So often, people have questions with regards to filing bankruptcy in order to, or hiring a bankruptcy attorney in Salem, Oregon. It is because of this, that we have put together a frequently asked questions page (FAQ) that we hope will help answer some of the basic questions about bankruptcy. Again, not all questions will be able to have an answer that is applicable to you, because there are so many different factors that go into filing bankruptcy.
Nevertheless, we recommend that you contact a bankruptcy attorney whether you decide to file bankruptcy or not. There are many cases, where clients will think that they have a good bankruptcy case only to find out later that they do not. While the Internet can provide a lot of great information, there is no substitute for the expertise of a qualified bankruptcy attorney.
What Is Bankruptcy?
Put quite simply, bankruptcy is believed legal process in which a person may have some or all debt removed from their responsibility because they are not able to afford the financial burden. There are several different chapters of bankruptcy and depending on which one you qualify for some debt may be wiped out immediately or be paid off with an adjusted payment program. if you are curious about more information on bankruptcy, the US Courts has a good publication with regards to bankruptcy basics.
Do I Get to Own Anything after I File Bankruptcy?
Yes, in most cases you will be able to own certain exempt property. Again, this is very difficult to go into details because certain types of bankruptcy require you to give up possession of certain items. But rest assured, a qualified bankruptcy attorney will be able to help you understand what you can and cannot own bowl during the bankruptcy process and also after. By hiring a bankruptcy attorney san diego, the process will be easier for you.
What Happens to My Credit After I File Bankruptcy?
In most cases, a person filing bankruptcy might have done the majority of the damage to their credit score. Typically we find that becoming behind on your bills and filing bankruptcy doesn’t do much to your credit score. But, keep in mind the fact that you filed for bankruptcy will be kept on record for 10 years and can be something that the creditors might look at. As always, we do not want to say that we are experts in credit scores and what might happen in the future.
While Filing Bankruptcy Make It Hard To Get a Job?
No, there is a specific piece of law that prohibits government and private employers from discriminating against you based on the fact that you filed bankruptcy. Please read here to find out more information about the protection you receive when filing bankruptcy.
How Often Can I File Bankruptcy?
Depending on the type of bankruptcy that you filed, the waiting period varies. In some cases, as with chapter 7, six years or more must have passed before you can file again.
- On the other hand, such bankruptcy protections like chapter 13, can be filed at any time.
- Again, this is something that we highly recommend talking to your attorney about prior to filing.
While we could keep adding to this page, we recommend that you contact us or a qualified bankruptcy attorney prior to making any important decisions. There are so many different scenarios in which the questions and the answers shown above could be entirely incorrect and not applicable to your situation.