Your Personal Bankruptcy Attorney

General Bankruptcy Concerns

Is bankruptcy honest?

Bankruptcy offers good people overburdened by debt a fair, honest opportunity to move forward in life. Most people work hard to meet all their financial obligations. Unfortunately, sometimes unforeseen or uncontrollable situations arise which can affect people’s lives forever.

In the U.S., we’re lucky to have a legal right to seek protection from creditors and relief from unmanageable debts, so we can have hope for a better future. Bankruptcy is a legal right that protects good, honest people from lawsuits, harassment, wage garnishment and other burdens imposed by creditors.

Bankruptcy offers good people a fresh start in life

Bankruptcy is an honorable, practical way to resolve debt problems that may seem hopeless. And, it’s a sensible business practice – It’s used by major corporations and the rich-and-famous, as well as by ordinary individuals and their families.

Will I lose my property if I file bankruptcy?

Bankruptcy is designed to give you a fresh start in life. But, it would be very difficult for you to start life over again with nothing. In fact, most people don’t lose anything at all during a bankruptcy. Federal bankruptcy laws allow each State to decide which property is protected during bankruptcy.

Here in Arizona, you’re allowed to retain most of your personal and household property, and your home’s equity up to $150,000, plus some of the equity in your car, as well as most types of retirement plans. Of course, you’re also allowed to keep most of the tools of your trade (with some exceptions).

Can I own anything after I file bankruptcy?

Some people mistakenly believe that they cannot own anything after filing a bankruptcy, yet that isn’t true. Most of your normal belongings will be protected.

On the day you file bankruptcy, you’ll begin a fresh start in your credit life

In fact, you’ll be allowed to keep all the property which is exempted and protected, and generally anything you’ve acquired since your bankruptcy. And, any money you earn after filing is yours. Anything you owned or have owed to your before filing bankruptcy will be subject to the court’s rules.

What could I own after bankruptcy?

After bankruptcy, if you work diligently and manage your credit carefully, you’ll be able to own just about anything.

Can I re-establish my credit after bankruptcy?

In the past, it was often difficult for people to rebuild credit after filing a bankruptcy. Nowadays, most stores and banks are willing to give people a second chance. Frankly, a bankruptcy won’t worsen your credit any lower than it already is.

After you’ve gone through bankruptcy, you’ll be in a better position to keep your bill payments current, which will greatly improve your creditworthiness.

Will bankruptcy erase all my debts?

Bankruptcy will eliminate nearly all debts. Still, some debts aren’t removed during bankruptcy, including: Alimony, child support, fines, restitution, some types of taxes, student loans, any loans obtained through fraud, debts following a DWI, and debts which resulted from any “willful and malicious” harm.

Can I shield my property by hiding its ownership, or giving it to a family member before I file for bankruptcy?

No. It’s against the law to conceal your property or fail to disclose it during bankruptcy. The Bankruptcy Court Trustee will work to recover property that has been improperly transferred before a bankruptcy filing.

Will bankruptcy affect my job?

The bankruptcy laws prohibit any employer from discriminating against anyone based on their bankruptcy filing.

I’ve filed a bankruptcy in the past, can I file another?

After a previous Chapter 7 bankruptcy filing, you must wait 8 years before filing again under Chapter 7. Yet, you can still file a Chapter 13 bankruptcy within that eight-year period.

Must I pay alimony-maintenance, child support, and settlements?

Yes. In the Bankruptcy Code, 11 U.S.C. § 523(a)(5) says that someone filing bankruptcy usually can’t discharge obligations to pay child support, or other payments to a former spouse. Chapter 13 may discharge property settlements.

Will I need to be completely broke before filing bankruptcy?

No, there’s no legal requirement that you be destitute before filing bankruptcy. You don’t need to wait until you’re unemployed, homeless, or without property. We can help you file bankruptcy without affecting your job, losing your home, or giving up your property.

Burdened by debt and need a fresh start? We can help!

The most effective bankruptcy attorneys in Tucson

The Law Office of Cheryl K. Copperstone P.C. provides relief and protection for people struggling with debt. We’ll help take the weight off your shoulders, so you can have a fresh start.

To learn more about bankruptcy and debt relief, call Tucson’s best bankruptcy lawyers at 520-628-8888