Will bankruptcy stop Lawsuits and Judgments?

Yes. Filing bankruptcy provides you the protection you need to stop collection attempts. Your creditors may file a lawsuit against you giving them the ability get a judgment against you. This judgment can allow garnishment of your paychecks, bank accounts or repossess your vehicles.
Contact our office to schedule a risk free consultation with one of our Board Certified Attorneys and get more information on how to stop your lawsuit or judgment.

Will bankruptcy stop creditors from garnishing my paycheck and bank accounts?

Yes. Filing bankruptcy provides you with protection from further action by creditors. Creditors can no longer contact you. They cannot attempt to collect debts, garnish paychecks or bank accounts, send threatening mail, or call to harass you. It all stops.
Contact our office to schedule a risk free consultation with one of our attorneys and get more information on how to stop collection actions.

What does the Automatic Stay do?

Prevents your creditors from further collection actions. The Automatic Stay is the protection you receive under the Bankruptcy Code once you file a bankruptcy. The Automatic Stay acts like a "blanket" of protection from creditors' collection actions.
Contact our office to schedule a risk free consultation and get more information on filing bankruptcy.

What does Discharge refer to?

A Bankruptcy Discharge erases your debt. When the bankruptcy completes, you obtain your Discharge Order, which erases all your debts, which are subject to discharge. These debts are eliminated and those creditors cannot take further collection actions against you.
Contact our office to schedule a risk free consultation and get more information on how to get your debts discharged.

Will I lose my house or car?

In many cases you are still able to keep your home and car when you file a bankruptcy. Each situation is different. Typically, if you are current on payments to your house and/or vehicle, you are able to retain the property and continue to make the payments. Alternatively, a bankruptcy proceeding is also an effective way to surrender or give the property back to the creditor if you no longer wish to retain it. If you do give back a home or a car, you are protected from any potential deficiency balance.
Further, if you are behind on payments to a house or vehicle, you may have the option to file a Chapter 13 Bankruptcy proceeding to repay the debts over time.
Contact our office to schedule a risk free consultation and have one of our attorneys assist you in available options regarding your home or vehicle.

Can I keep my 401K?

Yes. Most qualified retirement plans are exempted and protected in bankruptcy. Taking distributions from these accounts can create additional tax liability.
If you are thinking of getting a retirement loan to pay off your debt to avoid bankruptcy, contact us first and speak with one of our Board Certified Attorneys to help counsel you on your best options.

Do I make too much money for a bankruptcy?

It is nearly impossible to earn too much money for all types bankruptcy, however the level of income your household earns determines which bankruptcy for which you qualify. There are special exceptions for business debts, which are very favorable. The link below illustrates the current levels of income for each household size.

Even if you exceed levels for your household size, our office will work with you to complete the qualifier form and subtract your expenses. We specialize in the analysis of the issues and can discuss financial circumstances which allow you to qualify for one bankruptcy or another which cannot be determined until your expenses are considered.

Justice Department

When do I need to file?

There are no absolute deadlines to file a bankruptcy proceeding unless you have a foreclosure sale pending and you would like to stop the sale. A bankruptcy must be filed prior to a foreclosure sale to cancel a sale.
Contact our office to schedule a risk free consultation.

What is the 341 meeting and what should I expect?

The 341 meeting is a meeting by your appointed Bankruptcy Trustee. The Bankruptcy Trustee is a Court administrator assigned to each case to review the pleadings for accuracy. You are sworn in and asked questions regarding the paperwork you reviewed and signed with the attorney. You should bring your Social Security Card and driver's license to this meeting.

Contact our office to schedule a risk free consultation.

How do I rebuild my credit?

When your bankruptcy is closed, you can start to rebuild your credit by:

  • maintaining steady employment;
  • continuing to pay bills on time, including utilities;
  • keeping a good relationship with the bank,
  • paying timely rent, house payments;
  • not letting insurance lapse.

Also check out this site, www.myhorizontoday.com/rebuild for additional help on rebuilding credit and fixing your credit report after bankruptcy.
Contact our office to schedule a risk free consultation and get more information on the steps to getting your credit repaired through bankruptcy.