Bankruptcy Archives | Page 2 of 4 | Patrick McBurney Attorney at Law

Bankruptcy

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Does my spouse have to file for bankruptcy with me?

The answer to that question is no. However, from an efficiency and expense standpoint, it is generally more efficient for spouses to file together. If you and your spouse have been recently married and one party has a lot of debt, and the other party does not, it may make sense for one spouse to […]

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Does bankruptcy stop creditor harassment and phone calls?

What I have found that immediately after you have filed for bankruptcy is once creditors are notified of this, they will immediately stop calling and harassing you.

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Does bankruptcy destroy my credit?

The answer to that question is no. Bankruptcy is not necessarily good for your credit. It is a negative, but you can use strategies and techniques to rebuild your credit so that after a couple of years, you’re borrowing money again at relatively normal rates.

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Does bankruptcy automatically remove liens against any property I own?

The answer to that question is generally no. You would have to file a motion to strip the Lean In bankruptcy, and that sometimes incurs an additional charge.

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What happens to medical debts that are incurred after I file for bankruptcy?

If I incur medical debt after I file for bankruptcy, will those debts be discharged? The answer to that question is no. Bankruptcy only discharges the debt that you had prior to when you filed your petition.

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Do I need a lawyer to file for bankruptcy?

No, you don’t need a lawyer to file for bankruptcy. However, what you are paying for is your lawyer’s expertise and preparing the petition correctly and navigating you through the stage of filing to a meeting of creditors to discharge.

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Do I need to provide a copy of my tax return before and after filing for bankruptcy?

Generally speaking, I require a copy of your tax return to prepare your bankruptcy petition. If you are filing for bankruptcy in the early part of the year and you haven’t completed your previous year’s tax return. The bankruptcy trustee may require you to produce that when that tax return is completed.

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How difficult is it to get a credit counseling course certificate?

It’s not difficult to get a credit counseling certificate. You can do it online via chat or by phone if you have challenges. Getting the certificate at the law office of Patrick McBurney, we will assist you in getting that certificate completed.

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How does bankruptcy affect my home?

This is often the most common question I hear asked by prospective debtors, will I be able to keep my house? The answer to that is, usually yes. The important thing is that when you go into bankruptcy, you need to make sure that your house payment is current. As long as you have continued […]

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How long will bankruptcy affect me?

It’s been my observation that bankruptcy affects a person for up to 10 years during the first two years following the bankruptcy. Borrowing money is more difficult. After you’ve established some credit following your bankruptcy in about two years, you would be able to qualify for a home loan after about five years. Generally speaking, […]

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