FAQ's
How will bankruptcy effect my credit?
Credit reporting companies list your bankruptcy for ten years. Notwithstanding, most people are able to obtain credit and borrow money much sooner than this.
Does my spouse have to file bankruptcy with me?
No.
Should I gift property to family members or friends before I file?
No. Such transfers might be considered fraudulent.
Do I have to list all my creditors?
Yes. There is no such thing as a "medical bankruptcy". If you are afraid of losing medical services if you list your doctor or clinic, we will advise you as to what you can do.
Do I have to list all of my assets?
Yes.
Will filing bankruptcy prevent debt collectors from harassing me?
Yes. Immediately upon filing and automatic stay (injunction) goes into effect preventing creditors from contacting you in any manner without court authority.
Can I keep my house and car?
Yes. If these items are subject to a mortgage or other type lien, you will have to keep making payments to the lien holder to keep the property.