Interview Questions.

Q1. How Long After Filing Will The Creditors Stop Calling?

Once a creditor or invoice collector turns into aware about a submitting for financial ruin protection, it should right away prevent all collection efforts. After you record the bankruptcy petition, the court docket mails a note to all the creditors listed to your bankruptcy schedules. This commonly takes a couple of weeks. Creditors may even forestall calling if you tell them which you filed the financial ruin petition, and supply them with your case quantity. In some cases, you or your attorney should touch the creditor right now upon submitting the financial ruin petition, mainly if a lawsuit is pending. If a creditor maintains to use series approaches as soon as knowledgeable of the financial disaster they may be chargeable for court sanctions and attorney prices for this behavior.

Q2. What Documents Do I Need To File In A Chapter 7 Case?

Your lawyer will put together the bureaucracy that you have to file in a chapter 7 case. To prepare those forms, your attorney will need certain records from you. The information you have to take with you on your attorney is indexed beneath.

Information to Take With You When Consulting a Bankruptcy Attorney

A reproduction of every invoice or letter you have got obtained from a set organisation;

A replica of any lawsuit or pleading you have obtained in a case in which you are involved;

Two pay stubs representing a mean pay period (encompass pay stubs on your partner, although he/she is not submitting financial disaster with you);

Deeds to actual property in that you have any (even a partial) hobby (inclusive of actual property you're shopping or that you already own);

The unique or memorandum name for any motors, vans, trailers, boats, motorcycles, cell or motor houses you personal or are shopping, or other documents displaying the price of your assets;

Appraisals of your own home, earrings, and so forth., if you have them;

Any rules of lifestyles insurance you have to your lifestyles, and/or the life of your spouse or children (wherein feasible, you need to touch the agent who bought you the policy and find out if the coverage has any "cash give up price." If your policy has "coins give up value", please offer your legal professional with that cost); and

Income Tax Returns filed in the previous two years.

You need to report those bureaucracy, all of which have to be organized by an attorney:

the financial ruin petition;

a listing of lenders;

a listing of property and liabilities;

a list of modern income and current prices;

a assertion of your financial affairs;

a certificates from the attorney or bankruptcy petition preparer (if there is one) indicating which you obtained a notice describing the exceptional bankruptcy chapters and the services available from the credit counseling organizations as well as a announcement specifying that anyone who knowingly or fraudulently conceals property or makes a fake declaration beneath oath is problem to fine, imprisonment or both (if no person assisted you, then you definately must report a certificate that such word became received from the court docket and read via you);

copies of all pay stubs acquired with the aid of you within 60 days before filing;

a declaration of your monthly internet earnings itemized to show how it is calculated; and

a assertion disclosing a reasonably expected growth in income or fees over the following three hundred and sixty five days.

If you fail to file all statistics cited above inside forty five days of submitting the petition, the courtroom will dismiss your case. If your case is brushed off, you will lose the gain of the automated stay and your creditors can resume their series efforts.

You may also should report the subsequent files with the court. Again, your attorney will assist you with these.

If you have assets that secures a debt, together with a automobile or home, a Statement of Intention declaring whether you propose to keep or give up the property;

a certificates from the authorized non-profit finances and credit score counseling organisation that describes the services supplied to you and a replica of the debt repayment plan, if any, advanced by using that agency;

a report of any hobby that you have in an man or woman retirement account; and

an evaluation of the me test.

Q3. What Does It Cost To File For Bankruptcy?

It now charges $306 to report for financial ruin underneath chapter 7 and $281 to record for financial ruin under bankruptcy thirteen, whether for one individual or a married couple. The courtroom may additionally can help you pay this submitting rate in installments if you can not pay . If you rent an attorney you will additionally have to pay the lawyer’s costs you settle to.

Q4. If I Am Going Through A Divorce How Will My Ex-partner Filing Bankruptcy Affect Our Divorce Settlement?

