What Are the Negative Consequences of Filing for Bankruptcy? Filing for bankruptcy protection is seen as a declaration of your capacity to repay your creditors. The fact that you filed for bankruptcy and were granted protection will appear on your credit report for up to ten years. Additional things to consider while considering the disadvantages […]
Category Archives: Guides
Should I look for a cheap bankruptcy attorney?
Should I look for a cheap bankruptcy attorney? Many people begin their search for bankruptcy information looking for an inexpensive way to file a cheap bankruptcy. They ask “How can I afford to pay a bankruptcy attorney when I’m already overwhelmed with bills?” Read on to find out the cheapest ways to file bankruptcy and then […]
Top 50 Bankruptcy Questions You Should Ask
Top 50 Bankruptcy Questions: Can I file bankruptcy? Can I keep my house and car? How much does it cost to file for bankruptcy? What is chapter 7 bankruptcy? How do I file for bankruptcy? The top 50 questions I received as a bankruptcy attorney are listed below. You can learn the answers to a […]
Declare Bankruptcy
Filing Bankruptcy The process of filing bankruptcy can be drastically simplified by hiring a local, qualified bankruptcy lawyer. There are many rules related to the federal bankruptcy code that makes trying to file bankruptcy yourself extremely difficult. For example, each state has its own long list of bankruptcy exemptions, and the courtroom meetings can sometimes be difficult […]
How Soon After My Bankruptcy Can I Get Credit For A New House Or Car?
You can start applying for new credit immediately after your case is discharged; however, it is likely that you will be required to pay higher interest rates on credit you obtain immediately after a bankruptcy. Although you may be able to obtain a mortgage as soon as one day after a bankruptcy, industry experts recommend […]
Will Bankruptcy Wipe Out All of My Debts?
Bankruptcy eliminates most, but not all, debts. Many major debts, including credit card debt, medical bills, broken leases, utility bills, repossessions, payday loans, and unsecured failed business debts, can usually be eliminated in bankruptcy. Certain other debts that cannot always be eliminated are criminal debts, some tax debts, student loans, back alimony, child support payments, […]
How Often Can I File For Bankruptcy?
You cannot receive a discharge in a Chapter 7 case if you received a discharge in either (a) a chapter 7 bankruptcy filed within the last 8 years, or (b) a Chapter 13 bankruptcy filed within the last 6 years. You cannot obtain a discharge in a Chapter 13 case if you either (a) obtain […]
How Will The New Bankruptcy Laws Affect Me?
The new bankruptcy laws affect all bankruptcies filed, but recent studies show that approximately 80% of past filers would still qualify to file under the new bankruptcy laws and would be eligible to eliminate substantially the same debts as before. The major changes include the addition of an income-based means test, and credit counseling, and […]
Can I Keep My House and Car?
In most cases, you do not lose any of your possessions when you file bankruptcy, including your house or car. In fact, a Chapter 13 bankruptcy is designed to help save assets such as your house or car if you are facing foreclosure or repossession. As you did prior to filing bankruptcy, you continue to […]
Medical Bankruptcies
What is Medical Bankruptcy and How Does It Work? The Bankruptcy Code does not cover medical bankruptcy. Therefore, the federal government does not provide it as a particular kind of bankruptcy relief. Instead, medical bankruptcy is the phrase used to characterize bankruptcy brought on by medical debt. Astronomically expensive medical expenses burden many Americans as […]