Online Info: File for Bankruptcy - 11 Bankruptcy Commandments - 4 of 11

Online Info: File for Bankruptcy - 11 Bankruptcy Commandments - 4 of 11

4. Thou shalt keep paying for the stuff you need/want to keep.

Note: When you consider whether to file for bankruptcy and start online gathering information, after starting your research, feel free to call me, bankruptcy attorney Laura Buchanan, at 323-686-5400 ext. 2 for more information.  As of the date of this post, one cannot simply file for bankruptcy online.  You need to file papers at the Court.  If you use an attorney, they will file electronically for you.

Bankruptcy is an opportunity for a person to turn their financial life around.  It is not a free pass.  You need to keep making payments on property that (a) you need to keep, (b) you can afford, and (c) secures your debt, such as your home or car. 

BUT only keep tha property if you can afford it without borrowing more money or using your "exempt" property, meaning property that bankruptcy law allows you to keep. 

For the first Bankruptcy Commandment in this series of blog posts, click here.

For the second Bankruptcy Commandment in this series, click here.

For the third Bankruptcy Commandment in this series, click here.

This is the fourth Bankruptcy Commandment in this series.

For the fifth Bankruptcy Commandment in this series, click here.

For the sixth Bankruptcy Commandment in this series, click here.

For the seventh Bankruptcy Commandment in this series, click here.

For the eighth Bankruptcy Commandment in this series, click here.

For the ninth Bankruptcy Commandment in this series, click here.

For the tenth Bankruptcy Commandment in this series, click here.

For the eleventh Bankruptcy Commandment in this series, click here.