Are you dealing with a mountain of debt? Read our 4 bankruptcy tips that may help your case, then call our South Jersey attorney for help.
1) Duration Of A Bankruptcy On Your Credit Report
I got a phone call the other day from a potential client wanting to file for bankruptcy. One of the big questions that a lot of people have and is foremost in their concerns is, “How long does a bankruptcy stay on my credit report?” It would depend on the type of bankruptcy filed. A Chapter 7 bankruptcy will reflect on your credit report for up to ten years, and a Chapter 13 for seven years. During that time, it’s important to know that your credit health will improve, your credit score will improve, and you can actually be approved for a mortgage or a car loan within two years.
2) Dealing With The Creditors After Bankruptcy
A question some clients have is, “What do I do if my creditors contact me after I’ve already filed for bankruptcy?” The answer is they should not be contacting you. However, if they do, inform them that you are in bankruptcy and give them the number of your attorney. If you have any other questions regarding this, please contact our office.
3) Falling Behind On Mortgage Payments
A lot of potential clients who call our office wonder about whether or not it’s too late to file for bankruptcy once they’ve already fallen behind on their mortgage payments. The answer to that question is it’s probably the perfect time for you to file for bankruptcy. Filing for bankruptcy can protect your home from being foreclosed on or from going up for a share of sale. If you have any more questions about this, please contact our office.
4) What Happens to Your House and Car in a Bankruptcy
In talking to people who are considering bankruptcy, the number one concern most people have is, “Will I lose my home or my car?” The answer is no. In fact, quite the opposite is true. Bankruptcy is a means to protect your home and your car, as well as other assets. If you are in danger of losing your home or your car, or you just want to protect your home from a share of sale or a foreclosure, please call our office for more information.
Are you or a loved one dealing with a mountain of debt and have questions? After reading our 4 bankruptcy tips that may help your case, contact experienced South Jersey bankruptcy lawyer Andrew Carroll of All Jersey Bankruptcy today for a free consultation and case evaluation.
We are dedicated to giving you the answers that you need in order to make an informed decision about whether bankruptcy is the best decision option for you.
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