Can I file bankruptcy if I have a job?
Yes, you don’t have to be unemployed to file for bankruptcy. You don’t even have to be behind on your payments. Your income may determine the type of bankruptcy for which you qualify.
Will I have to give up all my assets?
No, the vast majority of bankruptcy cases are “no asset” cases, in which the debtors have claimed an exemption in everything they own; there are then no assets from which to pay creditors.
Do I have to list all my debts?
Yes, you must list all of your debts, even debts that are non-dischargeable and debts you want to keep paying (like your car or house). Omitting a debt constitutes perjury, which could result in your discharge being denied.
Does my spouse have to file bankruptcy with me?
No, you may file without your spouse, although it may be advisable to file together.
Will bankruptcy stop wage garnishments?
Yes, once your case is filed, the garnishment will end.
Are there debts that I cannot discharge?
Yes, these will be discussed during your free consultation.
Will I lose my retirement savings?
No. Most forms of retirement savings are unaffected by filing bankruptcy.
In preparation for filing bankruptcy should I transfer my cars or real estate to someone else to get it out of my name?
No!!! This is the worst thing you can do. Those transfers could be viewed as fraudulent transfers to evade your creditors and your bankruptcy trustee can go after those assets.
Before I file bankruptcy can I pay back the money I owe to my friends or family member?
No. This will backfire on you as well. Those friends or relatives may be forced to pay that money back to the bankruptcy trustee.
What is the best way to obtain my credit report?
Go online to www.annualcreditreport.com. It is a free service and you can look at and print any or all of the three main credit reports (Experian, Equifax, and Trans Union). This will aid you in making your list of creditors for us to review.