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If I lose a civil lawsuit, can I declare bankruptcy if the amount exceeds my assets & salary?

I am being sued by a hospital that advanced me a salary for 2 years. The "employer" was to have the advance be paid back by the practice, but he released me after 2 more years. His name is not on the hospital paperwork. I currently have assets <20,000 - 30,000 - no stock, no ira or life insurance. I want to know when to file for bankruptcy - before I lose this case or after.

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The filing of either a Chapter Seven straight bankruptcy or Chapter Thirteen debt adjustment immediately stops any lawsuits from being filed or judgments being taken against you. If a law suit is pending at the time of such filing, it can go no further. If a judgment has been taken, its enforcement can go no further. If a creditor has a judgment and is garnishing your wages, the garnishment can be stopped. Filing for Chapter Seven straight bankruptcy may relieve you of the obligation to pay the judgment. In a Chapter Thirteen debt adjustment, you may be able to satisfy the judgment over a period not to exceed five years. If the judgment has placed a lien on your home, that lien can be removed if it interferes with your homestead. If lawsuits or judgments are a threat or reality, the protection afforded under the bankruptcy laws may be an appropriate solution for you.

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Yes. You can file bankruptcy but file after you lose he case.

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It depends on your circumstances. It will really pay you to do some research and work out whether you really do have to file bankruptcy and if so, under what chapter, etc.

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