Alimony, maintenance, and/or help are included from discharge. Divorce decrees and separation agreements are blanketed by 11 U.S.C. Section 523(a)(15). This phase states that these money owed are not dischargeable unless:

the debtor does no longer have the ability to pay such debt from income or assets of the debtor no longer moderately important to be expended for the renovation or guide of the debtor or a established of the debtor and, if the debtor is engaged in a business, for the payment of costs necessary for the continuation, upkeep, and operation of such commercial enterprise; or

discharging such debt could bring about a gain to the debtor that outweighs the detrimental results to a partner, former spouse, or child of the debtor.

Q5. Are Utility Services Affected?

Public utilities, inclusive of the electrical enterprise, can not refuse or cut off provider because you have filed for bankruptcy. However, the utility can require a deposit for destiny carrier and also you do should pay bills which rise up after your bankruptcy is filed.

Q6. Is California Chapter 13 Bankruptcy (reorganization) Right For Me?

In a bankruptcy 13 case you file a “plan” displaying how you will repay a number of your beyond-due and cutting-edge debts over 3 to 5 years. The most critical component approximately a chapter 13 case is that it's going to assist you to maintain valuable property–especially your home and car–which may in any other case be lost, if you may make the bills which the bankruptcy law requires to be made to your creditors. In most instances, these payments can be at the least as a lot as your everyday monthly bills for your loan or automobile loan, with some extra charge to get stuck up on the quantity you've got fallen at the back of. You have to keep in mind submitting a bankruptcy 13 plan in case you:

personal your private home and are in threat of dropping it because of money troubles;

are behind on debt bills, however can capture up if given a while;

have precious property which isn't exempt, however you could manage to pay for to pay lenders out of your income over the years.

You will need to have enough profits in bankruptcy 13 to pay on your necessities and to hold up with the desired bills as they arrive due. 

Q7. What Will Happen To My Home And Car If I File Bankruptcy In California?

In most instances you will not lose your home or car throughout your bankruptcy case as long as your equity in the assets is absolutely exempt. Even if your own home isn't always fully exempt, you may be able to hold it, in case you pay its non-exempt cost to lenders in chapter @However, some of your creditors may additionally have a “safety interest” in your house, automobile or different non-public property. This me which you gave that creditor a mortgage on the house or placed your different assets up as collateral for the debt. Bankruptcy does no longer make those security pursuits depart.

If you don’t make your payments on that debt, the creditor can be capable of take and sell the house or the belongings, at some point of or after the financial ruin case. There are several ways that you could keep collateral or mortgaged property once you report bankruptcy. You can comply with keep making your payments on the debt till it's miles paid in complete. Or you can pay the creditor the quantity that the belongings you want to preserve is really worth. In some instances involving fraud or other wrong conduct via the creditor, you will be capable of assignment the debt. If you put up your family goods as collateral for a loan (other than a mortgage to buy the products), you can commonly hold your own home without making any greater payments on that debt.

Q8. Do All Debts Get Discharged?

No, not all debts can be discharged via the financial ruin, even if you have followed all of the Bankruptcy Code’s policies during your case. First, a financial ruin case only discharges debts that you owed and listed on the time you filed the case, no longer the ones you incurred after submitting the case.

In addition, even after bankruptcy, you'll should pay debts that are not discharged. Non-dischargeable debts include: 

money owed for earnings and belongings taxes

debts to creditors you did not listing to your bankruptcy office work

home support duties along with alimony and baby guide debts

fines payable to any governmental unit, consisting of a city or country

restitution imposed on you as a part of a crook sentence

scholar lo 

Other debts that might not be discharged consist of money owed you could have incurred through fraud or by way of willful or malicious moves. An instance of a debt incurred by means of fraud is a loan you received when you knew you couldn't pay off. Some credit card use right away before financial disaster may be taken into consideration fradulent, in particular if you use the card to pay for "luxury" goods or offerings, together with a vacation. If the creditor does now not ask the court docket to rule on those debts, they will be discharged.

