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Frequently Asked Questions

These are some of the most common questions people having about filing bankruptcy. Click on each question to reveal the answer.

How will filing bankruptcy affect my credit?

Bankruptcy is typically no better or worse than having bad credit. A bankruptcy stays on your credit record for 7 to 10 years from the time of your discharge. Once your case is discharged, you can start rebuilding your credit.

Will bankruptcy stop foreclosure?

A bankruptcy filed prior to the foreclosure sale will, in most instances, stop the sale of your home. You should contact us as soon as possible prior to the foreclosure sale date so that we can best assist you in keeping your home.

Will bankruptcy stop a wage garnishment?

Filing bankruptcy will stop a garnishment. Please contact us immediately upon the freezing of your accounts or the garnishment of your wages to discuss you options.

I filed bankruptcy before. Can I file another bankruptcy?

In many instances, yes. There are several factors involved in determining if you can refile. You should advise us of any prior filings so that we can best help you figure out if refiling is an option for you.

Are student loans discharged in bankruptcy?

Student loans that are not paid back 100% survive the bankruptcy and are not discharged along with other unsecured debts. This means you will still be responsible for any unpaid portion, plus interest, after the discharge of your bankruptcy.

What is a secured debt?

A secured debt is a type of debt that you are obligated to pay that is attached to property, or collateral. For example, your home and your car are secured debts. Most secured debts are voluntary. However, there are some secured debts that involuntary, such as a mechanic's lien.

What is a priority debt?

A priority debt is a type of unsecured debt that is deemed more important than a typical unsecured debt and you are generally required to pay these amounts back in full. Examples of a priority debt would be IRS debts not greater than 4 years old or debts owed to other governmental agencies, such as child support obligations or an overpayment of social security benefits.

What is an unsecured debt?

An unsecured debt is a debt that is not secured to anything, such as a credit card or medical bill. For most people who file bankruptcy, this means you may only be required pennies on the dollar for the amounts you owe.

Can my homeowner's association dues be included in my bankruptcy?

Yes. Please contact us for more specific information regarding the options for this type of debt.