Q: I’m afraid of filing bankruptcy. What happens if it’s not approved?
A: I think you may have the concept all wrong. "Approval" as you suggest is not involved.
Go see a bankruptcy lawyer and complete the interview and any questionnaire given to you. Based upon that interview and the answers, the lawyer will explain your options and he can determine if you "qualify" for the chapter you are seeking.
Anyone can file. As a young lawyer I remember a respected bankruptcy judge saying that you can own the Brooklyn Bridge and Taj Mahal free and clear and owe one soul one penny and you qualify to file.
There is really nothing to fear, just choices to be made, and, perhaps, consequences; but your lawyer can lead you through and answer those fears.
A: I understand your fear. Good news is that an experienced Chapter 7 and 13 bankruptcy lawyer will be able to share with you the pros and cons of each type of bankruptcy. Chapter 7 and 13 are similar but different. You need to know what would happen given your specific facts. I hope this helps a little bit.
A: It is understandable to have fear as you consider bankruptcy. I would suggest consulting with a Bankruptcy attorney to review your specific situation as that consult will help address those fears and help determine which Chapter would be best for you. You will have some choices to make based on your situation which your attorney will help guide you through and explain the process that will follow. Hope that helps.
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