Q9. Will Bankruptcy Affect My Credit?

Unfortunately, if you are at the back of to your payments, your credit may additionally already be horrific. Bankruptcy will probable not make matters any worse. The reality that you’ve filed a bankruptcy can seem in your credit document for ten years. But since bankruptcy wipes out your vintage debts, you're possibly to be in a better position to pay your present day bills, and you will be able to get new credit score.

Q10. What Is Bankruptcy?

Bankruptcy is a prison intending in which an man or woman who can not pay his or her payments can get a clean economic begin. The proper to file for bankruptcy is supplied through federal law, and all financial disaster cases are dealt with in federal courtroom. Filing bankruptcy right away stops all your lenders from seeking to gather debts from you, as a minimum till your debts are taken care of out in step with the law.

Q11. Will Bankruptcy Wipe Out All My Debts?

Debts for baby help or alimony, fines, and a few taxes;

money owed not indexed to your financial ruin petition;

lo you obtain via knowingly giving fake records to a creditor, who reasonably trusted it in making you the loan;

debts due to “willful and malicious” damage;

student lo owed to a college or authorities frame, besides if:– the court docket makes a decision that fee might be an undue worry;

mortgages and different liens which are not paid inside the financial disaster case (however financial ruin will wipe out your responsibility to pay any extra money if the property is bought by the creditor).

Q12. How Much Does It Cost To File Bankruptcy?

The cutting-edge filing charge for a bankruptcy 7 case is $306 and for a chapter 13 case is $28@Some courts also impose an additional administrative price. You may pay the submitting rate in installments. The court may waive the filing fee in a chapter 7 case if your income is beneath distinct ranges and the court reveals that you cannot pay the filing charge in installments.

You must lease an attorney to help you with submitting financial ruin. Attorneys normally fee a set fee for certain offerings in a bankruptcy case and the costs typically differ depending on the bankruptcy beneath that you document. Your attorney may also request charge up front, specially in case you are submitting for bankruptcy 7.

Q13. What Should I Do If I Discover That I Forgot To List A Creditor In The Bankruptcy Schedules?

You must notify your attorney and offer her or him with all the statistics necessary to finish the schedule (the quantity of the debt, the type and fee of any collateral, and the call and cope with of the creditor). This is very vital, because in case you do not listing a debt for your schedules, that debt won't be discharged. That me you'll be required to pay the debt in complete after financial ruin.

If an left out creditor needs fee of the debt, you ought to inform the creditor of the financial disaster, as mentioned beneath.

Q14. How Does Bankruptcy Help Me In The Short Run?

The second you record for financial disaster, you're included from your creditors. The Automatic Stay stops all collection efforts towards you and against your house. Creditors must forestall calling you and sending letters to you. If a creditor has already sued you, that lawsuit need to prevent. The automated stay additionally prevents lenders from repossessing your private home and from foreclosing on your private home. 

Q15. What Different Types Of Bankruptcy Should I Consider?

There are four forms of financial ruin cases furnished underneath the regulation:

Chapter 7 is referred to as “straight” bankruptcy or “liquidation.” It calls for a debtor to surrender assets which exceeds sure limits called “exemptions”, so the property may be offered to pay creditors.

Chapter eleven, known as “reorganization”, is used by businesses and some person borrowers whose debts are very huge

Chapter 12 is reserved for family farmers.

Chapter 13 is known as “debt adjustment”. It requires a debtor to report a plan to pay debts (or elements of debts) from modern-day profits.

Most people submitting financial disaster will want to document beneath either bankruptcy 7 or chapter @Either kind of case may be filed individually or via a married couple filing collectively.

Q16. Are There Additional Documents And Other Requirements In A Chapter thirteen Case? What Is Required In The Chapter thirteen Plan?

If you're filing a chapter thirteen case, in preference to a chapter 7, in addition to the files stated above, you ought to file a plan that describes how a great deal you'll pay your lenders and over what term. Your plan ought to offer that you pay creditors at the least what they may have acquired in bankruptcy 7 liquidation case, which essentially me creditors should get hold of bills equal to the value of your non-exempt belongings. Your legal professional will prepare your plan.

