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Q: What happens to new medical bills during bankruptcy?
A: BK is consistently done under FEDERAL Laws , in a Federal BankruptcyCourt . Basically , the state makes small variance . ( Yes the BKCourts operations in certain spheres have certain specific exemptionsand such , minors in the general , normally intentioned to make thingsbe complied with the local legislation and customs better ) . Federal BankruptcyCourts handle instances in their jurisdiction , which to be decidedwithout any real respect to State lines or such . There are multiple , numerous Districts , done according to what the Feds believe are theirneeds . There are 2 forms of personal bankruptcy - Chapter thirteen ( where apayment plan is made , and you actually repay as determined thedebt . ) And Chapter 7 where the debts are lawfully dischsrged . Whichone you are able use is an anlysis based on how much you owe , and whatyou have - amongst other things . In a personal bankrupt , YOU go bankrupt . Not a debt , not aloan ... not a automobile ... not a house or a this or that . ALL of yourassets , of every type , MUST be divulged and reported in BK , and ALLof your liabilities/debts is required to too . No exemptions , no pickingand chose . They 're all , always embroiled in some way . THERE IS NO PICKING ANDCHOOSING . BK may stall off a foreclosure for a short whilst ... ... but it 'sentirely various than one , and will NOT prevent the ultimate lossfor longer . Which is 'm saying , in simple terms , you either paying off yourhouse AND all the liens against it , or you lose it ... there exists nomagic or judicial action that will have a various outcome.. After filing and disclosing all , the tribunal will subsequently ordereach of them in priorities accordance with the legislation . Somethings is also possible exempted from used or discharge ( like your personalfurniture and retirement accounts are exempted and children 's supporting andmost tribunal dictated fined or criminalties were not able be discharged ) - andthe rest is also possible used . With one to pay off the another . AGAIN - THEY AREALL INCLUDED AND LISTED - how or if the BK will effect them isdecides to the Court & Laws . ( All feasible creditors arecontacted , and requested that say what these people are owed ... .you are able beneed to even take advertisments out to make convinced everyone wasnotified ) . Not including it is all lieing to the Court andprobably wo n't 've got the effect you want anyhow . And 's thinkingit ... it is on your credit reporting , ot its on a credit application youmade ( and that creditor wished to know what happend to it ... unlessyou 're lyingd on the implementation = criminal fraud ) . Any dealing you 've done for various years is opening to scruitiny andreview . The tribunal can reverse them , take them out of the BK , oreven 've got them prosecuted as was endeavouring to defraud your creditors . ( So , no you ca n't sell your vessel to your brothers and subsequently declare BK ) .PAYDAY loans , while being under the real legislation is also possible negated discharge ( as they renew every three0 days pernd are , therefore too close to filingand be regarded as made in expectation of BK ) , because of howabusive and unfair these people are , if taken out a bit prior to filing , mostjudges will really allow them to be discharged - regardless of themany good controversies the lender has . Virtually all judicial penaltiesand fined were not able be discharged as that is once against the `` publicgood ' ... BK 're not intentioned to allow you to prevent defraying for yourmisdeads and preventing the the effects of prior the acts of that type.No , it wo n't reduce your jail term either . Debts guaranteed by an asset ( say a automobile or home mortgage ) have firstcall or rights to the money receives from that asset . If it isn'tsufficient to pay the debt , the remainder of that debt became ageneral or unsecured claim against the BK. , and has a chances topayment on that level in order too ( albeit a lower priority than those whois still to receive anything ) . The end/remains amount this ca n't be happening satisfied is usuallydischarged by the court ... meaning you no longer owe it . You get afresh essentially debt free starting ... .many of those you owe do n't getpaid what they ha anticipated and is dependent upon , if anything . There are multiple other considerations too . BK will severly hurt yourenabled to get credit for a very long for example . It is onyour credit reporting for at least one0 years ... and employers be mentionedthat too , as do landowners and more . Many do not trust people withbankruptcies in their past , in particular in the past several years . Many more things . That you have done so are in fact available to all , as an issue ofpublic tribunal records , for even longer than the ten years it 's onyour credit reporting . Not disclosing everything items was frequently attempts and easily detected , in such cases , - as you 're swearing under oath to the tribunal youincluded everything information - your case is dismissed , and routinely , fraudcharges are pursued . ( Courts do n't take to being lied to well ) . Many seems to dropped into the trapping believed that they were abletrick or change or especially shortcut the system , or wish tobelieve what they wrongly understanding overrides things ( like I don'thave submit reports that asset since it is exempted ) . It simply ain'tgonna happen . The tribunals , Judges , law , bankers , all those zillions of attorneys , etc , have been through this thousands of times for numerous , manyyears . The processes are comparatively well collaborated through and preparedfor gimmicks and games . It is improbable you would discover 1 thathas n't been trying to a zillion times before ! The Cos that claim they were able change your recording , or make magichappen ( either before or after BK ) , are scams , and getting caughtdoing something unsavory ( intentional or not ) , other than screwingup your bankruptcy filing is frequently regarded as and persuedcriminally . ( Think your financial problem are bad , try adding incriminal ones ) . The judicial proceedings and system are asking for even for thoseexperienced with it . Many of your creditors will have a lawyerto assure they get as much as feasible , even groupes of lawyers , whospecialize solely in bankruptcy . Simply you should/better/required tohave one too . .