Bankruptcy FAQ

Bankruptcy Frequently Asked Questions

If you're in need of legal expertise, you've come to the right place. At some point during our lives, many of us experience this situation and when you do you want legal services you can trust to help you through the process smoothly, Arnold Law Offices can help! 

Bankruptcy Attorney to help you!

If you are facing financial difficulty acting quickly and hiring the right attorney to present your case is of the utmost importance.  We understand you may have some questions, which is why we have provided some Frequently Asked Questions for your convenience.

What is Bankruptcy?

Chapter 7 - Is liquidation of your debt. This bankruptcy can eliminate all your unsecured debt, such as, credit cards, signature loans, payday loans, deficiency balances on repossessions and foreclosures and medical bills. You may keep your home and your car as long as you are current and can continue to make your regular monthly payments.
Purpose of Chapter 7: One of the primary purposes of bankruptcy is to discharge certain debts to give an honest individual debtor a "fresh start." The debtor has no liability for discharged debts. In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. 11 U.S.C. § 727(a)(1). Although an individual chapter 7 case usually results in a discharge of debts, the right to a discharge is not absolute, and some types of debts are not discharged. Moreover, a bankruptcy discharge does not extinguish a lien on property.

Chapter 13 - Also known as “Debtor’s Court”. Is a reorganization of your debt. This bankruptcy allows you to keep your home and/or car if you are behind on your payments.

How much does it cost to file bankruptcy?

Since every case is different, it's not possible to quote a fee over the phone or internet but if you give us a call, we will be happy to set up an appointment to discuss this with you in person. We do everything we can to assist every client that walks into our office and we do everything we can to make this financially possible, including setting up payment plans for our clients.  

Will my creditors leave me alone once I file for bankruptcy?

Yes, once you file for bankruptcy, the creditors will not call you, email you, send letters or contact you in any way. This includes friends and family members. Any attempts at collection will stop immediately. Once the creditors have received notice of your bankruptcy, they will be required by law to go through your attorney. If a creditor continues to harass you, you could have a legal claim against the creditor.

Can I keep any of my possessions?

Yes, there is some leniency on certain property. Our goal is to ensure that you are getting the most out of the exemptions allowed by law.

Will everyone know that I filed bankruptcy?

No, at Jared B Arnold Law Offices, we take every precaution to ensure your privacy.

Does filing bankruptcy destroy my credit?

Since most people have already damaged their credit before having to file for bankruptcy, the filing itself usually does not damage a person's credit much more. In some cases, filing bankruptcy can actually help to increase a person's credit score.

Can you get rid of credit card debt?

Yes, contact us for more information in regards to your credit card debt.

Can I keep my car and my house and not pay for them?

No, give us a call to discuss what options you have to keep your house and/or car.

Can I keep my house and car if I am current?

Yes, give us a call and we can show you how.

How long will a bankruptcy stay on my credit?

10 years

How long between Chapter 7 filings do I have to wait?

8 years from the date you file.

Do I have to pay all fees in full before my Chapter 7 can be filed?

Yes but you can make payments.

Can you stop a garnishment with a bankruptcy?

Yes, don't hesitate, give us a call today to discuss your specific needs.

Do I have to pay all fees in full before my Chapter 13 bankruptcy can be filed?

No, your attorney fees and court costs are usually paid through your Chapter 13 bankruptcy plan.

Do I have to go to court?

Yes, most bankruptcy clients are expected to attend at least one hearing. It is very rare that a client have to attend more than that.

Can I just bring my credit report to you?

No, the creditors listed on your credit report must be listed on the bankruptcy packet you get from our office.

Do I have to have an appointment to see an attorney?

Yes, we do not accept walk-in appointments so call today to schedule your free consultation.

Can I get my car back after it has been repossessed?

No, give us a call to discuss your specific needs.

Can I get rid of back child support?

No, this can be paid through a Chapter 13 though.

Can I get rid of student loans?

No, under the Federal Bankruptcy Code you cannot get rid of student loans however, bankruptcy may be able to make paying back a student loan much more manageable by paying the debts back through a Chapter 13 bankruptcy.  

Do I have to list everybody I owe?

Yes, Federal Law requires you to list ALL your creditors. You can't pick & choose.

Can I stop my home from being foreclosed on?

Yes, contact us today so we can discuss your homes foreclosure and assist.
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