Bankruptcy will help improve your credit if it is already bad. Bankruptcy does not reduce your credit score as much as does being 90 days late on a payment. If you are deep in debt and struggling to pay, your income-to-debt ratio is probably so bad that no-one would extend you credit anyway. If you … Read moreHow will filing bankruptcy effect my credit?
In most cases it makes sense to give up the card and wipe out the debt. There are better ways to rebuild your credit and maintain access to emergency credit. Your lawyer can explain how. If you have a credit card with a small balance, you may be able to keep it and continue to … Read moreCan I keep my credit cards if I file for Bankruptcy?
A reaffirmation agreement is an agreement you sign confirming that you wish to keep the asset, that you will continue to make the payments. The effect is that the subject debt will not be wiped out in your bankruptcy case. If you do not reaffirm, you will no longer be liable for the debt to … Read moreWhat is a Reaffirmation Agreement?
You cannot pick and choose what to include in your bankruptcy. But don’t be confused. While you need to fully disclose all your assets, all your creditors, and other information required under the bankruptcy laws, that does not necessarily mean you won’t be able to keep them. In most Chapter 7 cases, there is no … Read moreCan I keep specific debts out of my bankruptcy?
As a general rule, provided you are current with your house and car payments, you can keep them even if you file bankruptcy, as long as you don’t have unprotected equity in such assets. Once you file for bankruptcy relief, all your assets vest in the bankruptcy estate. What you may keep depends on whether … Read moreCan I keep my home or car if I file for bankruptcy?
Consulting with an experienced bankruptcy professional is the first step to determining what really needs to be done. Then, you will be able to make an informed decision and enjoy the benefit of being guided by someone who understands your needs and concerns. Ignorance may be bliss in certain instances, but in the case of … Read moreWhat should I look for in a Bankruptcy Attorney?
First, the court could deny you a discharge or your bankruptcy could be revoked. Second, you could be fined or even receive jail time for committing bankruptcy fraud. Third, under the rules of estoppel, if you don’t disclose your claim in your petition, you will be deemed to have waived it. So, in effect, your … Read moreWhat if I don’t disclose my Personal Injury Claim when filing for bankruptcy?
An inheritance is not a protected asset. In fact, if you inherit anything in the 180 day period after filing your petition, that fact has to be reported to the bankruptcy trustee and your lawyer and the asset turned over to the bankruptcy estate, – subject to any exemptions you may be able to claim. … Read moreAre inheritances or lottery winnings protected in Bankruptcy?
You cannot stop legal action until your petition is filed. If at least $600 was garnished within the 90 days prior to filing, all the garnished funds may be recovered, – if the issue is handled correctly. Contact us now to inquire about our bankruptcy related legal services.
You are entitled to keep up to $12,000 worth of stuff, whether it is equity in your home, car, money in the bank, personal property, and so forth. Depending on the amount of your available exemptions, you can exempt all or a portion of your refund from the bankruptcy estate. Contact us now to inquire … Read moreIs my tax refund exempt if I file for bankruptcy?