Bankruptcy

Bankruptcy is an extremely complicated area of the law. Any decision to file bankruptcy should be made only after consultation with our experienced bankruptcy lawyers.

What is the difference between secured debt and unsecured debt?

There a two general types of debts, secured and unsecured. The treatment of secured debts and unsecured debts varies greatly in bankruptcy.

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Free Bankruptcy Consultation

Our bankruptcy lawyers offer an initial free bankruptcy consultation to discuss your bankruptcy filing options. During the consultation, our bankruptcy lawyers will make a full analysis of your financial situation to determine your best options for filing bankruptcy.

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Does filing bankruptcy stop repossession?

Filing chapter 13 bankruptcy will stop car repossession and allow you to resume normal payments on your car and pay the back car payments through the bankruptcy court. In some cases, a debtor can reduce car a car payment and restructure a car loan through the chapter 13 bankruptcy plan filed with the court.

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Does filing bankruptcy stop foreclosure?

Bankruptcy stops foreclosure instantly. From the moment a bankruptcy is filed by our bankruptcy lawyers, any attempt to collect a debt or other court proceeding, including foreclosure, is stopped by the bankruptcy court. By developing a repayment plan, our bankruptcy attorneys can successfully restructure payment of your late mortgage payments (called mortgage arrears).

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Do I need a copy of my credit report to file bankruptcy?

Bankruptcy laws require debtors to list all of their debts and assets on their bankruptcy petition. It may be helpful to have a copy of your credit report before you file bankruptcy, but getting a copy of your credit report before you file bankruptcy is not a requirement.

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What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is one of the many types of bankruptcy available to debtors under the United States Bankruptcy Code. Chapter 7 is designed for debtors in financial difficulty who do not have the ability to pay their existing debts. Debtors whose debts are primarily consumer debts are subject to a “means test” designed to determine whether the case should be permitted to proceed under chapter 7. If the income of the debtor is greater than the median income for the state of debtor’s state of residence and family size, in some cases, creditors have the right to file a motion requesting that the court dismiss your case under the bankruptcy law.

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What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is designed for individuals with regular income who would like to pay all or part of their debts in installments over a period of time. A chapter 13 bankruptcy can also help debtors restructure payments on secured debts like cars and furniture. Chapter 13 can also stop foreclosure and help homeowners pay back mortgage payments through the bankruptcy court while allowing the homeowner to pay future mortgage payments directly to their mortgage company.

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Can Social Security overpayments be discharged in bankruptcy?

Social Security overpayments are treated as unsecured debts and can be discharged in bankruptcy similar to credit card and medical debt eventhough they are debts owed to the government. However, if you have committed Social Security fraud, the Social Security Administration may object to your bankruptcy discharge and ask that the overpayment to Social Security be exempted from the debts that are discharged. If SSA believes you accepted payments to which you were not entitled and you knew that you should not be receiving the payments or had committed some other act of fraud on SSA, your Social Security overpayment may not be able to be discharged.

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Can I Still File Bankruptcy Under the New Bankruptcy Law?

The new bankruptcy law has certainly made filing bankruptcy more complicated and time consuming, but the bankruptcy lawyers at our office have adapted successfully to the changes in the new law are experts in the field. One of the most complicated parts of the new bankruptcy law is the bankruptcy means test. The bankruptcy means test is a mathematical calculation used to help determine whether or not a debtor will file a chapter 7 bankruptcy or chapter 13 bankruptcy.

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