Frequently Asked Questions
1. How much does a bankruptcy cost?
We charge a flat fee of $1,500.00 including the court filing fee
2. Can I keep my vehicles if I file bankruptcy?
Yes. If you are behind on payments a bankruptcy will allow you to keep the vehicles and reorganize your payments.
3. What is a reaffirmation agreement?
A reaffirmation agreement is a new agreement to pay the debt. Oftentimes, clients like to do reaffirmations on vehicles, saving money by paying back what the vehicle is worth as opposed to what is owed.
4. What can I expect at bankruptcy court?
The bankruptcy process is quite informal. You will be asked a series of yes or no questions verifying that the information you have provided is correct. It will take approximately 10 to 15 minutes for your hearing.
5. If I'm married and want to file, does my spouse have to file too?
No. Married people can file without the other spouse.
6. How does a bankruptcy affect my credit?
Not as badly as you may think. Typically, by the time people are considering bankruptcy, they have fallen behind on their bills. The bankruptcy will allow you to discharge your debts, which will improve your debt to income ratio. This can improve your credit in the long term.
7. Can taxes be discharged in bankruptcy?
Sometimes. There are several qualifications to discharge taxes. Taxes would have to be at least 3 years old and filed in order to be discharged.
8. How are co-signers affected by my bankruptcy filing?
Co-signers would be obligated to pay the balance on the debts to which they were co-signed. If at a later date, you want to pay these yourself you can do that, however, your obligation to pay them is relieved.
9. Can I include lawsuits and judgments in my bankruptcy filing?
Yes you can. Lawsuits and judgments from the credit cards or past due medical bills are dischargeable in a chapter 7 or a chapter 13.
10. What can I do if creditors are harassing me?
Once retained, you can forward all of your creditor calls to our office. Some may still contact you, but we will let them know you are represented by counsel, and they should cease all contact with you.
11. How soon after filing a bankruptcy can I get approved for a home/vehicle loan?
We have had clients approved for vehicles within months of their discharge. There are several lenders who will approve home loans days after discharge.
12. How long will a bankruptcy stay on my credit?
10 years, though you will be able to get approval for credit soon after a discharge. I recommend this to re-build your credit.
13. Will bankruptcy discharge my student loans?
With rare exceptions, student loans are non-dischargeable.
14. What kinds of debts are non-dischargeable?
Student loans, certain types of taxes, debts for fraud are a few of the debts that are non-dischargeable in bankruptcy. Also debts incurred for intentional torts, such as assault and battery. This list is not exhaustive, but just a few examples.
15. Can you stop a wage garnishment by filing a bankruptcy?
Yes. It is one of the most popular reasons for filing a chapter 7 bankruptcy. You can also stop a repossession or foreclosure through a bankruptcy.
16. What should I bring for my initial consultation?
Please bring an accurate pay stub, your 2 most recent tax returns, your driver's license or ID card and social security card. And any lawsuits or wage garnishments if you have them.
17. How quickly can a foreclosure be stopped?
Foreclosures can be stopped as quickly as an hour after a consultation, although we do not recommend waiting that long into the process of the foreclosure before taking any action.
LEGAL DISCLAIMER/TERMS OF USE: The information at this web site is for advertising and general information purposes. This information is not intended to be legal advice for you to rely on nor does your use of this site create an attorney client relationship. We recommend you contact the firm for specific questions.