Frequently Asked Questions (FAQs)
1. What happens after I file bankruptcy?
After filing for bankruptcy you are immediately protected from all actions of your creditors. Your creditors can no longer call you at work or home, garnish your wages, foreclose on your home, or repossess your automobile.
2. Will I lose all of my property by filing bankruptcy?
Most of your property including your home, automobile, furniture, household goods, pensions, profit sharing, IRA’s, 401k’s, retirement plans, wedding rings and family keepsakes are usually EXEMPT. This means that in most cases, you can file bankruptcy and eliminate your debts while retaining all of your exempt property.
3. Will I lose my job by filing bankruptcy?
Employers are not allowed to fire someone or to take disciplinary action against you solely because you file bankruptcy.
4. Do I have to fill out a large paperwork packet?
We complete almost all of the paperwork for you.
5. Can I eliminate credit card debts, pay-day loans, and medical bills by filing bankruptcy?
Yes. Bankruptcy usually eliminates all of these debts and gives you a fresh start.
6. Can I save my home from foreclosure by filing bankruptcy?
Yes. By filing a Chapter 13 bankruptcy you may usually take 3 to 5 years to re-pay your past due house payments.
7. Can I save my automobile from being repossessed by filing bankruptcy?
Yes. By filing a Chapter 13 bankruptcy you may usually take 3 to 5 years to repay your past due automobile payments. We may also be able to lower your automobile payments.
8. Why file for bankruptcy?
Once you file for bankruptcy, you can begin to rebuild your life without worrying that your wages will be garnished, your bank account attached, or your property seized. Your creditors cannot call you at work, threatening you and cannot harass you. Remember, bankruptcy laws were designed to help you. End the stress, and get a fresh start.
9. Should I be embarrassed about having to file bankruptcy?
NO! The bankruptcy laws were designed to help you turn your financial life around. By only making the minimum monthly payments on most debts you will be paying for many years and you may still not be out of debt. If you use one credit card to pay another you are simply getting yourself deeper in debt, with no solution in the end. Also check out our Famous BK Filers page to see the many celebrities, sports figures, and politicians who have filed bankruptcy to turn their lives around. They realized that the bankruptcy laws were there to help them get back on their feet and to give them a fresh start. You too are entitled to a fresh start!
10. Should I bring any documents with me to the initial consultation?
At the initial consultation, we will ask questions regarding your financial situation. If you are able to give general information about your financial situation without resorting to documents, then it won’t be necessary for you to bring all of your documents to the initial consultation. You will only need to bring your two most recent pay stubs. If you are married, you will also need to bring your spouse’s two most recent pay stubs as well.
11. How much will it cost for me to file bankruptcy?
The cost of filing bankruptcy varies depending on which chapter you file, the complexity of your case, and the number of creditors you have. The Law Offices of W. Kirk Moore is pleased to provide you with free consultations where we quote you a flat rate price to represent you in your bankruptcy case.