1. What is Bankruptcy? Bankruptcy is a right that you have that allows people to start over on credit by eliminating certain bad debts and keeping the good debts. There are 2 types of bankruptcy available. The type you qualify will be determined at your consultation.
   
   
   Chapter 7- allows for total liquidation of bad debt, while allowing you to keep the debts you want to keep and can afford to keep paying on, such as a house or car.
   
   Chapter 13- allows for liquidation of bad debt over a 36-60 month period, while allowing you to get current on the debt you may be behind on and want to keep. You will also eliminate your bad debt by paying a minimum of 10% of your general debt. You will have to be able to make a monthly payment in order to qualify.
   
   
2. Will I lose all my property? NO! The law allows you to protect $9,350-$17,500 of personal property.
   
   
3. Will I lose my home? NO! The law allows you to protect $17,200- $35,200+ equity in your home. If you are not current on your home, a Chapter 13 allows you to become current by playing catch up on your mortgage payments by making a monthly payment each month. Assuming that you can afford to make a monthly payment.
   
   
4. Will all lawsuits stop, even though a judgment has been rendered against me? YES!
   
   
5. Can I stop my garnishment? YES! Once you have filed bankruptcy all collections against you MUST STOP.
   
   
6. Will the harassing creditor calls stop? YES! Once you have retained my services with the $100 retainer fee, you will start referring all creditor calls to ME!
   
   
7. Will I ever be able to get credit again? YES! Believe it or not, your credit worthiness can improve after filing for bankruptcy, simply because you have eliminated a lot of debt. That allows for an improvement of your debt to income ratio. For example, mortgage companies can begin to look at you as soon as 2 years after you have filed bankruptcy. All other creditors will look at you almost immediately after your debt has been discharged in bankruptcy.
   
   
8. Can I be denied for Bankruptcy? NO! Everyone qualifies for bankruptcy. As long as no fraud is involved or you fail to comply with what is required of you in the bankruptcy process.
   
   
9. Will I lose my tax refund? Depending upon the time of the year that you file for bankruptcy, you may lose part, if not all, of your tax refund. Generally, people do not lose all of their refund. The positive side is that you may lose your tax refund but it will be in exchange for all the debt that you will be eliminating.
   
   
10. How much does it cost to get started? A $100.00 retainer fee.