Most people have very specific questions or concerns when they initially contact us:

Q:  I just got served with a Law Suit (or Garnishment Notice)  will the Bankruptcy stop this.
A:  Yes, a Chapter 7 Bankruptcy filing will normally stop all collection action against you, including Civil Law Suits and garnishments.  (IRS and State  garnishments may be handled differently depending on the nature of the garnishment)

Q: Am I going to lose my personal property as a result of the Bankruptcy filing.
A: Generally speaking the Bankruptcy Court is not interested in taking away items that you need to live and work.  So normally they are not going to take items of average value like cars, furniture, jewelry, tools for work or most other normal household items. Remember that Bankruptcy is a Federal Law procedure, but it is State Law that lays out what the exemptions are for personal property and real estate.   Your personal property is generally valued at (garage sale or Craigslist value).  Car values would be the “blue book” value minus any loans against the vehicle.  You can get an idea of the value of your vehicle at nada.com or kbb.com. 

Please refer to the  following  reference for an explanation of exemptions.
Exemption Explanations

Q:  I filed Bankruptcy in the past, can I file again.
A:  Generally, if you previously filed a Chapter 7 Bankruptcy, and that Chapter 7 Bankruptcy was completed and discharged by the Court, then  it should  be 8 years from the  filing date of the previous Bankruptcy to the filing date of the new Chapter 7 Bankruptcy.  If the previous Bankruptcy was a Chapter 13 Plan or the previous Bankruptcy was not completed,  then the time limit can be less  than 8 years between that Bankruptcy filing and filing a new Chapter 7 Bankruptcy case.

Q:  What debts cannot be discharged in a Chapter 7 Bankruptcy?
A:  Only the Bankruptcy Court can decide what debts or obligations will or will not be discharged, but in very general terms you normally cannot discharge: Child Support Obligations, Student Loan Obligations, Fines and Restitution, and State and Federal Taxes accrued within the last 3 years.  This is only meant to be a very general guideline and is totally subject to the ruling of the Court.
Normally, what is dischargeable would include Credit Card Debt, Medical Bills, Cash Advance Loans, Pay Day Loans, Debt left over from vehicle repossessions and  home foreclosures, debt resulting from County Court Law Suits, Garnishments,  unsecured  loans from lenders and personal loans, deficiencies from landlords, old utility bills  and many other types of debt.

Q:  I have a loan on my car, will I be able to keep my car even though I am filing Bankruptcy?
A:  Generally, the Court is not interested in taking your car away, but there is a procedure where the Judge can decide whether your current car payment is too high based on your budget and other considerations.  We can discuss in general terms how this procedure normally works.    Generally, the lender on your vehicle is going to want you to be current on your vehicle payment if you choose to keep the vehicle through the Bankruptcy.

Q:  I am afraid to give up my current vehicle but  I don’t really want to keep  it: because I owe too much on it, or my payment is too high, or it isn’t a good vehicle, but I’m afraid that I can’t buy another vehicle due to the Bankruptcy.  Is it possible to buy another vehicle during the Bankruptcy?
A:  Interestingly enough,  there are a number of very reputable car dealers who will sell you a newer vehicle with a reasonable payment while you are still in the Bankruptcy process.  You need to have enough income to qualify for the new payment and meet their guidelines.  We can direct you to a reputable dealer to see if you can get another  vehicle, there is no charge for this service.

Q:  My home is in foreclosure, will the Bankruptcy stop the foreclosure?
A:  Foreclosures are conducted by the Public Trustee of the County that you live in.  If you file for Bankruptcy and send the notice of the Bankruptcy Filing to the Public Trustee, normally they will immediately stop the Foreclosure Sale until the Lender who asked for the foreclosure goes to the Bankruptcy Court and gets permission from the Court to continue with the foreclosure sale.    Getting permission from the Bankruptcy Court normally takes about a month.

Q:  Can I discharge debt from my small company as part of my personal Bankruptcy?
A:  Generally speaking, if your small company is a sole proprietorship or LLC where you are personally liable for all of it’s debt, you can include that debt as part of your personal Bankruptcy.   Normally this cannot be done if the company is a Corporation  and you should speak to an Attorney in situations that involve Corporation debt.

*Bankruptcy Petitions prepared by this company are filed with the Court within the guidelines and rules of the Court pursuant to USC 11, Section 110.

*Only the Federal Bankruptcy Judge assigned to your Case can make the final determination of what debts will be discharged.

*We are not Attorneys and cannot give you legal advice. Download the official notice