Bankruptcy Laws

[djspawn00]

So uh, what do you guys know about bankruptcy?

I know the laws have changed a lot over the years but unfortunately I never looked into them because I never felt a need to. After getting laid off I'm just starting to wonder what options I have for a worst case scenario.

[cliffypitbull]

Bankruptcy laws differ from state to state. What someone says on here from another state may not be the same for your state. NY? Just keep in mind your credit will be in the crapper for about 7 years if you do file.

Good Luck what ever you decide to do.

[SW03ES]

You should talk to a Bankruptcy attorney in your state. It varies a lot from state to state...

Also, in the current climate don't be afraid to contact your creditors, tell them that you are in or are approaching a difficult situation and ask them to work with you. They will, its better for them and for you than bankruptcy.

Sorry to hear about your job. We just found out that my wife's company is going to be closing in June and they laid off half the support staff in my office yesterday....its tough out there.