BANKRUPTCY Q & A |
| Who Can File Bankruptcy? Any person 18 years or older may file bankruptcy, regardless of their citizenship status. Married couples may file jointly or individually. If I previously filed for bankruptcy, how soon can I receive another bankruptcy discharge? It depends upon the chapter number of the prior bankruptcy case, the chapter number of the current bankruptcy case, and the number of years that elapsed between the date that a prior bankruptcy case was filed and the date that the current bankruptcy case was filed. If prior bankruptcy was a Chapter 7, and the current bankruptcy is a Chapter 7, must wait 8 years after date that the prior bankruptcy case was filed. If prior bankruptcy was a Chapter 7, and the current bankruptcy is a Chapter 13, must wait 4 years after date that prior bankruptcy case was filed. If the prior bankruptcy was a Chapter 13, and the current bankruptcy is a Chapter 7, it will depend on the percentage of claims that were paid in the prior Chapter 13 bankruptcy. Finally, if the prior bankruptcy was a Chapter 13, and the current bankruptcy is a Chapter 13, must wait 2 years after date that the prior bankruptcy case was filed. What are the Court filing fees? Chapter 7 Petition = $299.00. Chapter 13 Petition = $274.00. Will My Creditors Stop Harassing Me? Once you file a bankruptcy petition, an automatic stay against all creditors will immediately go into effect. The automatic stay should stop creditors from contacting you about your debts — and punishes those who continue to harass you. Although the automatic stay goes into effect only once your petition is filed with the bankruptcy court, once you have retained our services, you can refer all your creditors to our office and they will no longer be able to contact you once we verify our representation. Will Filing a Bankruptcy Stop My Foreclosure Sale? The automatic stay serves to stop, or put a hold on, all legal actions and proceedings that a debtor is facing. This includes a foreclosure proceeding. The length of time that the foreclosure will be stopped for varies by the chapter of bankruptcy you are filing. Will I Be Able to Keep My Credit Cards? The credit card company is the final authority on whether you will be able to keep a particular credit card. All cards with outstanding balances must be included in the bankruptcy, while the company may decide that a card with zero balance can be used moving forward. How can I keep Particular Debts? You can choose to keep certain personal property (such as an automobile) by entering into a Reaffirmation Agreement that must then be approved by the court. A Reaffirmation Agreement turns a debt that would be discharged into a debt that will not be discharged. Will filing for bankruptcy ruin my credit? A bankruptcy will appear on your credit report for 10 years. However, many credit card companies may offer you a new card right after you receive your bankruptcy discharge because you are actually more secure than a similarly situated individual who can file bankruptcy within the next 8 years. In most cases, you can rebuild your credit in a couple years. What Documents Should I Bring With Me to My Initial Consultation? We recommend that you bring as much of the following information as possible to your initial intake: PROOF OF INCOME: Please provide pay stubs and income from all sources (tax refunds, 401K withdrawals, etc.) for the past 2 months. W2'S OR TAX RETURNS: If currently employed, please provide past 2 years of W2's; if currently self-employed, please provide past 2 years of tax returns. UNSECURED DEBTS: Please bring a list of your creditors, account numbers, and the amount of your debt. MORTGAGE AND AUTO CONTRACTS, if any GENERAL IDEA/WORKSHEET OF HOUSEHOLD EXPENSES For more information regarding bankruptcy and its effects, please contact the Stone Haven Law Group today. |
We are a federally designated Debt Relief Agency under the United States Bankruptcy Laws. We assist people with finding solutions to their debt problems, including filing petitions for relief under the Bankruptcy Code.
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Stone Haven Law Group, LLC : 9121 Haven Ave. Suite 250 - Rancho Cucamonga, CA 92730 | Toll Free: [8773017005]