When Should I File Bankruptcy?
A San Francisco bankruptcy attorney lets you know: When Should I File Bankruptcy?
What timing considerations are important if I want to file bankruptcy?
There are a number of different things that should be considered when determining whether to file bankruptcy. Some of those issues include whether there is a pending foreclosure, whether wages are being garnished, whether someone is subject to a lawsuit, and whether debts are becoming overwhelming.
If I file bankruptcy can a creditor still sue me for what I owe?
No. Filing for bankruptcy automatically stays any sort of action that can be taken against the debtor. If a creditor wants to collect on an unpaid debt the bankruptcy code prohibits them from filing a lawsuit. The creditor is also barred from contacting the debtor directly during the bankruptcy proceeding.
I’m behind on my car payments; if I file bankruptcy will that prevent repossession?
Yes. The automatic stay prevents all action against a debtor that could otherwise be taken by a creditor. In the instance of being behind with car payments, filing for bankruptcy would prohibit repossession. Under a chapter 13 plan, if the debtor wishes to keep the vehicle, the amount owed in arrears is repaid over the life of the plan, allowing the debtor to retain possession of the vehicle.
If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!
