In prison?  If You Are Going to File Bankruptcy, You Must Follow the Rules – No Exception.


To follow the rules, first you must know the rules. 

Bankruptcy is not a game.  If you file bankruptcy you must follow the rules, even if you are in prison.  This debtor wanted the Bankruptcy Court to help him file his list of creditors (a requirement to stay in bankruptcy).  The Court said “ah, no.  That is your responsibility, not the court’s”. 

I understand that people want to make their lives better and filing for bankruptcy protection may be one of those options.  But, if you are going to jump off the bankruptcy cliff, no one is there to catch you.  It is possible you will find hungry sharks in the dark waters below.  It is possible you will be forced to give up assets that are not exempt.  Understand that your family may be sued in order to take back the monies you paid them while you were not paying other debts.  These are just a few of the nightmares that could be waiting for you if you file bankruptcy without understanding the rules. 

Mr. Harrell does not know it, but now he has a bankruptcy on his credit, despite the bankruptcy being dismissed. Yes, he can file another bankruptcy, but then he will have two bankruptcies on his credit.  Oh, another surprise – there are rules about filing multiple bankruptcies.

Finances are confusing and everyone needs to take time to determine the best way to find a solution that works in the long run, not just today. Never rely on the Internet for advice – there is more bad advice than good. Always seek advice from at least two people who are experienced in the area you need help. Once armed with good information, then use your common sense to decide what is best for you.

– Diane L. Drain

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