Common questions about bankruptcy by Christy M. DeMelfi, Esq.
Credit Card Debt Stressing You Out? Facing Foreclosure of Your Home?
I may be able to help!
This month, I’ll address some common questions that potential clients often ask about bankruptcy. Question: Will I lose my house by filing for bankruptcy? Answer: Not necessarily. You may be able to keep your home in a Chapter 7 case, depending upon the equity in the home. You can normally keep your home in a Chapter 13 case, no matter how much equity so long as you pay your creditors in full.
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The Law Office of Christy M. DeMelfi, PC is a debt relief agency and assists people with filing for backruptcy relief.
Question: Will anyone know that I filed for bankruptcy? Answer: Normally no, not unless you tell them. It bankruptcy filings are not published in the newspaper or posted around town. It is a public record though, so if someone knows where to look and really wants to find out, they can. Most of the time, no one knows unless you say something. Question: Will I ever be able to get credit again? Answer: Yes. Getting credit may be more difficult. You may end up paying higher interest rates and having lower credit limits, but you can and will get credit again. Question: Can I keep my car? Answer: Normally yes. The answer depends upon the amount of equity in your vehicle though. If you have a vehicle, worth $20,000 that is fully paid for, then you may not be able to keep the vehicle. As most people do not have vehicles with that much equity, there is normally not a problem in keeping the vehicle. If you have a question that you want answered, please submit your question to me at christy@demelfilaw.com. Be sure to put in the subject line – Panorama Question. P SPONSORED BY BRAND
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