Bankruptcy Law FAQs

Can i pay you in installments?

Yes, we accept installments on a monthly basis.$200.00 is all you need to
get us retained!

Do i qualify for bankruptcy?

If you work in, live in or own property in the U.S.A. and have not received a Chapter 7 discharge within the past 8 years, or dismissed under certain grounds in the last 180 days from a previous bankruptcy case.

How much do I have to owe to qualify for bankruptcy filing?

Every case is different and there are no provisions or amount of debt a person must owe in order to file bankruptcy.

How does filing bankruptcy affect my credit rating?

Filing bankruptcy will impact your credit score. If you are considering bankruptcy your score is most likely already damaged and filing bankruptcy can be the first step in repairing your credit score.

How do I improve my credit rating after filing for bankruptcy?

There are a number of institutions that are willing to extend credit to you, if you are willing to pay a higher interest rate. As more time passes the less your bankruptcy history will negatively impact your credit rating.

How long is the bankruptcy process?

Chapter 7 takes approximately 5 months and Chapter 13 takes 3 to 5 years.

Can I keep my car?

Yes but you have to stay current on your car payments if there is an open loan. You may also be required to maintain full coverage insurance during the bankruptcy proceedings if the vehicle is not paid in full.

What is the difference between a secured debt/unsecured debt?

Secured debt is debt secured by property, such that if you do not pay the debt the creditor will repossess your property. Examples are house, property taxes, care notes including furniture or electronics payments.

Can anyone discriminate against me for filling bankruptcy?

It is against the law for anyone to discriminate against you for filling bankruptcy. It will not affect your civil rights or effect your eligibility for federal student loans/grants.

Will I lose my property?

In most cases you will not loose property. Bankruptcy codes allow certain exemptions which allow you to protect property that needs to be reorganized in order to get a fresh start.

Will I have to appear in court?

In most cases you will not have to appear in court, however you will be required to appear at a creditors meeting to meet the trustee appointed to administer your case. This is a simple routine meeting that will last about five minutes.

What is a foreclosure?

Foreclosure is a legal process where the lender holding the mortgage on real property takes possession of the property from the debtor. Foreclosure is a legal proceeding where the lender holding the mortgage on real property takes possession of the property from the debtor. Although each lender has its own policies and procedures, once a person becomes late on his or her mortgage payments, generally all past due amounts must be paid in full to bring the account current. Once you are behind more than one payment, you may need to pay all late payments at once. Foreclosures are held on the first Tuesday of every month by posting notice of the sale at the Courthouse twenty-one days prior to the foreclosure date. The lender must give the debtor notice of the sale by certified mail. Once the property has been posted for foreclosure the entire balance on the note is accelerated. This means that you must pay off the entire mortgage to stop the foreclosure unless the lender agrees otherwise or unless a bankruptcy proceeding is filed. The filing of a bankruptcy stops the foreclosure sale and gives the debtor additional time to catch up on payments.