Bankruptcy Law FAQs

A: California Bankruptcy Attorney Diane Anderson Answered The Question “What Can You Keep In Bankruptcy?”

• Most people do not lose any of their belongings in bankruptcy. The end goal of bankruptcy is to get you back on your feet financially. Therefore, your basic necessities are protected in bankruptcy, so as to help you re-establish yourself.
• The equity in your home and most of your personal belongings will, in all likelihood, be protected in bankruptcy.
• The exemptions (the bankruptcy law which protects your assets) are very complicated and you should consult an attorney to maximize the protection that you are afforded under Bankruptcy Law.

Contact us today to work with a lawyer who cares about your situation. Work with a team of experienced bankruptcy attorneys to learn more about your rights and responsibilities.At Law Offices of Diane Anderson, our bankruptcy attorney is highly devoted to assist you with the finest bankruptcy plan to fit your needs. Learn more about your options and alternatives. There are multiple types of bankruptcy that can help individuals be comforted of their debts. Contact our California bankruptcy attorney for a Free Consultation. Our California bankruptcy attorney will help you with filing bankruptcy and help you get a financial fresh start.

A: Contrary to common belief, income taxes can be discharged in bankruptcy provided that:

• The taxes are at least three years old.
• The tax returns must have been actually filed at least two years ago.
• Any assessment was more than 240 days ago.
• The debtor did not engage in any type of fraud or tax evasion.

A: Student loans are not dischargeable in bankruptcy, except in cases where it would create an extreme hardship on the debtor to pay back the student loan.

A: No.

A: Property settlement agreements as a result of a divorce can never be discharged in bankruptcy.

A:

• Anyone that is overwhelmed with financial problems should consider filing bankruptcy. Financial problems greatly affect your entire life causing some, if not all, of the following problems:
• 1. Physical ailments (ulcers, high blood pressure, insomnia).
  2. Problems within a marriage and within a family due to the stress of the financial situation.
  3. Negative affect on your job performance.
  4. # Depression and a feeling of being overwhelmed.
• Bankruptcy should be considered as medicine for those who are financially ill.
• Creditors can make you feel guilty and ashamed, but creditors are NOT on your side. They forget that it is a long-standing tradition in the United States, most other countries, and in most religions to forgive debts and let a person get a fresh start.

Attorney Diane Anderson answered the question “Who Should Consider Bankruptcy?” If you are considering filing bankruptcy, call The Law Offices of Diane Anderson.  By filing bankruptcy, you can wipe out most of your unsecured debts and keep most of your property. It’s important to seek the help of a compassionate bankruptcy attorney like Diane Anderson. A good attorney can bring a profound value to his clients and you should not delay in seeking legal representation. Our California Bankruptcy Law Firm has an excellent reputation among mediation professionals in California.

A:

• Your credit is not hurt by the bankruptcy itself; what hurts your credit is that the debts are not paid. The way to rebuild your credit is to buy an inexpensive item on time and pay for it; then buy something else and pay for it, etc.
• An automobile is one of the easiest items to buy after the bankruptcy is over. Check out the automotive section of the newspaper.
• You can maintain your bank accounts and all of your utilities.
• You can make arrangements to pay any creditor, if you want or feel obligated.
• Bankruptcy will stay on your credit report for up to 10 years, but if you have a decent income, you will find credit. With over a million people a year filing bankruptcy, creditors would run out of customers if they refused to extend credit to everyone who has filed bankruptcy.

Bankruptcy Attorney Diane Anderson answered a question – Will My Credit Score Be Ruined?Having a knowledgeable and experienced bankruptcy attorney by your side will facilitate you to relieve your worry about your credit score and would allow you to give your best testimony. We direct our clients through the bankruptcy process in an attempt to ease some of the difficulties that come across during proceedings. When considering bankruptcy, you may have queries about what type is right for you. It’s important to seek the help of an experienced California bankruptcy attorney Diane Anderson.In order to prepare for your meeting of creditors, simply review your bankruptcy paperwork and make sure you answered everything truthfully and completely. If you see any discrepancies, contact our bankruptcy attorney at Law Office of Diane Anderson right away.

A: You can file bankruptcy more than once. To file another Chapter 7 bankruptcy, there must be at least six years time from discharge to discharge. You can file a Chapter 13 bankruptcy at any time, so long as you intend to pay your creditors 100%. If you are going to be paying your creditors less than 100%, then it needs to be at least six years from your last discharge.Attorney Diane Anderson answered a Frequently Asked Question Can I file Bankruptcy Again? By filing bankruptcy, you can wipe out most of your unsecured overdue debts and keep most of your possessions. As many know, debt causes all type of troubles including health, marital, physiological and self-esteem. Getting rid of undue debt with the assistance of a knowledgeable and experienced bankruptcy attorney can subsequently ease some of that stress. Be sure to return calls and emails from your attorney. If something significant happens in your life, let your bankruptcy attorney know about it. One of the most significant things we can do is educate our clients about what you can expect as your case progresses.When considering filing bankruptcy for a business, you may have questions about what type is right for you. It’s important to seek the help of a concerned bankruptcy attorney like Diane Anderson. Call us today for free initial consultation. Call our offices are located in Folsom, and Jackson.