Bankruptcy Blunders: Top Reasons Your Bankruptcy Filing May Be Rejected

Lynnette Khalfani-Cox
Bankruptcy
Bankruptcy

Whether you've lost your job, are carrying an excessive amount of credit card debt, or have big medical bills and are dealing with mounting debt, you may have considered filing for bankruptcy to get a fresh start with your finances.

A recent FindLaw.com survey revealed that one in eight Americans, or 13% of us, have considered filing for bankruptcy protection. And in 2010 alone, 1.5 million U.S. consumers declared bankruptcy, according to the American Bankruptcy Institute.

While filing for Chapter 7 or Chapter 13 bankruptcy can be a way to help you reduce unmanageable debts, not everyone's case is accepted by bankruptcy courts.

Your bankruptcy filing can be rejected for a number of reasons - often due to mistakes or omissions in your paperwork. That's why it's important to educate yourself on the rules and limitations of each type of bankruptcy, and also to consider working with an experienced bankruptcy attorney to assist you with the process.

Here are a few reasons why your bankruptcy filing could be rejected: