The Bankruptcy Law Center
Law Office of Don Provencio, PA
Albuquerque, NM

The Bankruptcy Law Center - 505-242-STOP (7867)

Can I keep a credit card in bankruptcy?
Typically No. You'll have to give up all of your credit cards. However, many people instead use their debit card for purchases they normally would have purchased with a credit card.

Should I pay off certain debt or a creditor before I file?
No, unless it's for secured property (like a car) or via the normal course of business. If you do, this payment may be looked at as preferential, fraudulent and/or invalid which can then be recovered by the bankruptcy trustee.

Will my bankruptcy filing be public record?
Yes, but not in a conspicuous place or common medium. Your bankruptcy record typically will only be seen by someone in search of such information and one who knows where to look.

Can I keep my personal possessions or will everything be liquidated or taken away?
In a Chapter 13 you should be able to retain all your possessions. In a Chapter 7 you may be able to retain all your household possessions along with all other items depending on your particular situation. To determine what you can keep an Attorney must do an exemption analysis for you.

Can I keep my house?
You can remain in your house in both a Chapter 13 and Chapter 7 bankruptcy if you remain current on the payments, however, if you file a Chapter 7 and have too much equity in the home, the trustee may force you to sell. A Chapter 13 is often used to protect a house that has too much equity or when the mortgage payments are delinquent.

Can I keep my car?
You can usually keep a car that has a payment in both a Chapter 7 and 13 if you continue to pay the monthly car payment and you can exempt any equity.

Can I discharge my unpaid taxes?
Typically your tax debt can be discharged if it is more than 3 years old, was filed on time and no liens have been filed by the taxing authority.

Can I discharge my student loans?
Not usually. Student loans are very difficult to discharge. You will need to establish undue hardship if you want to erase your student loan debt.

Can I discharge any judgments or lawsuits against me?
Yes, they can be extinguished. If they have filed a lien then the lien attaches to all real property you own even if it is exempted from the bankruptcy estate. The Bankruptcy Court will allow you to seek a release of a judgment lien on your home under most circumstances.

Will my wage garnishments stop?
Yes, as soon as you file bankruptcy.

Will phone calls from creditors stop?
Yes. When you retain me you can give your creditors my phone number and tell them to call me. I will advise them you have hired me to file a bankruptcy for you. By law your creditors are forced to stop all harassing phone calls. Once you file bankruptcy, I will make sure the harassment stops.

What happens to my credit report?
Some people think that their credit report will be ruined if they file for bankruptcy. However, if you already have high credit card debt and are only making minimum payments or have missed payments then it is more likely than not that your credit is seriously damaged now and it will never get better until you act to clear it up. Why not use the benefits of bankruptcy to help you erase your debts so you can end the constant battle with creditors and start improving your credit rating immediately.

How long will my bankruptcy be on my credit report?
Technically 7-10 years but in today's environment things have changed. A lot more people are filing for bankruptcy; therefore, bankruptcy is no longer looked at by financial institutions as much of a negative as it was in the past. As a bankruptcy filer you actually become a better credit risk to creditors because they know once you file for bankruptcy you are barred from filing again for a certain time and also that you don't have other debts to pay off.

If I'm married do I have to file jointly with my spouse?
Not necessarily. Both you and your spouse do not have to file. But, the spouse that does not file may still be liable for debts incurred prior to and during the marriage.