Before pursuing bankruptcy, you should discuss your case with an experienced bankruptcy lawyer. Depending on your situation, bankruptcy may not be your best or only option.
Unsecured debts are stand-alone bills that aren't tied to any property. If you're eligible, Chapter 7 bankruptcy allows you to get those unsecured debts forgiven or "discharged."
Once you've filed for bankruptcy, creditors and bill collectors should leave you alone. If they don't, start by making sure they know you filed. If they persist, get your bankruptcy lawyer involved.
After you file for bankruptcy, the court will stamp your case with the words "relief ordered" and "stay in effect" — both of which tell creditors they need to stop contacting you.
Chapter 13 bankruptcy is a great option for people who are afraid they'll lose their car or home because it allows them to make controlled payments while keeping their property.
In most cases, you cannot use the bankruptcy process to eliminate unpaid taxes, student loans, or debts you've incurred from illegal activity. Some exceptions do apply.
Bankruptcy appears on a credit score for 10 years following the completion of the bankruptcy process. It's important to be strategic when it comes to choosing when and how you file.
Absolutely! Once you've filed for bankruptcy, you are protected on a federal level from creditor harassment and wage garnishment. If the creditor persists, you can even take steps to stop them.
Rebuilding your credit is a multi-layered process that starts with educating yourself on how credit works. Fortunately, we offer our clients a credit rebuilding class free of charge to help them succeed in this goal.
If you're filing for Chapter 7 bankruptcy, then liquidation will almost certainly be a vital part of the debt elimination process. An experienced bankruptcy attorney can help you decide if this option is right for you.