Los Angeles Bankruptcy Attorney
Frequently Asked Questions
Can bankruptcy be filed more than once?
You can file for Chapter 7 bankruptcy following a six year period having has passed from the date of your last filing. A Chapter 13 bankruptcy can be filed at any time.
What debt will bankruptcy not erase?
- money owed for child support or alimony, fines, and some taxes;
- debts not listed on your bankruptcy petition;
- debts resulting from "willful and malicious" harm;
- student loans with a few exceptions;
- mortgages and other liens which are not paid in the bankruptcy case.
Can filing bankruptcy stop bill collectors from calling?
Yes. The filing automatically prevents them from continuing any collection actions.
Will I have to go to court?
In most bankruptcy cases, you only have to go to a proceeding called the "meeting of creditors" or Trustee Hearing to meet with the bankruptcy trustee and any creditor who chooses to come.
Can I keep my home and/or car after I file bankruptcy?
There are many specifics that need to be answered to determine this fully. In some cases, you may be able to keep your home. Your car should be able to be exempt from the bankruptcy.
Will filing bankruptcy affect my credit?
Likely yes, although if you were already behind on your bills, your credit was already affected. The fact that you have filed a bankruptcy will appear on your credit record for ten years. But since your bills will be discharged, you may be able to get new credit. There are ways to begin rebuilding your credit that an Attorney at Pacific Attorney Group can recommend for you.
My house is in foreclosure. Is there anything I can do?
There are several ways in which a bankruptcy attorney from Pacific Attorney Group can help to prevent your home from going into foreclosure. Some of the options available to you are a bankruptcy, a short sale, or a loan modification. If your wish to remain in your home, we can help you work towards a solution that will allow that to occur.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 bankruptcy sells a person's assets as covered under Chapter 7 and distributes the cash from the sale in order to pay off creditors. With a Chapter 13 bankruptcy, all of the unpaid debts are basically consolidated into one lump sum, which the individual will pay off over the course of three to five years. Certain assets can be kept under this type of bankruptcy.