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Bankruptcy Information

Bankruptcy Information FAQ's Chapter & Information View our PowerPoint presentation on This page will provide the person thinking about filing bankruptcy the bankruptcy information he or she needs to make an informed decision After reading the following FAQ information you will have a good understanding of what the law allows when you meet with your Bankruptcy Lawyer or Attorney If your questions are still not answered after reading the following information we have an feature so you can ask a bankruptcy lawyer or attorney in your area a question For Chapter Bankruptcy profiles and to hear a Bankruptcy Trustee's views on filing bankruptcy for Chapter and Chapter WHAT IS CHAPTER BANKRUPTCY? Chapter bankruptcy sometimes call a straight bankruptcy is a liquidation proceeding The debtor turns over all non exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors The debtor receives a discharge of all dischargeable debts usually within four months In the vast majority of cases the debtor has no assets that he would lose so Chapter will give that person a relatively quick fresh start One of the main purposes of Bankruptcy Law is to

THE MOST COMMON QUESTIONS ASKED ABOUT PERSONAL BANKRUPTCY For a confidential recorded message on personal bankruptcy call or Toll Free WHAT IS BANKRUPTCY? Bankruptcy is a legal proceeding that is available to a person to cope with a financial crisis One of the main purposes of bankruptcy legislation is to afford the opportunity to a person who is hopelessly burdened with debt to free himself of the debt and start fresh a new lease on life To go into bankruptcy it is necessary for a person to be insolvent To be insolvent means to Owe at least ; Not be able to meet your debts as they are due to be paid WILL MY CREDITORS STOP HARASSING ME? Yes they will By law all actions against a bankrupt must cease once the documents are filed This does not apply to secured creditors such as banks holding for example a lien on a car WHO WILL KNOW? In a bankruptcy where there are significant assets a notice is placed in the legals section of the newspaper notifying creditors of the date of the meeting of creditors If there are minimal assets the creditors are notified

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A service of The Law Offices of Lauren Ross Burbank CA Located in the San Fernando Valley FREE Office Consultation San Fernando Valley Bar Association When personal financial problems come up many concerns arise This site is designed to answer your questions If you do not find an answer to your particular issue we can answer all of your questions either by or at a consultation with an experienced bankruptcy attorney Look through this site for answers to your bankruptcy questions There is also valuable information on your rights as a creditor Just go to our We provide accurate information so you can make an informed choice regarding your financial future Common Bankruptcy Questions and Answers How will the new bankruptcy law affect me? What can bankruptcy do for me? What about delinquent taxes? What about spousal support & child support? How do I stop creditor calls? Can I keep my house? Can I keep my car? Can I keep the money in my bank account? Will bankruptcy ruin my credit? How long before I can get credit again? Can I keep my credit cards? Can I get fired for filing bankruptcy? I filed bankruptcy several years ago what

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