Bankruptcy FAQ

One is only eligible for a Chapter 7 discharge every 8 years from the date of filing.

You are required to disclose all property interests you had and transfer made in the three years prior to filing.

College is not considered to be a reasonable and necessary household expense and cannot be made at the expense of your creditors.

No. You cannot claim you don’t have money to pay your creditors and then continue to contribute to your own savings account! Contact us now to inquire about our bankruptcy related legal services.

401k loan repayments are not allowed deductions from income in Chapter 7 cases.

Generally retirement savings are protected in bankruptcy, provided you made your contributions in the normal way.

You’re not serious are you?! Of course not. Your house serves as collateral to secure payment of your mortgage loan. If you don’t pay, the mortgage company can foreclose. If you have more than one mortgage and there is not enough equity in the house to secure full repayment of the first mortgage, then the … Read more

In most cases, your lawyer should be able to guide you to a sensible resolution and avoid a trial.

You can protect a co-signor by filing under Chapter 13. That way, your unsecured creditors are treated equally in your repayment Plan…

Generally no, but there are exceptions. For instance, if you have filed your income tax return, owe taxes and haven’t heard from the IRS regarding your tax debt for more than three years, this debt may be dischargeable. Contact us now to inquire about our bankruptcy related legal services.