Question 1

How can bankruptcy help save my house?

Accepted Answer

Bankruptcy can help stop mortgage foreclosure and allow you to save your home. The automatic stay that goes into effect when you file for bankruptcy can prevent your lender from foreclosing on your home, giving you time to catch up on missed payments or work out a plan to keep your home.

Question 2

What debts can be forgiven in bankruptcy?

Accepted Answer

Bankruptcy can help discharge a wide range of debts, including credit card debt, medical bills, personal loans, and certain types of tax debt. However, some debts like child support, alimony, and student loans are generally not eligible for discharge.

Question 3

How does bankruptcy stop collection activities?

Accepted Answer

When you file for bankruptcy, the automatic stay immediately goes into effect, which prohibits creditors from continuing any collection efforts against you, including phone calls, letters, lawsuits, garnishments, and repossessions.

Question 4

What property can I keep after filing for bankruptcy?

Accepted Answer

Bankruptcy exemptions allow you to protect certain assets, such as your primary residence, household goods, vehicles, and retirement accounts. The specific exemptions available will depend on the state you live in and the type of bankruptcy you file.

Whitten & Whitten

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How can bankruptcy help save my house?

What debts can be forgiven in bankruptcy?

How does bankruptcy stop collection activities?

What property can I keep after filing for bankruptcy?

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