In addition, the plan must offer which you make contributions all of your "disposable income" to the plan. Disposable income is the earnings above what's essential for the aid of you and your circle of relatives. However, in lots of cases the me test system determines that quantity. The me take a look at is a totally complicated check, however essentially calls for that you average your income over the past six months (from any supply which include ordinary presents from own family individuals), then deduct a sequence of allowed costs, and spot what is left to pay lenders. You will need an attorney to finish this evaluation.

The bankruptcy 13 plan lasts until the earlier of you pay your debts in complete or the end of a 3- to five-year period. If your income is below your nation's median earnings, the most plan period with out courtroom approval is three years. If your income is not under your state’s median earnings, creditors can be capable of insist that the debtor pay a five-yr plan.

Within 30 days of submitting your petition, you should start making bills under your plan. You make the payments to a trustee, who distributes the payments to the lenders.

Like in a chapter 7 case, after submitting the bankruptcy petition, you should attend a lenders' assembly (also called a 341 assembly, named after the section of the bankruptcy law that calls for the meeting). The bankruptcy thirteen trustee will conduct the assembly and could query you under oath approximately the paperwork you filed for your case. This creditors' assembly will ultimate longer than a assembly in a chapter 7 case. The trustee will likely question you approximately your earnings and your charges, and can also require extra documentation on the assembly.

After the meeting of lenders, you, the chapter thirteen trustee, and those creditors who want to attend will come to court docket for a listening to in your chapter thirteen plan. If there are not any troubles, the courtroom will approve ("confirm") your plan.

After finishing bills beneath the plan and completing any financial counseling required, you'll acquire a discharge of any money owed no longer paid beneath the plan.

Q17. What Is A Discharge?

If a debt is discharged, you not have an obligation to pay the debt, and the creditor might not make any attempt to compel you to pay off. However, if some other individual (which include a relative or buddy) has co-signed or guaranteed your mortgage, his/her duty isn't always discharged. In addition, if you have belongings that is collateral for a mortgage, the creditor can also nevertheless be able to repossess that assets if you do not pay off the loan.

Q18. What Is A Reaffirmation Agreement And How Does It Work?

A reaffirmation settlement is an settlement offering that you will pay a creditor's debt despite the fact that the debt could otherwise be discharged in financial ruin. Your creditor must conform to the reaffirmation, so whilst the debt may be renegotiated, however most reaffirmation agreements certainly require you to pay the debt as originally agreed.

People normally reaffirm a debt for you to maintain assets that they gave as collateral for the debt. Thus, most reaffirmation agreements deal with secured money owed, and chapter 7 debtors input them to preserve the creditor from repossessing or foreclosing on the belongings securing the debt. A valid reaffirmation settlement puts you below a criminal duty to repay the in any other case dischargeable debt. If you default on the payments required below the reaffirmation settlement, the creditor can repossess or foreclose on the belongings and searching for a personal judgment towards you.

In order for a reaffirmation to be valid, you and your creditor ought to sign the settlement and file it with the courtroom earlier than you acquire a discharge. In addition, both your attorney or the courtroom should determine that the settlement does no longer impose an "undue difficulty" to your own family. The Bankruptcy Code includes many other necessities for reaffirmation agreements. To see there necessities, you can study the reaffirmation agreement form right here.

If you and your creditor do now not comply with all of the requirements for a reaffirmation, the settlement won't be binding. In that event, you will haven't any personal duty to make bills under the settlement.

As a rule, you ought to suppose very cautiously about whether to reaffirm debt, as this boundaries your financial disaster discharge.

Q19. Is California Chapter 7 (instantly Bankruptcy) Bankruptcy Right For Me?

