Filing for Chapter 7 bankruptcy is just the first step in a long process. Once you've filed you can be rejected or told to reapply under Chapter 13. To find out how long the process will take you, advises CNBC personal finance expert Carmen Wong Ulrich, consult a bankruptcy lawyer who'll look at your personal situation and give you an estimate.

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 Find more information on coping with the economy with our Bail Yourself Out resources.

According to the Bureau of Labor Statistics, roughly 14.7 million people were unemployed as of June 2009. With millions of American looking for work, everyone is trying to present their best face to employers. But many employers require a credit check before hiring a new employee. What happens when a potential employer sees a bankruptcy on your record? Could that hurt your chances of being offered a job? Carmen Wong Ulrich explains how you can minimize the impact that your credit report has on your job search.

If you have a financial question you'd like Carmen to tackle, post it here in the comments or email us directly at ivcommunity@mail.ivillage.com

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Watch Carmen Wong Ulrich's 'On The Money' Saturdays at 8PM ET on CNBC! Find more information on coping with the economy with our Bail Yourself Out resources.

If you own a home and are contemplating bankruptcy, stop for a moment to consider whether there may be another option that will allow you to pay off your debt and still protect your credit. Carmen Wong Ulrich explains.

If you have a financial question you'd like Carmen to tackle, post it here in the comments or email us directly at ivcommunity@mail.ivillage.com

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Watch Carmen Wong Ulrich's 'On The Money' Weeknights at 10PM ET on CNBC! Find more information on coping with the economy with our Bail Yourself Out resources.

Declaring bankruptcy can be so confusing. How do you know which of your assets are protected and which will go to pay off your creditors? Carmen Wong Ulrich explains to an iVillager who isn't sure why her tax refund is being used to pay off her creditors after a bankruptcy.

Watch what our expert has to say:
















Have a question for Carmen? Post it on our message board.

For more advice watch Carmen Wong Ulrich on 'On The Money'.

If you're thinking about filing for bankruptcy, make sure you know your options and how to best protect your home and your family. Should you choose Chapter 7 or Chapter 11? Our expert helps you navigate the complicated process.

Watch what our expert has to say:
















Have a question for Carmen? Post it on our message board.

For more advice watch Carmen Wong Ulrich on 'On The Money', weeknights at 8 pm ET.