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Bankruptcy FAQ

Answers To Common Questions About Bankruptcy

#1 - Is Bankruptcy Right For You?

Bankruptcy is a powerful debt relief tool that has helped millions obtain total debt relief. But it is not for everyone. Before deciding if bankruptcy is right for you, it is important to explore the potential benefits and consequences. At Bankruptcy Law Group, our attorneys can help you explore your legal options to help you decide if bankruptcy is right for you. If you decide it is, we will provide you with experienced legal guidance through the bankruptcy process.

Considering Bankruptcy

Bankruptcy is not the only way out of debt, but for many, it is the quickest, most effective and least expensive. If you are not sure whether or not bankruptcy is right for you, you may wish to consider the following questions:

If you answer yes to more than one of these questions, bankruptcy may be an option you wish to consider. Of course, our attorneys would need to have a full picture of your financial situation in order to advise for or against bankruptcy. If you wish to explore your debt relief options, we are here for you.

#2 - Why Do You Need A Bankruptcy Attorney?

If you are struggling with debt, you may be considering bankruptcy and wondering if you need to hire an attorney to handle a bankruptcy. You may have seen ads for "do-it-yourself bankruptcy" and wondered if it was necessary to have an experienced lawyer helping you through the process.

At Bankruptcy Law Group, PC, we offer experienced legal representing to people filing for Chapter 7 and Chapter 13 bankruptcy. Before going it alone, we hope you will consider the benefits of hiring an experienced attorney to help you with your bankruptcy.

"Do I Need a Bankruptcy Lawyer?"

It may be possible to handle a very simple Chapter 7 bankruptcy by yourself. Even so, it is likely you will get a better result (and save yourself a lot of stress) if you hire an attorney. A Chapter 13 bankruptcy is decidedly more complex and would be much more difficult for an individual to handle alone.

If your bankruptcy involves complex topics such as reaffirmation agreements or stripping second mortgages, it is very important to have a knowledgeable bankruptcy lawyer on your side. A missed detail could expose you to serious financial risk and put your debt relief goals in jeopardy.

An experienced bankruptcy attorney can make a confusing, forbidding process much easier to bear. At our law firm, we do everything we can to make the bankruptcy process as simple and worry-free for our clients as possible.

#3 - How Can I Protect My Home?

If you are having trouble keeping up with your mortgage payments, you may be wondering how you can protect your home from foreclosure. At Bankruptcy Law Group, PC, we have helped numerous people throughout California and Nevada save their homes and achieve a fresh financial start through bankruptcy. Our lawyers are here to help you pursue your debt relief goals.

Are You In Danger of Losing Your Home?

Are you behind on your mortgage payments by two or more payments? It is important to act quickly to save your home and avoid foreclosure. Chapter 13 bankruptcy is an option many people use to restructure their mortgage payments into a manageable payment plan, while avoiding creditor actions like foreclosure and harassment.

Filing for bankruptcy creates what is known as an "automatic stay", which puts an immediate stop to foreclosure proceedings. As long as your bankruptcy is filed before the date of the sale, the foreclosure will be stopped.

Filing for Chapter 13 bankruptcy can not only help you save your home, but can get yoursecond mortgage stripped away as well. Our attorneys will carefully review your financial details to help you determine the debt relief plan that is right for you. With an experienced bankruptcy lawyer on your side, you can get on the road to debt relief, while protecting the home you worked so hard for.

#4 - What Can I Keep After Bankruptcy?

One of the biggest questions facing people who are considering bankruptcy is, "what do I get to keep?" At Bankruptcy Law Group, PC, we can help you explore your debt relief options and determine what property you will be able to keep if you file for bankruptcy. Our attorneys are focused on helping you achieve debt relief while keeping the property you need for a fresh start.

California and Nevada Bankruptcy Exemptions

When filing a Chapter 7 bankruptcy or Chapter 13 bankruptcy, state law allows you to keep certain assets to help with your fresh start.

The following property is generally considered exempt, meaning you will be able to keep it after filing for bankruptcy:

  • Your car up to a certain value
  • Your home up to a certain value
  • Furniture and household goods (aside from luxury items)
  • Tools of your trade
  • Social Security, welfare and unemployment benefits
  • Pensions

Bankruptcy exemptions are largely determined by state law. In California, you have two options of exemptions to choose from when filing for bankruptcy. Each plan has different exemption provisions. In Nevada there is one set of exemptions. Our attorneys can work with you to explore how your assets will be handled in a bankruptcy.

#5 - What Do I Do If I Have Been Sued?

Have you been sued over a past-due debt? You may feel overwhelmed fighting a legal battle against a debt collector, but there are legal steps you can take that can stop a lawsuit.

At Bankruptcy Law Group, PC, we help people who are facing lawsuits and other creditor actions. Our attorneys are focused on making your debt relief goals a reality.

How Does Bankruptcy Stop Lawsuits?

There is good news if you have been sued by a creditor: Bankruptcy can stop the lawsuit. Whatever stage the lawsuit is in — if you have just been served with papers, if it is already in court, if you have only been threatened with a lawsuit — bankruptcy creates what is known as an "automatic stay," a legal action that stops lawsuits and other creditor actions.

The automatic stay will put an immediate stop to:

If you have been sued for a debt, our bankruptcy lawyers are here to help you explore your debt relief option. We handle Chapter 7 and Chapter 13 bankruptcies for clients throughout Northern California and Nevada. We understand the anxiety that comes with having a lawsuit brought against you. We will put our skill and experience to work for you to help you put an end to the lawsuit and achieve your debt relief goals.

Schedule Your Free Consultation & Bully Back

If you are facing an overwhelming debt burden, our bankruptcy attorneys are here to help. Contact us today online to schedule a free debt relief consultation with an experienced Nevada or California bankruptcy attorney. We hold regular office hours and are available evenings and weekends by appointment. We also speak Spanish.