Can my creditors harass me after filing bankruptcy?
No, they will not! As per the law, once the bankruptcy documents are files, creditors must cease all the actions against debtors. Creditors cannot continue any lawsuits or call for payments.
Do spouse get affected?
If you spouse is not responsible that is didn't sign a contract or agreement, then they won't be affected. There are few cases where it is must for both husband and wife to sign the contract, such as purchasing or selling of a property. But other debt, such as credit cards, doesn’t require both to sign.
Consult your lawyer for more information on this.
Who can know?
Though Chapter 7 filings are public records, no one will know about that. There will be a record of your filing with the Credit Bureaus and for next 10 years it will remain on your credit record.
Will I ever get my credit again?
Yes! Many banks offer "secured credit cards where debtors need to put up a certain amount of money in account as security and guarantee payment. Initially the credit limit will be equal to the amount deposited and then it increases as per your payment record.
After two year of discharge, debtors can also avail mortgage loans on normal terms and conditions. Filing bankruptcy record stays for 10 yrs on your credit report. After that it becomes less significant.
How much it cost?
Filing chapter 7 bankruptcy will cost you $300 plus the lawyer's fees. Bankruptcy lawyer's fee varies, but should not be more that $2,000.