To a non-lawyer, and even some lawyers, Bankruptcy laws can be very complex and confusing. As a bankruptcy attorney, I thought I’d address some common bankruptcy questions I’ve seen over the years. While these answers aren’t a substitute for meeting personally with an Auburn bankruptcy lawyer to assess your unique personal and financial situation, it’s a good start in getting some much needed answers to bankruptcy questions we hear often.

How long does the automatic stay last?

What happens when you declare bankruptcy depends on which Chapter of bankruptcy you file. While filing Chapter 7 bankruptcy and Chapter 13 bankruptcy differ in their outcomes, there are a few things in common. One of those things is the automatic stay. After you file for bankruptcy, an automatic stay comes into effect that bars your creditors from any type of collection activities against you.  If you have filed for bankruptcy within the past year, you receive a limited, 30 day stay against collection attempts. However, if it’s your first time filing bankruptcy or it has been over a year since your last dismissal, your automatic stay will remain effective until the bankruptcy judge removes the stay at the request of a creditor, the debts are discharged, or your case is closed.

Can I file bankruptcy alone if I am married?

It’s not uncommon that one spouse wants to file bankruptcy, while the other doesn’t. It is possible to file for bankruptcy together or separately. You’ll want to discuss this decision with your spouse of course, as well as, your Auburn bankruptcy attorney.

How can I build credit after bankruptcy?

It’s common knowledge that your credit will take a hit when filing bankruptcy, however, once you successfully complete your bankruptcy, there is hope for credit improvement. Once your debts are discharged at the end of bankruptcy, it’s important to pay very close attention to your credit report. You want to attempt to clear up any remaining blemishes on your credit report and start slowly rebuilding your credit score will small and well thought out lines of credit. Taking out a loan with a savings account as collateral is an excellent way to start adding positive marks on your credit report. While the fees can be high, a secured credit card can also improve credit scores, provided that you take out the card, make small purchases and pay them off right away.

Can Bankruptcy Discharge Lawsuit Judgments?

If you have been sued by a creditor,  it is likely they have obtained a judgment against you. Using a Chapter 7 or Chapter 13 bankruptcy it is possible to discharge this type of debt.

When filing bankruptcy it is inevitable that questions will arise, therefore finding an experience Auburn bankruptcy attorney is critical to successfully having your debt discharged through bankruptcy. When you hire a Stockin bankruptcy attorney, you are gaining access to years of bankruptcy experience and will be able to find out the answer to other questions that naturally arise during the course of your bankruptcy case.

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