In many cases, qualified IRA accounts are considered as exemptions in a personal bankruptcy. Some IRA accounts may not qualify, so your situation may need to be looked at in more detail.
For a free consultation about your circumstances, please contact us.
Archives for July 2013
Can I keep my tax refund?
Being able to keep your tax refund during bankruptcy will depend on a few circumstances, so be sure to have your situation properly evaluated by your bankruptcy attorney before you cash a tax refund check from the U.S. Treasury.
For immediate assistance, please contact us.
Can I keep my car or truck?
Yes, there are several different chapters of bankruptcy and we will make sure that you are able to keep your vehicle whether you are current on payments, whether you are behind on payments, or even if you own it outright.
A vehicle is necessary for your “fresh start” and both courts and creditors agree that you will be allowed to keep it.
Related articles: Creditors
Can I keep more than one vehicle?
Whether you can or should keep more than one vehicle after you file for bankruptcy will depend on several factors regarding your realistic needs and vehicle titles. You should consult with your bankruptcy attorney before you sell any vehicles you currently own.
For immediate assistance, please contact us.
Does bankruptcy affect my driver’s license?
You will not lose your driver’s license if you file for bankruptcy.
If your driver’s license has been suspended, in a select few cases, such as where you lost your license only because you failed to pay court-ordered damages resulting from a traffic accident without injury, you may be able to have it reinstated.
For immediate assistance, please contact us.
Can I eliminate my credit card debt?
Yes, upon completion of a bankruptcy your credit card debt will be discharged (meaning that you no longer owe the debt). We have helped tens of thousands of Hoosiers eliminate credit card debt.
Can I discharge medical bills?
Yes, just like credit cards, the successful completion of a bankruptcy will discharge medical bills.
A very high percentage of our clients feel overwhelmed by medical bill collectors and need relief offered by bankruptcy to stop the collection and get rid of that debt.
Related articles: Creditors
Can I discharge federal, state, or local taxes?
Under limited conditions, you may be able to discharge some taxes you owe, but you need to carefully determine if your tax debt actually meets those conditions.
If you have tax debt and are considering filing for bankruptcy, you should definitely contact us or consult with another bankruptcy attorney.