Should I File for Bankruptcy?

If you are considering filing for bankruptcy, here's some important information you should know. While a lawyer will also be able to help answer any legal questions, these are the basics that will help you to have a sense of which direction to take when considering filing for bankruptcy. Common questions that a lawyer will be able to answer further in depth are: will all of my debts be canceled in bankruptcy? Can I keep my property? Will bankruptcy stop harassment from debt collectors? Bankruptcy is useful for eliminating credit card debt, medical debt and other unsecured debt, whereas other debt is never canceled in bankruptcy (child support).
Depending on which type of bankruptcy you file you'll be able to keep your home. In Chapter 13 bankruptcy the answer is yes, in Chapter 7, the answer is no. Lucky for you, filing bankruptcy will automatically stay most debt collectors, at least until the bankruptcy is over, however, there is an alternative, and it only requires sending a letter to the collectors stating that you don't want to contacted and they are legally prohibited.