Bankruptcy FAQ

You need to bring your most-recent pay stub, a list of your debt (or have a general idea), any lawsuit/garnishment information, and a list of any questions that you have for your first appointment with a bankruptcy lawyer. 

You can only receive a discharge once every eight (8) years, meaning you can only file Chapter 7 once every eight (8) years. However, if the need for a bankruptcy arises again, you may file a Chapter 13 instead of a Chapter 7. This matter should be discussed with your lawyer. 

Yes, you can. If you file a Chapter 7 or 13 bankruptcy and you are current on your house payment, in most instances, you can keep your house. If you are behind on your house payment and want to keep your house, you can file a Chapter 13 bankruptcy which allows you to keep your house, pay the regular monthly payment and gradually catch up on the past due payments. Your bankruptcy attorney will determine which bankruptcy you are eligible to file. 

If you want to keep your house or car, yes, you will have to make those payments. Some restructuring or modifying can be done in a Chapter 13 bankruptcy, but not in a Chapter 7. 

Not in most cases. An exception would be if you were planning to wait many months before filing bankruptcy. You also want to keep paying debts like a mortgage or car payment.

The spouse will only need to file with you if the debts are joint or if the spouse has enough separate debt.

No, you do not have to be behind in payments in order to file for bankruptcy.

Your bankruptcy will likely remain on your credit report for ten years. However, some lenders will consider extending you credit much sooner if you are diligent about rebuilding your credit. Several months after your bankruptcy is completed, you may want to get a copy of your credit report. You want to make sure that the debts you discharged in your bankruptcy are listed correctly. Your bankruptcy lawyer has no control over how debts are reported on a credit report. It is up to the creditor you owe to report that the debt was discharged in bankruptcy. If a debt is reported incorrectly, it is your responsibility to dispute it with the credit reporting agency.

If you are behind on your house payments and want to keep your house, schedule a free consultation with a bankruptcy attorney as soon as possible. If you have a Sheriff’s Sale scheduled and you want to keep your real estate, your bankruptcy MUST be filed before the Sheriff’s Sale. 

Yes. Our office has no control over whether or not a bankruptcy will be reported in the newspaper. By law, the filing of a bankruptcy is considered public record.