In a bankruptcy case under chapter 7, you record a petition asking the courtroom to discharge your debts. The simple idea in a chapter 7 financial ruin is to wipe out (discharge) your debts in alternate for your giving up belongings, except for “exempt” belongings which the law allows you to maintain. In most cases, all of your property can be exempt. But assets which is not exempt is offered, with the money dispensed to lenders. If you want to maintain belongings like a domestic or a car and are in the back of at the payments on a mortgage or car mortgage, a bankruptcy 7 case likely will now not be the proper choice for you. That is due to the fact chapter 7 financial disaster does no longer cast off the proper of mortgage holders or car loan creditors to take your private home to cover your debt.

Q20. How Can I Get A Copy Of A Bankruptcy Filing?

The federal judiciary proves public get entry to to federal appellate, district and financial ruin court documents thru Public Access to Court Electronic Records (PACER), an electronic public get right of entry to provider.

Q21. Can I Erase My Student Lo By Filing Bankruptcy?

Generally, scholar lo are not discharged in financial ruin. In eleven U.S.C. Sec. 523(a)(eight) there are two exceptions to this standard rule:

The pupil mortgage may be discharged if it is neither – Insured or guaranteed by way of a governmental unit, nor

– Made beneath any software funded in whole or in part by a governmental unit or nonprofit group.

The scholar mortgage may be discharged if paying the mortgage will “impose an undue hardship on the debtor and the debtor’s dependents.”

Student lo more than 7 years old was dischargeable under positive circumstances, however this provision changed into eliminated through an appropriations invoice exceeded in October of 1998.

Whether an exception applies relies upon at the facts of the precise case and might also depend upon neighborhood court docket decisions. Even if a pupil mortgage falls into one of the  exceptions, discharge of the mortgage won't be computerized. You may also must document an adversary proceeding within the financial disaster court docket to gain a court order affirming the debt discharged.

Q22. What About Co-signers?

If someone has co-signed a mortgage with you and also you record for financial disaster, the co-signer may need to pay your debt.

Q23. Do I Have To List All Creditors On The Bankruptcy Schedules?

Yes. You need to listing all of your debts, with the name and cope with of the lenders. This is so lenders acquire notice of the bankruptcy and get their honest percentage of any money paid to lenders. You may think that you must omit a creditor due to the fact you want to retain to pay the debt. This could violate the regulation, and it is needless due to the fact you may constantly choose to pay a debt voluntarily, even though the debt has been discharged and there may be no legal duty to make payment. However, creditors are prohibited from taking any action to acquire discharged debts.

Q24. What Will Happen In My Chapter 7 Case After I File All These Documents?

Chapter 7 cases are quite easy for the maximum element. In most cases, you may attend one lenders' assembly and just watch for your discharge word to return inside the mail.

The financial disaster Trustee runs the lenders' meeting, which is likewise called a 341 meeting (named after the phase of the financial disaster regulation that calls for the assembly), and could question you under oath approximately all the statistics contained for your bankruptcy documents.

If you and your spouse file a Joint Petition, you ought to each attend the lenders' assembly and wer questions. It is vital to cooperate with the trustee and to offer any records or documents asked.

In a simple case, the meeting will generally closing simply five minutes or so. While all creditors might also attend, very few really do. Be positive to convey a form of identification to the assembly, in addition to proof of your Social Security wide variety (generally your Social Security card). The trustee can also ask you to provide extra documentation in the course of the assembly and provide you with some days to produce it.

The discharge notice will arrive within the mail about 60 days once you attend the lenders' meeting. This piece of paper is proof that maximum of your debts had been discharged. You have to preserve it in a secure place.

Q25. Can I Be Discriminated Against For Filing Bankruptcy?

No. 11 U.S.C. Sec. 525 prohibits governmental gadgets and private employers from discriminating against you because you filed a financial disaster petition or because you didn't pay a dischargeable debt.

Q26. Must I Produce Tax Returns Before And After My Bankruptcy?

Yes. You need to provide the trustee and/or any creditor with copies of any federal tax return that you filed for the year prior to filing. If you do no longer follow this request, the courtroom might also brush aside your financial disaster case.

