Deciding to declare bankruptcy is a tough decision. It becomes even more
complicated when you don’t know the
answers to the questions that are bothering you. The attorneys at The Bankruptcy
Law Group in Conyers, GA answer some of the questions that they are asked
How long do I have to clean out my car or home if I give it up for bankruptcy? It depends. If you are planning to give up your car then you should ensure
that you have everything out as soon as possible. Car creditors are not
hesitant when it comes to reclaiming their property, and it could be repossessed
at any time. If you are
giving up your home then you have a little more time because mortgage companies have a few
more hoops to jump through. However, you should go ahead and plan to move
out as soon as you are able.
Will the bankruptcy get rid of my child support or alimony debt? No. There are only three types of debt that a bankruptcy has no power
over and they are student loans, child supportalimony and taxes. You can
arrange to make payment on your back child support or alimony through
your bankruptcy plan but there is no way to get rid of it entirely. It
cannot stop you from filing for bankruptcy, but it will still be there
Can my creditors sue me if I file for bankruptcy? No. Bankruptcy stops any form of debt collection or legal proceeding.
If the debt survives the bankruptcy then the case could resume, but if
the debt is discharged then the case will never return.
A lot of my income is kinda... on the side in cash, do I have to tell the
court about it? Yes this does get asked, and yes you are required to report ALL income
to the court.
Can I keep my home? The answer to this question is not a simple one. In a lot of cases you
are allowed to keep your home but it depends on many factors including
what type of bankruptcy you will be filing for.
These are only five of the FAQs about bankruptcy. Odds are if you’re
thinking of filing you will have more. Call The Bankruptcy Law Group today
to schedule a free initial consultation at either of their
convenient locations. They can help you decide if bankruptcy is the right choice for you and
answer any questions that you may have.