Standard Legal offers only personal bankruptcy legal forms software. And with good reason…
Bankruptcy Questions
Answers to Frequently Asked Bankruptcy Questions
Can I File Either Individually or Jointly with Standard Legal’s Bankruptcy Software?
A Chapter 7 or Chapter 13 Bankruptcy filing can be made individually for a single person or jointly by a married couple using the Bankruptcy legal forms software from Standard Legal. A married person also can file individually if the circumstances of the financial situation warrant such a petition. Strategies and overviews for this type … Read more
Can a Joint Mortgage Be Included in an Single Individual’s Personal Bankruptcy Filing?
A joint mortgage (a mortgage signed for by two or more parties) can be included in an individual’s personal bankruptcy filing. But an individual filing of Bankruptcy does not discharge the mortgage debt for all parties.
If I’ve Fallen Behind on a Mortgage But Have a New Job, Should I File Chapter 13 Bankruptcy to Keep My House?
A Chapter 13 bankruptcy case allows one who is behind on secured debts to “catch up” on these debts through the chapter 13 plan and repayment process.
Using disposable income (the debtor’s income in excess of allowed expenses), the debtor pays the Bankruptcy Trustee a monthly amount that will pay the past due amounts in full over time.
In Bankruptcy, Who Notifies Creditors to Stop Garnishing My Wages?
If the creditor is listed on the Bankruptcy filing’s petition schedules, the court will provide notice to that creditor to immediately cease the garnishing of wages.
However, it certainly would not be inappropriate for the debtor to contact the entity garnishing his or her wages and inform them in writing of the bankruptcy filing and providing the bankruptcy case number to the creditor. In doing so, the creditor is made aware of the filings through a second means, and has no excuse for failing to stop the garnishment of wages.
If a Debt Has Been Written Off by a Creditor, Should I Still Include It in My Bankruptcy Filing?
A debtor cannot always be sure that a debt has not been sold or assigned to a collection agency or other third party debt collector source. Nor can a debtor be 100% sure that the creditor might not reactivate a past due account for collection at a later date.
Is There a Time Period I Must Wait After Bankruptcy to Buy a New Home?
There are no bankruptcy rules or laws that would prevent or prohibit a person from purchasing a new home or receiving a mortgage after a discharge is entered for their case.
However, a bankruptcy filing often negatively affects a debtor\’s credit score or rating significantly.
Can a Person Use Bankruptcy to Avoid Paying a Loan Given to Pay Their Bankruptcy Attorney?
A filing of a bankruptcy petition potentially discharges all debts incurred prior to the filing date of the petition itself (i.e. as of the date that the case is filed with the court).
However, certain debts are non-dischargeable and other debts can be challenged directly. For example, debts incurred with the deliberate intention of being discharged in bankruptcy can be challenged.
Can the Bankruptcy Court Take My Income Tax Refund?
Short answer, yes: the Trustee administering a bankruptcy case is permitted to take a tax refund that is paid to the debtor from the IRS (as well as any State tax refund).
The theory is that such refund is an asset of the debtor that can be used to pay creditors.
But there is one consideration, however.
If I File Bankruptcy Today, Can My Wages Still Be Garnished Tomorrow or Next Week?
The filing of a bankruptcy petition will “stay” or stop any garnishment proceedings. If wages are garnished after the Bankruptcy case is filed, the creditor should be required to repay this money to the debtor or to the bankruptcy estate (i.e. the trustee assigned to oversee the bankruptcy case). Complete information on the Bankruptcy filing … Read more