You have to also document copies of any federal tax returns filed for the duration of the case with the financial ruin court.

Any taxing authority may additionally request dismissal of a bankruptcy case in case you fail to document all required tax returns.

Q27. Can Filing Bankruptcy Stop Bill Collectors From Calling?

Yes. The automated live prevents invoice collectors from taking any motion to gather debts.

Q28. How Often Can I File Bankruptcy?

You can not acquire a discharge in a Chapter 7 case if you obtained a discharge beneath a Chapter 7 case filed in the remaining 8 years or a Chapter 13 filed within the final six years.  You cannot obtain a discharge in a Chapter 13 case if you acquired a discharge beneath a Chapter 7 case filed within the closing 4 years or a Chapter 13 filed in the final two years.  If didn’t received a discharge in the preceding bankruptcy filing, depending on why this is the case, you could document and receive a discharge without any time restrictions.

Q29. If I Decide To File For Bankruptcy, What Do I Have To Do Before I File?

In order to be eligible to record financial ruin, you have to get hold of credit counseling inside the a hundred and eighty days prior to submitting. Specifically, the regulation calls for you to acquire, from an accepted organization, a briefing outlining the possibilities for credit counseling and help with a budget evaluation. You may additionally do this alone or in a group, and in individual, at the phone, or maybe at the Internet. If, because of an emergency, you're not able to obtain credit score counseling services from an authorised employer throughout a five-day length, the courtroom may additionally excuse the requirement briefly however you still need to satisfy it within 30 days (or in a few times forty five days) after submitting. If you use a bankruptcy lawyer, he/she can maximum probably have the ability that will help you entire this requirement.

You can find a listing of accepted non-profit finances and credit counseling groups on the office of the US Trustee or Bankruptcy Administrator, at the bankruptcy courtroom Clerk's office, or on-line at the hyperlinks we provide beneath Resources.

Q30. What Can Bankruptcy Do For Me?

Eliminate the felony responsibility to pay most or all of your debts. This is called a “discharge” of money owed. It is designed to offer you a fresh economic begin. 

Stop foreclosures on your private home or cell home and allow you an possibility to capture up on ignored bills. (Bankruptcy does no longer, but, automatically get rid of mortgages and different liens on your home without charge.)

Prevent repossession of a automobile or other assets, or pressure the creditor to go back belongings even after it's been repossessed.

Stop wage garnishment, debt series harassment, and comparable creditor actions to collect a debt.

Restore or save you termination of software carrier.

Allow you to undertaking the claims of creditors who've committed fraud or who're otherwise trying to collect more than you without a doubt owe.

Q31. In California What Property Can I Keep?

In a bankruptcy 7 case, you may preserve all belongings which the law says is “exempt” from the claims of creditors.  California exemptions offers list of the exemptions available for California. In determining whether or not property is exempt, you must maintain some matters in mind. The price of property is not the amount you paid for it, but what it's miles worth now. Especially for furniture and automobiles, this can be lots less than what you paid or what it might fee to buy a substitute. You additionally best want to observe your real equity in any property.

This me that you matter your exemptions towards the overall price minus any money which you owe on mortgages or liens. For instance, if you own a $50,000 house with a $forty,000 loan, you rely your exemptions against the $10,000 that is your equity in case you sell it. While your exemptions permit you to hold assets even in a chapter 7 case, your exemptions do now not make any difference to the right of a loan holder or vehicle loan creditor to take the property to cover the debt in case you are at the back of on bills. In a chapter thirteen case, you can preserve all of your property if your plan meets the requirements of the bankruptcy law. In most instances you may should pay the mortgages or liens as you will in case you didn’t report financial disaster.

Q32. What Should I Do If A Creditor Demands Payment Of A Debt After I File My Case?

Most efforts through a creditor to acquire a pre-petition debt (one which you owe as of the filing of your case) or to repossess your own home with out the permission of the bankruptcy court are violations of the automated stay. If a creditor repossesses any belongings, inclusive of your car, once you record for bankruptcy, the creditor must go back the assets to you.

