Answers To Common Bankruptcy Questions

From Experienced Bankruptcy Attorneys In Topeka, Kansas

Many people neglect to get the bankruptcy protection they need and deserve because of misconceptions and myths. At our law firm, we provide our clients with information about bankruptcy and their options in order to empower them to get debt relief and take control of their finances.

A few common questions that we answer for our clients include:

Bankruptcy FAQ

  1. Can bankruptcy help me stop mortgage foreclosure and save my house? Many people in Kansas have fallen behind on their mortgage payments, and you are not alone. Once we help you file for bankruptcy, either Chapter 7 or Chapter 13, the court will issue an order for relief, and this places an automatic stay. The automatic stay directs all of your creditors to immediately cease collection efforts, including foreclosure. You could still ultimately lose your home, depending on the specifics of your situation and whether your bankruptcy is handled properly. As experienced debt relief attorneys, we can help you fight for your home through bankruptcy and various alternatives.
  2. Can I keep my car if I file for bankruptcy? In many cases, bankruptcy filers do not lose their cars as a result of filing. In Chapter 7, you can decide whether you want to keep the car. You can walk away from the car and discharge the debt, or you can keep the car and continue to make payments. In Chapter 13, you would also continue making payments, potentially through your repayment plan.
  3. Can I get rid of my student loans by filing for bankruptcy? Student loans are difficult, but not impossible, to discharge in bankruptcy. We have accomplished this feat before. We help our clients find creative solutions to deal with debt one way or another.
  4. If I file Chapter 13, will I have to pay back all of my debts? This is a common myth. People do not realize that they can get the similar results in both Chapter 7 and Chapter 13 bankruptcy. When you file Chapter 13, you will file a payment plan to pay back a portion of your debt over three to five years. The specifics of your plan will depend on your debt burden, your income and the skills of your bankruptcy lawyer.

  5. If I divorce my spouse, will I be required to take on his or her debt? Divorce and bankruptcy are very much interconnected. If you or your spouse has significant debts, make sure your divorce attorney is skilled and experienced in bankruptcy law. Depending on the types of debt involved in your divorce and when or how they were acquired, the debts may belong to either both spouses or just one. We help our clients determine whether it is most advantageous to pursue bankruptcy or alternatives to bankruptcy before or after separation.
  6. Are there alternatives to bankruptcy? We take great pride in finding effective alternatives to bankruptcy for our clients. We help people restructure their mortgages; complete deeds in lieu of foreclosure; negotiate favorable debt settlements; liquidate property; and come up with payment plans outside of bankruptcy, among other successful strategies.

  7. Is there life after bankruptcy? How can I rebuild my credit? Absolutely. While it is true that bankruptcy will be a hit to your credit, taking the right steps can lead to a bright financial future. We give our clients tips to restore their credit after bankruptcy. To make the most of your fresh financial start, make Chapter 13 payments on time, monitor your credit report, and correct errors and research opening a prepay credit card from a reputable bank.

Get Your Questions Answered. Talk To A Lawyer For Free.

Bankruptcy is not a one-size-fits-all solution, and we don't treat it that way. If you want to know more about how bankruptcy or another form of debt relief might be able to help you, please contact us to discuss the details of your situations. We offer initial consultations free of charge, and you will be under no obligation to hire us. Please call 785-379-6642 or send us an email to schedule your consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.