Is
there life after bankruptcy?
Yes. You can get car loans, car leases, unsecured
credit cards, home loans (provided you have verifiable
income).
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What
is the time line of bankruptcy?
Chapter 7 usually takes 3 ½ months, with
one hearing about 35 days after filing.
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Do
I have to go to court and meet the judge?
No. In a Chapter 7, you go to an administrative hearing,
answer about 10 easy questions from a bankruptcy trustee,
and go home. An attorney from our office attends the
hearing with you.
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What
are the disadvantages of bankruptcy?
The bankruptcy reference stays on your credit report
for up to 10 years; you may be declined as tenant by
major management company landlords; you may be declined
for jobs requiring credit checks where you will be handling
money.
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Should
I file bankruptcy?
It depends. Key questions in deciding: How much money
do I owe? How long will it take to pay it back? Will
I be making more money in the next 2-5 years? Can I
get family or friends to contribute to paying the debt
back? How good is my credit now? Do I have enough money
now to pay for health and auto insurance, child care
and education, retirement, and other basic needs?
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Nothing
in this web site is to be construed as a guaranty, warranty,
or prediction about the outcome of your matter. The information
herein does not include legal advice for your specific situation.
Consult a qualified attorney for legal advice
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