The court docket may punish a creditor who knowingly violates the automated stay and the creditor is liable to the debtor for harm induced. If you probably did no longer list a debt on the schedules filed with the court, the creditor may not be on notice of the financial ruin. Therefore, you ought to inform the creditor of your financial ruin and request that the creditor stop the collection efforts.

If you're represented by an legal professional, you must give the creditor your legal professional's name and phone variety. If you aren't represented by means of an lawyer, you should give the creditor extra facts about the case, the date of submitting, the courtroom wherein the case changed into filed and the case range. If mistaken collection motion maintains, you should seek advice from an lawyer, notify the trustee or are searching for protection from the courtroom.

Q33. Can I Obtain Bankruptcy Protection Again If I Have Filed A Bankruptcy In The Past And Am Now Falling Behind In Payments Again?

Yes, you may record again, until you have got been in financial ruin in the beyond six months and either:

your case turned into dismissed due to the fact you probably did no longer observe the orders of the financial disaster courtroom or did no longer display up in court while you had been speculated to; or

you asked the court docket to disregard your case after a creditor moved for relief from the Automatic Stay.

If you've got been in bankruptcy within the past year, you may now not get the total protection of the Automatic Stay. Because the automatic stay protects you out of your lenders when you document a financial disaster case, it might not be well worth it so as to document for bankruptcy if the automated live will no longer apply. Your legal professional can let you know if it makes sense as a way to record for financial ruin if you have been in financial disaster within the beyond 12 months.

As defined above, the financial ruin Discharge gives you your clean begin. But when you have received a financial disaster discharge inside the beyond, you may not be eligible for another discharge right now.

If your final financial disaster changed into a bankruptcy 7 and:

you filed within the ultimate 4 years, you may not obtain a Chapter 13 discharge or a Chapter 7 discharge if you file these days;

you filed in the beyond 8 years, you'll no longer acquire a Chapter 7 discharge if you report today.

If your remaining financial ruin turned into a chapter thirteen and:

you filed in the beyond two years, you may no longer acquire a Chapter 13 discharge if you document nowadays;

you filed in the beyond six years, you'll now not obtain a Chapter 7 discharge unless you paid your creditors at least 70% of what they were owed to your Chapter 13 plan.

Your attorney can inform you whether it makes sense to document for financial disaster even if you can't receive a discharge.

Q34. Will I Have To Go To Court?

In most bankruptcy cases, you handiest need to go to a proceeding called the “meeting of lenders” to satisfy with the financial disaster trustee and any creditor who chooses to return. Most of the time, this meeting might be a short and easy manner wherein you are asked a few questions about your financial disaster bureaucracy and your economic scenario. Occasionally, if complications arise, or in case you choose to dispute a debt, you may need to appear before a choose at a listening to. If you need to visit court docket, you may obtain observe of the courtroom date and time from the courtroom and/or out of your lawyer. To discover the place of the courtroom that serves your area visit the California Federal Bankruptcy Court Directory web page.

Q35. Can I Own Anything After Bankruptcy?

Yes. Many humans consider they can not personal some thing for a period of time after submitting for financial disaster. This is not true. You can hold your exempt belongings and some thing you acquire after the financial disaster is filed. However, if you get hold of an inheritance, a property agreement, or life insurance blessings within one hundred eighty days after your bankruptcy, that money or belongings may additionally should be paid on your lenders if the belongings or money isn't exempt. You can also maintain any property included by California bankruptcy exemptions via the financial ruin.

Q36. Can I Get A Credit Card After Bankruptcy?

Yes, there are numerous options available. While technically not a credit card you can use a financial institution or debit card to perform sports for which you usually would use a credit card. You additionally can be able to maintain the credit card you have already got if the creditor offers approval. If those options do no longer paintings you may get secured credit score card that's backed by using your personal bank account.