Stressed Over Debt Collectors? Wage Garnishment? Repossession? Foreclosure?
BANKRUPTCY ATTORNEY CRAIG BLACK
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If you’re facing debt problems, you’re bound to have many questions. Below are some of the most frequently asked questions from people facing bankruptcy or other debt issues.
Can I Get My Repossessed Car Back?
Yes, filing for Chapter 13 bankruptcy will force the creditor to return your car but not in all cases. Call Craig now at (678) 888-1778 to discuss your options.
How Soon Can I Stop Wage Garnishment?
If you declare bankruptcy, you could stop the wage garnishment immediately after you file your petition for bankruptcy. But keep in mind that some garnishments are immune from the automatic stay, such as those stemming from failure to make child support or alimony payments.
How Soon Can I Buy a Car After Chapter 7 Bankruptcy?
It depends. In my experience, many clients have been approved for car loans immediately after discharge. Call me today at (678) 888-1778 for more details!
Will Declaring Bankruptcy Hurt My Credit?
Yes. Declaring bankruptcy will significantly lower your credit score. However, if your debts are bad enough, you’re probably better off in the long run by filing for bankruptcy. This is because if you don’t declare bankruptcy now, you may have payments you continue to miss and debts you may eventually default on. By declaring bankruptcy, you can reset your credit history sooner rather than later and start building it back up. Over time, the effect of anything that hurts your credit, such as a bankruptcy, diminishes.
Can I Keep My Home in Chapter 7 Bankruptcy?
Sometimes. When an individual files for Chapter 7 bankruptcy, not every piece of property they own is subject to liquidation. Depending on what state you’re in and how much equity you have in your home, your place of residence may be immune from liquidation. But this is only if you are current on your mortgage payments.
If you have any more questions, don’t hesitate to give me a call at (678) 888-1778 or contact me online.