What creditors can and can’t do during bankruptcy

What creditors can and can’t do during bankruptcy

 Well, during the bankruptcy, the first thing that they can’t do is they cannot continue to try to collect the debt from you. So, once the bankruptcy is filed — now keep in mind, sometimes it takes a week or two for them to receive the notice from the court —...
What mistakes should you avoid before filing bankruptcy?

What mistakes should you avoid before filing bankruptcy?

 The main mistakes that someone could make, uh, before filing bankruptcy would be to make any big changes or transfers or movements of money or assets close to the bankruptcy without checking with their attorney, such as, uh, your 401k or IRA. Those are totally...
How can you rebuild credit after bankruptcy?

How can you rebuild credit after bankruptcy?

To rebuild your credit after bankruptcy, the first thing—and the simplest thing, but for many people often the hardest—is to pay any obligations and debts after the bankruptcy on time every month. That’s the part that normally got people in trouble before, so they...
What does a bankruptcy trustee do?

What does a bankruptcy trustee do?

A bankruptcy trustee oversees the bankruptcy process. First, they conduct what’s known as the Section 341 meeting, which refers to the section of the Bankruptcy Code that governs it. The trustee oversees a brief 5- to 10- or 15-minute meeting or hearing where basic...
Can I file without my spouse in Texas?

Can I file without my spouse in Texas?

 Yes. Uh anyone can file bankruptcy without their spouse. That’s pretty common thing that uh if one of the spouses doesn’t have any debt out there and it’s just all in the name of one of the spouses that the other one will try to stay out and keep...
Are Social Security benefits protected in bankruptcy?

Are Social Security benefits protected in bankruptcy?

 Yes, social security benefits are definitely protected by bankruptcy. The bankruptcy trustee or court cannot uh get at or attempt to take any of the social security benefits that you get each month. And uh, another thing to note, even for people that get quite a bit...