My question involves bankruptcy in the state of: Spokane. How do you go about filing for bankruptcy? How long does it stay on your credit? If your married do you have to file bankruptcy together? Will filing bankruptcy stop garnishments?
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My question involves bankruptcy in the state of: Spokane. How do you go about filing for bankruptcy? How long does it stay on your credit? If your married do you have to file bankruptcy together? Will filing bankruptcy stop garnishments?
You start the process for filing bankruptcy by filing a petition for bankruptcy in the federal bankruptcy court. For you, that would be the court in Spokane. There is a filing fee of $350 for the petition, though that can be waived if you don't have the resources to pay for it. You’d need to file with the court to proceed in forma pauperis to get the fee waived. You need to know what chapter of bankruptcy you wish to file (for individuals that is usually a choice between Chapter 7 and Chapter 13), and assuming that the bankrupty is for consumer debt, you may need to attend a court approved consumer credit counseling program before filing the petition. It would be a good idea to get help from a bankruptcy attorney for this.
Bankruptcies stay on your credit record for ten years. However, the most problems from that come in the first 2-3 years after the bankruptcy is over. If you keep good credit for a couple of years after the bankruptcy you will start finding it easier to get reasonable credit again, and the longer you go with good credit the easier it will. So it won't be 10 years with lousy credit if you make sure to manage your finances well after the bankruptcy. You may file bankruptcy without your spouse, but discuss with the bankruptcy lawyer whether it is better for both of you to file.