011

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When filing for bankruptcy you need to list all of your debts and assets. Sometimes you will want to reaffirm certain debts. Bankruptcy stays on your credit report for 10 years.

Answer Applies to: California
Replied: 10/6/2011

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Bankruptcy can discharge most debts (except a select few like taxes and student loans) . Usually, your credit will rebound within a couple of years and there are steps you can take to move that along more quickly but it takes time. However, you will not have the debt anymore that negatively effects your credit score.

Answer Applies to: New Jersey
Replied: 10/6/2011

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You must address all your debt when you file. As for how bad your credit will be, how bad is it now? Could be that your credit improves after filing bankruptcy.

Answer Applies to: California
Replied: 10/6/2011

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You have to disclose all of your debt when you file bankruptcy. No creditors are likely to let you keep a credit card. And the creditors use a computer system that will flag your social security number once you file bankruptcy and they will know that you filed. But, you will get credit card applications almost immediately after your bankruptcy discharge because they know you can not file another bankruptcy for 8 years. In the meanwhile, you can use a prepaid debit card until you get a new credit card.

Answer Applies to: New York
Replied: 10/6/2011

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You have to list ALL of your creditors. You cannot pick and choose. And many creditors find out about the bankruptcy these days without being notified and terminate your credit cards in any event.

Answer Applies to: California
Replied: 10/6/2011

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The requires you list all of your debt. Your credit can be rehabilitated post bankruptcy.

Answer Applies to: California
Replied: 10/6/2011

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You must list all your assets and all your liabilities in a bankruptcy case but you can reaffirm debts you want to keep paying or just pay them voluntarily. A bankruptcy will be reflected on your credit report for 10 years.

Answer Applies to: Georgia
Replied: 10/6/2011

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In bankruptcy all debt must be disclosed on your bankruptcy petition. Some debt may not be dischargeable which would be the only way you could not discharge that particular debt.

Answer Applies to: Washington
Replied: 10/6/2011

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