what is the difference between a bankruptcy lawyer and a bankruptcy attorney

What happens if your Chapter 7 bankruptcy is denied?

The reason for the denial will determine the consequences. In some cases, you can convert the petition to a Chapter 13. In others, you remain liable for the debt. If the trustee dismisses the petition due to fraud, you could lose assets and remain responsible for your debts.Sep 18, 2020

Can your bankruptcy case be denied?

Concealing or Destroying Information Your bankruptcy also can be denied if you conceal, destroy, falsify, mutilate, or fail to keep information regarding your financial condition.Oct 22, 2021

What happens to your bank account when you file Chapter 7?

In most Chapter 7 bankruptcy cases, nothing happens to the filer's bank account. As long as the money in your account is protected by an exemption, your bankruptcy filing won't affect it.Mar 21, 2022

What Cannot be discharged in bankruptcy?

Filing for Chapter 7 bankruptcy eliminates credit card debt, medical bills and unsecured loans; however, there are some debts that cannot be discharged. Those debts include child support, spousal support obligations, student loans, judgments for damages resulting from drunk driving accidents, and most unpaid taxes.

Debt Settlement

Debt settlement is an alternative to bankruptcy that may be right for some people. Debt settlement occurs when you or a representative from a debt settlement company contact your creditor to negotiate a settlement amount that is typically much lower than the original amount you owed.

Bankruptcy

Filing for bankruptcy can be a much longer and complicated process than debt settlement. Bankruptcy is the process of declaring that you cannot pay your debt and you want the government’s help. There are two different types of consumer bankruptcies: Chapter 7 and Chapter 13.

Discuss Your Case With Our Schertz, TX Bankruptcy Attorney

With all of the options available to you, there is bound to be confusion over what the best option for debt relief is. In many cases, a skilled San Antonio, TX bankruptcy lawyer can help you determine your goals, needs, and what the best course of action would be to get you out of debt. Contact the Law Offices of Chance M.

How Long Will A Bankruptcy Show On My Credit Reports?

The Bankruptcy Court has no jurisdiction over credit reporting agencies. The Fair Credit Reporting Act, 6 U.S.C. Section 605, is the law that controls credit reporting agencies. The law states that credit reporting agencies may not report a bankruptcy case on a person`s credit report after ten years from the date the bankruptcy case is filed.

I want to know if I qualify for bankruptcy – what are the eligibility requirements?

Depending on the type of bankruptcy proceedings that you wish to file, there are different eligibility requirements that are set by federal law, and thus apply equally to all states. For instance, there are household income eligibility requirements for persons who wish to file Chapter 7 bankruptcy in order to completely discharge their debts.

Will I lose my house, car, and other personal property in a bankruptcy?

Not necessarily, each state has laws that determine which items or property are exempt from being taken away. For example, many states exempt personal items such as furniture and clothing. In addition, other kinds of property are exempt up to a limit.

How does a bankruptcy work if I'm married?

If you are married, you may file a joint petition. A joint petition is the filing of a single petition by an individual and the individual`s spouse. In order to qualify for a joint petition, you must be married on the date that the joint petition is filed. Unmarried persons, corporations and partnerships must each file a separate case.

Is There A Limit On The Number Of Times That I Can File For Bankruptcy?

The time periods between bankruptcies depends on the type of the previous filing and the type of new filing. If your new filing is a Chapter 7, you must wait eight (8) years from last filing of a Chapter 7, or six (6) years from last filing of Chapter 13.

Who Can File For Bankruptcy?

Any person, partnership, corporation or business trust may file bankruptcy. In addition, charitable or social organizations may also file for bankruptcy. United States citizenship is not a requirement for filing bankruptcy.

Do I need an attorney to file bankruptcy?

Federal law does not require you to have an attorney. You are allowed to file pro se, that is, on your own without an attorney. However, without the assistance of an attorney, it is extremely difficult to do so successfully.