Bankruptcy Questions Answered by a Licensed Attorney

Описание: This is Leonard Boyer, attorney at law, and I'm here to, to talk to you about some frequently asked questions about bankruptcy that I hear every day. I'm also here to shatter myths and. Get you away, get you to realize that only a bankruptcy attorney is is licensed to practice law in New Jersey. No debt settlement company.

No debt collection company. No debt consolidation service, or no other scammer is licensed to practice law. When you have a legal problem, you need an attorney. Now I'm als. I'm frequently asked, what's a chapter seven bankruptcy, and I wanna set the record straight. Although a chapter seven bankruptcy is commonly known as a liquidation bankruptcy, that's not what's necessarily going to happen.

In fact, it happens only in a few cases. In most cases, you're gonna liquidate your debts, your credit cards, medical bills, in some instances. All are part of a student loan can be liquidated and epass. If you have traffic, tolls, penalties and fines will be more willing to negotiate than if you hadn't filed bankruptcy.

Bankruptcy is your ticket to rebuilding your life. The value of all your personal property in a ba, in a Chapter seven bankruptcy or Chapter 13 bankruptcy for that matter, is what it's worth. Used, not what you paid for it, not what it, not what it costs. It's brand new, but what it's worth right now used and I do something for you.

That very few attorneys know how to do. If at all, I give you value added services. I can guide you to obtain a car even after you filed bankruptcy. I will help you rebuild your credit score and I will be with you before, during, and after the bankruptcy. I'm also asked. What is a Chapter 13 bankruptcy? A Chapter 13 bankruptcy is a reorganization or a wage earner's plan.

Now, what that simply means that for the vast majority of people, is they have too much, either too much equity in their home to file a chapter seven and their mortgage is current or. They've had, they've fallen on hard times and they're behind on their mortgage If they're behind on their mortgage, through the Bankruptcy Court's mortgage modification program, and by filing a Chapter 13 bankruptcy, I will be able to get you a new 40 year mortgage at prevailing rates.

And that will also help rebuild your credit score. You can get a new house in as little as two years after a Chapter 13 bankruptcy is over depending upon the facts and circumstances of your situation. Chapter 13 can last three to five years, but it doesn't have to. That would be something that would be gone over in a legal consultation today.

What I'm providing you with is some basic information and education so that you can in so that when you see consult with me or another attorney, either by Zoom or in person. You can, you will be able to obtain legal advice. There is no legal advice being given here. The only advice I'm going to give you that can in any way, shape or form be construed as legal is avoid working with any anyone that's not a licensed attorney, because technically you could be.

Considered an accessory to the unauthorized practice of law, but that's beyond the scope of this video. Suffice it to say you can, you need to avoid it. Now, I'm also asked can I save my home and still file for bankruptcy? And the answer is frequently yes. If you're current on your mortgage and you just have credit card debt, medical bills, or various other debts, but your mortgage is current and your property tax is paid and your house is insured, you will be able to keep your house in a Chapter seven bankruptcy.

You will also be able to keep your house in a Chapter 13 bankruptcy, even if you're behind on the mortgage. You see when. Somebody files a complaint against you in state court to foreclose on your mortgage, and you ask for a mortgage loan modification. You're on your own. You're dealing with low level collectors who will tell you just about anything, and you'll be amazed how often your paperwork gets conveniently lost.

But when you work with me and the bankruptcy court. We file a Chapter 13 with an application to get you admitted to the bankruptcy court's loss mitigation program. All your documents are submitted to the court and the lender electronically. They're timestamped. The lender can't conveniently lose things and play games like they can in state court, so don't.