Can You Stop the Harassing Phone Calls From Creditors?
Will I be able to Keep my House?
Can I Keep My Vehicle(s)?
Will I be able to Keep Other Property?
Will I Lose My Retirement Savings?
Is it Too Late to File Bankruptcy if There's a Judgment Against Me?
Will I be Able to Get Credit Again?
Can You Stop the Harassing Phone Calls From Creditors?
An "automatic stay" goes into effect the moment your bankruptcy petition is filed. Once your bankruptcy petition is filed, creditors must stop contact with you and stop all legal actions.
Will I be able to Keep my House?
The "automatic stay" protects you from foreclosure of your house during the time your bankruptcy case is open. The law allows each individual to keep a certain amount of equity in their personal residence. If your home equity does not exceed the allowed exemption, you should be able to keep your home in a Chapter 7 Bankruptcy, as long as you are current on your house payments both at the time of filing and going forward. If your equity exceeds the allowed exemption or if you are behind in your payments, a Chapter 13 Bankruptcy might allow you to save your home.
Can I Keep My Vehicle(s)?
The law provides an exemption for some equity in a motor vehicle. If your equity exceeds the applicable exemption, other exemptions might allow you to protect more of your vehicle equity.
Will I be able to Keep Other Property?
California law provides exemptions to protect certain property from your creditors when filing bankruptcy. We will help you protect your property using the available exemptions.
Will I Lose My Retirement Savings?
Most retirement savings plans and IRAs are fully protected in bankruptcy. We can help you determine whether your specific retirement account will be protected.
Is it Too Late to File Bankruptcy if There's a Judgment Against Me?
It's almost never too late to file bankruptcy. Assuming that it is a "dischargeable debt" (one that is not incurred through fraud, domestic support obligation, or other that is specifically excluded from discharge), you can eliminate the debt even if a creditor has filed a lawsuit against you and obtained a judgment.
Will I be Able to Get Credit Again?
A bankruptcy can actually clean up your credit report to show zero balances owed to your unsecured creditors and may reflect better than repossessions, foreclosures or late payments. A bankruptcy will typically improve your debt-to-income-ratio. Although a bankruptcy can remain on your credit report for up to 10 years, most people resume credit activities immediately after receiving their discharge. The interest rates may not be the best, and some waiting periods may apply.