Q:
If I file for bankruptcy, should I keep secured property or should I surrender it?
A:
This is entirely dependent on your personal circumstances. There are ways to file bankruptcy and still keep your vehicle, your home, and your personal possessions. Talk with your attorney about how.
Q:
Is bankruptcy the solution?
A:
Bankruptcy is not right for everyone. However, Daniel Taylor Law can provide you with the information and the right strategy if you qualify and decide to move forward with bankruptcy. Many of my clients are hesitant to file bankruptcy because they have always been taught that they are responsible to pay their own debts. They have a sense of obligation. There is nothing wrong with feeling this way but keep in mind that bankruptcy is a legal process designed to help people like you who are struggling, whether by your own poor spending choices or from some unforeseen circumstances in your life. You deserve relief! Even my religious clients whose faith teaches forgiveness often feel like they don’t deserve forgiveness of their debts. I’ll say it again, you deserve relief!
Q:
Will bankruptcy stop garnishment on a judgment against me?
A:
Yes. The bankruptcy automatic stay acts to stop a garnishment against you (with the exception of ongoing domestic support obligations). Your attorney should help you send proper notice of your bankruptcy filing to the right parties to stop the garnishment. If a creditor continues to garnish your wages or continues to pursue you for a debt that has been included in your bankruptcy, you may be able to file an adversary complaint against that creditor for a violation of the automatic stay. Unlike Attorney Daniel Taylor, many bankruptcy attorneys are unwilling or unable to help you with these types of bankruptcy litigation matters. This is an important consideration when choosing which attorney to hire.
Q:
Do I have to file bankruptcy before my creditor gets a judgment?
A:
No. However, you should not wait to speak with your attorney because you could be subject to a garnishment, levy, foreclosure, or repossession.
Q:
What happens if I do nothing about the lawsuit complaint?
A:
If you don’t file an answer, you are likely to be subject to a default judgment. However, even if you have already received a judgment or have an ongoing wage garnishment, bankruptcy can provide relief.
Q:
Should I answer a lawsuit complaint if I've filed for bankruptcy?
A:
It depends. Your attorney should be strategic and help you decide whether or not an answer should be filed in another matter.
Q:
What effect will bankruptcy have on lawsuits?
A:
Bankruptcy provides relief! When a bankruptcy is filed, an automatic stay applies to stop the commencement or continuation of any lawsuit against an individual. There are certain exceptions where bankruptcy will not act as an automatic stay, such as criminal proceedings, child custody matters, or dissolution of marriage that doesn’t involve property of the bankruptcy estate. If you have been served with a lawsuit or are facing a judgment, wage garnishment, foreclosure, or repossession, call your attorney today! Bankruptcy
Q:
Is it possible to discharge child support or other family obligations through bankruptcy?
A:
Domestic support obligations are typically non-dischargeable in bankruptcy. However, a bankruptcy that structures repayments of past-due obligations might be right for you.
Q:
How much tax relief can I expect if I file bankruptcy?
A:
This will depend on your specific tax liability. Your attorney should be helping you develop a strategy tailored to your needs.
Q:
Can taxes can be discharged in bankruptcy?
A:
Yes, some taxes can be discharged in bankruptcy. This is very case-specific so it’s important to work with your attorney to come up with a good strategy regarding discharging your taxes. For example, your attorney might recommend that you wait a few months to file in order to maximize the amount of tax liability that can be discharged. Yes, you can plan ahead for bankruptcy!
Q:
What credit card debt strategies are available if I file for bankruptcy?
A:
Many people will open a secured credit card after filing for bankruptcy in order to reestablish good credit and get started off on the right foot.
Q:
Will all credit card debts be dischargeable in bankruptcy?
A:
Bankruptcy law requires that all debts be disclosed, including unsecured debts such as credit cards. It is very important to speak with your attorney about recent credit card use for cash advances or luxury items that could result in an objection to discharge from a creditor.
Q:
Will I be able to get credit after filing bankruptcy?
A:
Yes. Many lenders will offer credit soon after an individual has filed for bankruptcy. Why? First, because the newly acquired debt is incurred post-filing, it is non-dischargeable, meaning the lender will be paid back anything that the person borrows. Second, the individual has likely just discharged a significant amount of debt in bankruptcy and can now afford a small payment to a new creditor.
Q:
Can I discharge my student loans in a bankruptcy proceeding?
A:
Possibly. In order to determine whether student loans are dischargeable, a separate case called an Adversary Proceeding is filed. The Adversary Proceeding could result in a full discharge, partial discharge, or even a settlement with more favorable terms. This is a great topic of conversation to speak with your attorney about during your free consultation.
Q:
What is consumer credit counseling?
A:
Anyone who files for bankruptcy in Arizona is required to complete an approved credit-counseling course. There is a pre-filing requirement as well as a post-filing requirement. The pre-filing portion must be completed prior to the bankruptcy being filed. However, this shouldn’t be something for debtors to stress about. It can typically be completed online in ~1 hour. Your attorney will have recommendations for an approved credit counseling course.
Q:
Is it smart to keep my house if I'm filing for bankruptcy?
A:
Yes. Arizona is a great state to file bankruptcy in because Arizona law provides a homestead exemption (protection) of $150,000 of your home’s equity. There will always be exceptions to the rule based on your specific needs so it’s important to schedule a free consultation and discuss the best strategy with your attorney.
Q:
Can I keep my house through bankruptcy?
A:
Yes. Whether you are current or behind on your mortgage payments, there are ways to keep your home when filing bankruptcy.
Q:
Should I file for Bankruptcy?
A:
Deciding whether to file bankruptcy is a difficult decision but you should at least have all the information when making that decision. Do you qualify for bankruptcy? What will that look like for you and your family? How will it affect you going forward? These are all questions that can be answered specifically for you with a free bankruptcy consultation.
Q:
Do I need a Phoenix Bankruptcy Lawyer?
A:
Hiring an attorney is an extremely important decision. You want someone who will listen to your story and take the time to understand your specific situation. You want someone who will help you come up with the best strategy and plan for bankruptcy that provides you with relief and with the tools for success moving forward.