Bankruptcy Information and FAQs

Bankruptcy information prepared by a Los Angeles bankruptcy attorney helps those who feel that their debt is overwhelming them. For those considering bankruptcy, it helps to make sense and understand how this all works before contacting a bankruptcy lawyer.

Below are some bankruptcy FAQs. However, before you get there, you’ll want to review the “Should I File Bankruptcy” page, that addresses some of the feelings of guilt or other issues you’re likely dealing with in this struggle.

Q – Will I be able to re-establish credit after I file bankruptcy?
A – Yes, to the surprise of many. You’ll find that the credit card applications start arriving within 6 months. BE CAREFUL and only take on what you can afford. You will have a fresh start with your debt. Don’t blow it, because you cannot file BK again for many years. For more, see our article: Credit after Bankruptcy.

Q – Can I keep my home in a bankruptcy?
A – Maybe. Especially with the new California homestead exemption.

Q – That reminds me – I’ve filed bankruptcy before. Can I file again?
A – Yes, it just depends when. Chapter 7 bankruptcy requires you wait 8 years between filings. There are fewer restrictions on Chapter 13 bankruptcy so you may not have to wait as long.

We don’t give tax advice, but

Q – Do I have to pay taxes (1099c form, etc) on discharged debt?
A – Generally, no.

Q – Is all debt discharged?
A – You don’t get a free house or car, and it depends on the type of debt., and whether it’s on the list of nondischargable debts.

Q – Isn’t it better than filing bankruptcy to hire a debt consolidation or debt management company?
A – No. See my list of reasons to be very wary of debt consolidation and credit counseling places.

Q – Hi, cool website. Can you tell me should I file bankruptcy?
A – Funny you should ask. There’s a handy article on that in the blue box above.

Q – What makes someone qualify for Chapter 7 bankruptcy?
A – A good way is to see if you pass the means test for Chapter 7.

Q – I’m here for bankruptcy information. Can you tell me how to file bankruptcy?
A – Hey now. That’s my job!

Q – I understand that in 2023 and beyond, my court date maybe isn’t in person. Do you attend?
A – Yes, I’ll be with you at your remote 341(a) meeting of creditors, and attend almost all the in-person ones also so that you’re not stuck with a stranger.

See also: “What type of debt do you have, and will BK eliminate it?”

Q – Will I have to give back my computer and stereo?
A – Probably not. A good bankruptcy lawyer can help you with California’s bankruptcy exemptions, including wild card exemption, for personal bankruptcy.

Q – How do I stop my creditors from harassing me at work or calling me at home?
A – Once you retain us as your bankruptcy attorney, refer your creditors to us. This will be the very first benefit you see from having a bankruptcy lawyer. Also, once you file bankruptcy, all attempts to collect on debts must stop. This is a function of the automatic stay.

Q – Should I file bankruptcy under Chapter 7 vs 11 vs 13?
A – There are few consumer bankruptcy options, check out this good piece about types of bankruptcies.

Q – What if I’m about to have my car repossessed, or want to stop a house foreclosure. In fact, I’m being sued by some law firm by my creditor, or a lawsuit has already turned into a judgment and a wage garnishment. How to stop all of this?
A – Once you file your bankruptcy papers, all collection activities stop. Don’t waste time. Contact a bankruptcy attorney who is also a Los Angeles bankruptcy lawyer right NOW.

Q: When should I reaffirm debt in a bankruptcy?
A: It’s generally not good to sign on to keep debt, but there’s a time when you need to seriously consider it. See this on whether or not to complete a Bankruptcy Reaffirmation Agreement in Chapter 7.

Can’t find what you’re looking for?
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“The Easiest Case Ever”

Q – What does a “simple” bankruptcy cost?
A – All cases are different, but generally the attorney fee is about $1500 to $2500 (plus filing fee). Once we learn about your situation in detail, we’ll put it in writing with a flat fee for all services in a typical case. It covers everything. No nickel and diming.

Q – How am I supposed to afford that? I’m filing bankruptcy, remember?
A – Yes, of course. Ask about our flexible payment plan. All our clients are struggling. Yet, we can make a living helping people who don’t have money by being flexible with an affordable payment plan. We’ll work as you pay, with payments as low as $100 a month. We don’t charge interest. We don’t drain it from your bank account. You pay when you can. When you finish, we finish. This is how we make it easy.

Q: Are there any other pointers I should know about?
A: Yes, see my 12 crucial tips before filing bankruptcy.

Moving forward

Q: How many cases have you filed and what’s your success rate?
A: We’ve helped over 2,000 people get a fresh start, and our Chapter 7 success rate is over 99%, and our  Chapter 13 success rate is over double the district average

Q: Where can I learn more about you?
A: The About page provides some good information, and check out our reviews.

Q – How much is pi?
A – 3.1415

Curious about what the difference is between Chapter 7 bankruptcy vs Chapter 13 bankruptcy? Check out the types of bankruptcies button for an in-depth explanation!

Q– Is it a problem that I have lots of Zelle transfers, and gave away something valuable in the last 4 years?
A –
Yes, see my article on fraudulent transfers.

 – How does the process work?
A – You submit a contact form, we contact you, we learn about your situation, we provide a flat fee and contract, you sign the contract and return it with your payment. After we’re paid in full, we file your Bankruptcy Petition & Schedules at the bankruptcy court. (I’m funny that way, but I don’t want people who are about to file bankruptcy to owe me money!)

Want more bankruptcy information?

Q – How do I contact the bankruptcy lawyer who wrote all this and start the process?
A – Glad you asked. Click on the contact link below.. right now!

Now that you know some of the basic bankruptcy information, contact a lawyer to get a consultation.


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