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FREQUENTLY ASKED QUESTIONS ABOUT BANKRUPTCY Bankruptcy is government supervised debt
relief. Bankruptcy normally eliminates some or all debts of a debtor. Read More.
.Who can file bankruptcy? Almost any qualifying
individual or business may file for some form of bankruptcy protection. Read More. How long does the bankruptcy process take? Chapter 7 bankruptcy normally takes 4 to 6
months to complete. Chapter 13
bankruptcy usually takes 3 to 5 years. Read More.
Will I lose everything that I own? Can
I keep my house? Typically
yes if you continue to make your
mortgage payments. With certain types of bankruptcies, under
certain conditions, one may catch up on missed payments and/or reduce loan amounts paid. Read More.
Can
I keep my car? Typically yes if you continue to make your car
loan payments. Read More Will filing
bankruptcy stop creditors’ telephone calls,
collection activities, and lawsuits? Generally, yes. Read More.
Will
bankruptcy stop
wage garnishments and bank levies?
Generally, yes. Read More. A bankruptcy
stays on your credit report for up to 10 years. But, immediately
after filing bankruptcy, you may take steps to rebuild credit and
improve your credit rating. Read More. Can I give tithes, offerings, and gifts to my church if I file for bankruptcy? Yes. Read More. Can I qualify to file bankruptcy under the new bankruptcy reform law? In most
cases, people who would have qualified to file bankruptcy under the old
pre-reform laws will also qualify under the new bankruptcy laws. Read More. Am I required to disclose all of my property and assets? Yes. But, in most bankruptcy cases, debtors are allowed
to keep all property and assets listed. Read More. Am I required to list all of my debts? Yes.
But you can voluntarily pay certain debts even though you list them.
But consult first with an attorney before doing so! Read More. May I voluntarily pay any of my debts after bankruptcy? Yes. Read More. What is a Meeting of Creditors? The meeting
of creditors occurs about 25 to 40 days after a
bankruptcy case is filed. Generally, the bankruptcy trustee briefly questions the debtor at the meeting. To receive a discharge of debts, a bankruptcy filer must attend the meeting. Read More.
What
is a bankruptcy discharge?
A bankruptcy discharge is a
court order. This order usually grants complete forgiveness
and elimination of all or certain debts to bankruptcy filers. Read More. Who is the bankruptcy trustee? When a person files a Chapter 7
or Chapter 13 bankruptcy case, the bankruptcy
court appoints a “Trustee” to administer the case. Read More. Does the Bible prohibit or condemn bankruptcy? I don't believe so. Read More. Will anybody know that I filed bankruptcy? Most people will not likely know that you filed bankruptcy. Most likely, the only people who will know that you filed bankruptcy will be your lawyer, your creditors, those permitted access to your credit report, court clerks, and the bankruptcy trustee. May one spouse file bankruptcy and not the other spouse? Yes. But depending on the circumstances, there may be potential benefits and/or risks in doing so. Generally, married couples file a joint bankruptcy petition together. Read More. Common Bankruptcy TermsCredit Counseling and Debtor Education Requirements Divorce and Bankruptcy Do I have to include my car and home debts in the bankruptcy? Foreclosure and Bankruptcy Fraud Related to Credit Card Use Homeowners Association (HOA) Dues / Fees and Bankruptcy How Many People File Bankruptcy? Listing Legal Claims and Lawsuits Tax Debts and Bankruptcy . What are Exemptions? What is a Lien? What is the Means Test? Where do you file bankruptcy? For a free and confidential consultation, contact Christian bankruptcy lawyer, Matthew B. Tozer. © 2010 Disclaimer Under
the new bankruptcy laws, Mr. Tozer is a debt relief agency because he
helps
people file for bankruptcy relief under the Bankruptcy Code.
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