Experienced Guidance Through Bankruptcy
As attorneys with years of experience helping clients move on from financial issues, we at Minion & Sherman are more than prepared to answer your questions. Please read on, and know that the following gives you some general information about what happens in a bankruptcy case. The information here is not complete. In order to make an informed decision as to what is best for you, consultation with an experienced bankruptcy lawyer to discuss the specific facts of your situation is recommended
Do I need an attorney to file bankruptcy?
While it is possible to file a bankruptcy case pro se, that is, without the assistance of an attorney, it is extremely difficult to do so successfully. Hiring a competent attorney is highly recommended.
What types of bankruptcy are there?
There are several types of bankruptcy, each designed for a different type of person or entity.
- Chapter 7 bankruptcy is for individuals. In this case, your belongings will be sold to pay your debts. You may be able to keep some personal items and potentially real estate as well.
- Chapter 13 bankruptcy is meant also for individuals, the court will design a payment plan and a trustee will oversee the execution of it.
- Chapter 11 bankruptcy is for businesses, where they will continue operating with a payment plan in place.
Can I save my home?
Most Chapter 13 petitioners can hold on to their homes. Depending on the circumstances, a Chapter 7 petitioner may be able to retain his or her real estate holdings.
Will my boss find out?
Federal bankruptcy law prohibits both public and private sector employers from discriminating or taking any adverse action against a debtor because of a bankruptcy filing.
Does my spouse have to file?
No. However, the nonfiling spouse will not be relieved from any debts discharged under your filing. For example, your spouse will remain liable for his/her share of any jointly entered debts. However, he/she will not have bankruptcy noted in his/her credit report.
Will a bankruptcy filing stop my wage garnishment?
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We are a debt relief agency. We help people file for bankruptcy under the Bankruptcy Code.