*Disclosure required by 11 U.S.C. § 528(a)(3): We, the law office of Tom Scott & Associates, P.C., are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Q: A state court judge orders the mother to pay the father $20,000.00 following a contempt hearing as a penalty for actual […]
Questions About Bankruptcy
Income & Assets: Basics of Bankruptcy – Chapter 13 vs. Chapter 7 – Part 1
In this second installment of our series “Basics of Bankruptcy,” we discuss reasons to file a Chapter 13 bankruptcy rather than the less complex Chapter 7 bankruptcy. WHY FILE CHAPTER 13 ANYWAY? When considering to file bankruptcy, the first decision that probably should be made is whether you should file either a Chapter 7 or […]
If my home has a second mortgage, can I file bankruptcy on just one of the mortgages and still keep the house?
Thanks for submitting your question. You can accomplish different goals if you declare bankruptcy, so you need to consider all of the details of your lenders’ promissory notes and mortgages, along with your complete financial and credit position, to determine your best course of action. This answer to your question does not consider your specific […]
What is bankruptcy?
Bankruptcy is a court supervised proceeding which is intended to give debtors a break from creditors’ collection activities while the court tries to determine if there is any way possible to try and get some money to creditors in exchange for debts being discharged (“going away”). You see, the goal under any chapter of bankruptcy […]
Are there different types of bankruptcy?
There are several chapters of bankruptcy including Chapter 7, Chapter 9, Chapter 11, Chapter 12, and Chapter 13. The majority of consumer cases are either Chapter 7 or Chapter 13. A few of our business clients must file Chapter 11 (which is a business reorganization) or Chapter 12 (which is exclusively for farmers). Chapter 9 […]
What is the process to file bankruptcy?
All you need to do is contact our office and set a free consultation with one of our experienced bankruptcy attorneys. Each of our lawyers has focused almost exclusively on the bankruptcy law for at least 15 years, and we feel confident that we will be able to answer your questions and reduce your stress. […]
How long does the bankruptcy process take?
In a Chapter 7 case, once the case is filed we will attend a meeting with the court approximately 30-45 days after the case is filed and the debts will be discharged approximately 60 days later. Therefore, we can expect a total period of approximately four (4) months from filing date to discharge date. In […]
Is bankruptcy right for me?
While we will be able to assist you with the entire bankruptcy process and will answer all of your questions to make sure you understand the pro’s and con’s of filing, whether to file remains a personal choice. In our opinion, however, if you feel like the burden of your debt is starting to create […]