1) What are my options in bankruptcy?
Answer: Only two types of bankruptcies
apply to consumers, Chapter 7 and Chapter 13. Chapter 7 will
liquidate or wipe out unsecured debt. Chapter 13 is a reorganization
or repayment of debt. How much you repay and to whom depends
on how your attorney structures a plan.
2) My house is in foreclosure. Can I stop the sale
of my house and get assistance to catch-up my payments?
Answer: Yes. A Chapter 13 Reorganization
will allow you to take the payments you are behind an put
them into a repayment plan through the bankruptcy court.
3) I filed a Chapter 7 in the 1980's. Am I eligible
to refile?
Answer: Yes. You are eligble to file a
Chapter 7 every eight years from the commencement of your prior
case unless a bar on refiling has been placed by the court.
4) How much does a bankruptcy cost? If I can afford
to pay my bills how do I pay an attorney?
Answer: What a bankruptcy costs depends
on how complicated and time consuming the case will be. For
this reason, attorneys offer free consultations to sit down
with you and review your specific situation to determine the
cost involved. Often what it costs to file a bankruptcy is
less than the monthly minimum payment you have been struggling
to make. Our firm offers payment plans to assist you in paying
the costs. During the payment plan you will refer all of your
creditors to our office.
5) I have just received a garnishment. Will a bankruptcy
stop them from taking my money?
Answer: Yes, the filing of either a Chapter
7 or Chapter 13 will halt any collection actions on the part
of your creditors. You may even be able to recover the funds
that have been withheld. The quicker you contact an attorney,
the greater your chance of retaining or recovering the funds.
6) I am married but do not want to file with my spouse.
Do we have to file together?
Answer: No. Even if you are married there
is no requirement to file a joint case. However, relief from
debt is only granted by the bankruptcy process to the spouse
that files. If the non-filing spouse is a co-signer on any
of the debt they will still be responsible for the debt.
