Common agonizing bankruptcy questions
Will I lose My Property ?
A: No. You are allowed certain exemptions to protect your property in bankruptcy. Most people (over 98%) do not exceed these exemptions and do not lose any of their property. If you are one of those few people who do exceed their exemptions, We will discuss with you your options concerning the non-exempt assets: (1) letting them be sold, (2) paying the trustee for the value to the estate of such assets, or (3) filing a Chapter 13 bankruptcy, or (4) liquidation of some pre-petition. But we are ruthless in saving your assets so you are not cheated out of them whenever possible.
Should I keep Paying My House and Vehicle Payments If I want to Keep Them?
A: It depends on which chapter you file. If you file a Chapter 7 bankruptcy, if you are current with your payments and you have no equity or if all your equity is exempt, then you should continue those payments if you desire to keep such assets. (See “Reaffirmation” section also on the website concerning options on those post-bankruptcy). But if you are behind, you should make sure you are able to catch up in the arrears to assure you are not throwing good money away if the creditor proceeds to foreclose or repossess. If you want to keep the house, cure the arrears quickly before the creditor incurs more attorney fees and costs in starting the foreclosure action. If you want to keep the car and it is NOT cross-collateralized, then keep caught up on the payments forthwith before the creditor acts. Most secured vehicle creditors want your money, not the used vehicle back! However, rarely, but it happens sometimes where a rare creditor like Alaska Federal Credit Union sometimes may attempt to repossess the vehicle post – bankruptcy filing admitting you are totally caught up; however, if they do, your debt will be discharged anyway!
If you are in a Chapter 13 you must discuss what payments to make with your attorney as it will depend on whether you are in arrears on the house, whether you can catch up before the confirmation hearing, whether a vehicle will be paid off in full during your case, the interest rate and monies owed on it, and other factors .
What’s the difference between Chapter 7 and Chapter 13 bankruptcy?
A: That question is impossible to answer in short. You file a Chapter 13 only when there is an advantage for you to do so . Your attorney, after discussing all the facts, will advise you why or why not you should file which chapter! Basically, you have only two goals normally in any case: to keep everything you have equity in and to discharge all your debts. However, some debts are dischargeable in a Chapter 13 but not in a Chapter 7. You may have assets to protect with a Chapter 13 which may not be protected in a Chapter 7. You may not qualify to file one or the other because of prior cases or the amount of your debts! In short, after reviewing the facts of your case, Richard D. Granvold will advise you why you should file either a Chapter 7 or Chapter 13 and the reasons for that specific Chapter. He has had many clients who already filed a Chapter 13 with another attorney and when asked why are they in a Chapter 13 the clients state “I don’t know, the attorney told me to file it”. You will know why if you employ Richard D. Granvold!
How Quickly Can I discuss my case with you? NOW!
It is free. Call or email our law firm now. We prefer email messages with your name and phone number including area code and indicate how early and how late you can be called please so that you are not woken up. Some clients want to discuss at 6 am or later, or up to 9 pm which can be done! Call 24 hrs. Call on weekends and 7 days a week. Many clients are spoken to on weekends or while on lunch breaks or home with children ..simply stated, Richard D. Granvold can discuss your case when your time is convenient to discuss and when you sometimes desire privacy! He can discuss it with you and mail you what is needed or can hand you the same items after discussing with you at his office if convenient for you also! Do not call if you do not live in Western Washington though; rather call an attorney near you.
Can Student Loans be Discharged in Bankruptcy?
See the section on Student Loans on this website. Richard D. Granvold has more experience as a Plaintiff’s Student Loan Attorney in bankruptcy court than any attorney in Western Washington. Most bankruptcy attorneys have never in their careers filed a lawsuit to attempt to discharge student loans whereas Richard D. Granvold has met with over 200 persons to discuss those options and filed over 58 such lawsuits in bankruptcy court and you will see those results in the Student Loan tab on his website!
Contact us now for more information.