First off, stop comparing yourself to your neighbors.

Currently (as of 10/30/2014):

$383,175 unsecured and

$1,149,525 secured.

There are no debt limits for a chapter 7.

Okay, this isn’t quite a bankruptcy question, but I had a client keep staring at me in court yesterday until they approached me and asked if I was Robert Payne.

It is Halloween in two days, and my two year old is a cowboy (a sheriff), and I am a bad guy cowboy that will be taking him out trick-or-treating.

You may lose the right to ever go to trial or settle that personal injury (“PI”) suit.

In bankruptcy, you are required to list every asset you have, including equitable interests and possible and/or pending lawsuits against third parties.

Probably not, unless you are recently married, have lots of secured debt, or have inherited property.

On the day we file bankruptcy, we list all of your personal and real property.

Probably January 31st of next year.

According to a US News and World Report article last year, the IRS was keeping the earliest tax filing date at January 31st.

3%.

No.

Honestly, if you have the means to pay your creditors off, then you should do so.

No.

In bankruptcy, there are two big categories of debts:

1.

Yes.

I have a client who filed a chapter 7 bankruptcy.