Frequently Asked Questions (FAQs)

The answer to this question is highly dependent on your individual circumstances. Accordingly, you should meet with a competent bankruptcy attorney in order to determine the Chapter 13 process can save your home. Generally speaking, Chapter 13 can save your home if you have enough income o support a Chapter 13 plan. Whether your income is sufficient, it requires a detailed analysis of your financial circumstances and can be effectively assessed by a bankruptcy attorney.

Once you file for bankruptcy, something known as the automatic stay goes into effect requires all collection activity to stop against you and your home.

The automatic stay gives you the breathing spell to propose a Chapter 13 plan that will allow you to save your home.

If approved by the bankruptcy court, then the bank must comply with the terms of the plan and must deem you current upon the completion of the plan.

Typically, the consumer, if represented by an attorney, is not required to appear in court (in the vast majority of Chapter 7 and 13 cases).

You can call or email me to set up an appointment to discuss your case. If you are unable to meet in person, we can meet via video conference. The consultation is free for the 1st hour. All is needed is the completed intake form with the requested documents to be completed before our consultation. Please call or email me for an intake form and to schedule your consultation.

In a Chapter 7 bankruptcy, generally speaking, involves a discharge of most of your debts (as not all debts are dischargeable) with no distribution to your creditors. Typically, a Chapter 7 Bankruptcy takes months to complete. 

In a Chapter 13 Bankruptcy, is designed for the repayment of your debts over a period of time (usually 3 to 5 years depending on your eligibility).

Of course, the determination to select a Chapter 7 or Chapter 13 are dependent on several factors and issues that can only be determined by a consultation with a bankruptcy attorney. 

The short answer is no.  It is a must that you fully disclose all of your debts and assets in your bankruptcy petition.  Filing a bankruptcy petition is filed and signed by the debtor or debtors under the penalty of perjury.

The short answer is no.  However, would need to allocate how the debts are held (are they in the Wife’s name?  Husband’s name?  Or both?). 

Also, your spouse’s income, depending on the situation, maybe a factor in your eligibility to file for bankruptcy. 

This question is more complex than it seems and can be clarified with consultation with a bankruptcy attorney.

By the filing the proper bankruptcy depending on your position and discussing it with a bankruptcy attorney, you may be in a position to keep your assets.  This question is more complex than it seems and can be clarified with consultation with a bankruptcy attorney.

The creditors should not be allowed to contact you or take any action from collecting money from you once your bankruptcy petition is filed.  Creditors are not allowed to file or purse its lawsuit against you without seeking permission of the bankruptcy court.

Yes, it will.  Filing bankruptcy is considered a negative mark on your credit report and may last on your report for up to 10 years.  However, many people have been able to purchase or lease cars after their bankruptcy.  In some cases, and after waiting the required time period, you may be able to apply for a mortgage to purchase a home.