The Automatic Stay Stops The Wage Garnishment When you file for bankruptcy, you obtain an automatic stay. The automatic stay is the instrument which basically tells creditors that they can no longer take certain actions in an effort to collect a debt from you. If you are being garnished and you decide to file bankruptcy,+ Read MoreThe post What Happens With My Wage Garnishment Prior To Filing For Bankruptcy? appeared first on David M. Siegel.

Positive Experience After Filing Bankruptcy The overwhelming majority of my clients who go through filing bankruptcy through my office find it to be a very positive and rewarding experience.  They get to start over again financially.  They are allowed to obtain credit immediately after filing and that might take the place of a credit card+ Read MoreThe post What Do Clients Experience After Filing Bankruptcy? appeared first on David M. Siegel.

Information For You Bankruptcy Attorney When you are filing for bankruptcy, your attorney is going to want to know a series of information from you.  Most importantly, he’s going to want to know what you own, what you owe, what you earn and what you spend.  In my office, we have developed a confidential bankruptcy+ Read MoreThe post What Information Do I Need To File For Bankruptcy? appeared first on David M. Siegel.

I’m Northern Virginia Bankruptcy Lawyer Robert Weed. For nearly twenty years, I’ve served people in Herndon from my office in Sterling, VA. Herndon bankruptcy rate–one family of every ten since 2007 Herndon is located in western Fairfax County.  Fairfax is the third highest income county in America, (Loudoun is first) and Herndon has higher income […]The post Herndon Bankruptcy Lawyer Information appeared first on Robert Weed.

The Percentage Will Depend Many clients want to know what percentage is going to get paid back to creditors if they file chapter 13 bankruptcy. The answer to this question depends on a number of different factors. First, the debtor’s income is factored into the equation right from the start. Second, we have to take+ Read MoreThe post What Percentage Gets Paid Back In A Chapter 13 Bankruptcy? appeared first on David M. Siegel.

A Chapter 7 bankruptcy case can take can take anywhere from 3 to 4 months if someone moves very quickly.  Allow me to explain.  Chapter 7 involves the filing of a bankruptcy petition.  The bankruptcy petition has to be prepared, signed by the client; the client must then take credit counseling and provide the most+ Read MoreThe post How long does a Chapter 7 bankruptcy case take? appeared first on David M. Siegel.

The classic bankruptcy family law conundrum is whether to file bankruptcy before or after a divorce. We think about about bankruptcy addressing the claims of third parties against the spouses. But consider the impact of a bankruptcy discharge granted to one spouse prior to the resolution of the divorce. What are the options and alternatives for the non filing spouse? Our local Inn of Court considered this question with a local family law judge, a room full of bankruptcy practitioners and the two lawyers who’d argued this question to a family judge. The facts were these:  during the course of a divorce, Wife filed Chapter 7 and received a discharge.  A year and a half later, as the division of assets and debts was at issue, Husband sought an order that Wife indemnify him from a joint debt. Query:  could the family court order the debtor to indemnify the ex spouse with respect to a debt for which she had discharged her liability? Full disclosure:  I represented Wife in the bankruptcy case and argued this issue to the family court. I analyzed an indemnity obligation as running afoul of the discharge. Husband’s counsel argued that a Chapter 7 discharge could not have discharged a debt she owed to her ex with respect to marital debts. Afterward, both bankruptcy lawyers admitted that they had never considered the arguments made by the other. The court held The family law judge held for Wife:  her bankruptcy discharge barred the creation of an indemnification obligation with respect to a discharged debt. The court relied on a 9th Circuit BAP decision Heilman. What was startling to me was that this issue hadn’t been conclusively resolved by the courts.  After all, debtors have been marrying and divorcing for a long time. Practice pointers In candor, I wish I had solid practice pointers on this issue. There are old cases that approach the issue of obligations between spouses from the point of view:  when does the claim of one spouse against the other arise.  Maybe it doesn’t arise before marital discord, or the initiation of a divorce action.  Yet in Heilman, the divorce was filed months after the bankruptcy. The uncertainty here may argue that either the spouses file a bankruptcy together, or at least, that they both file.  That eliminates any disparity in the post divorce obligations to third parties of the spouses. If the divorce had been completed before Wife filed her Chapter 7, any order for indemnification would have been non dischargeable.  If such orders had been made in the divorce, we might have opted for Chapter 13, where non support obligations to a spouse are dischargeable. I asked the pupilage group whether an uneven division of the marital property in my case would have been a permissible approach to the disparities created by the discharge of one spouse.  Our collection of lawyers and judges hemmed and hawed. Welcome to the strange and wonderful world of family law and bankruptcy. The Bankruptcy Family Law Series:  ♦ Spouses as source of Conflicts   ♦ Starting with support  ♦ Shadow players with support claims   ♦ Non support debts & discharge   ♦When the stay rules change Image courtesy of Flickr and Randy Heinitz  

Immediately after filing a bankruptcy case you have the ability to apply for credit. Most lenders are going to want to have you wait approximately 6 months to two years before extending you any kind of unsecured credit. You can apply for auto financing immediately after a bankruptcy filing. This is known as open bankruptcy+ Read MoreThe post When To Apply For Credit After Filing Bankruptcy? appeared first on David M. Siegel.

The bankruptcy petition is the document that gets filed with the clerk of the United States bankruptcy court. The petition is basically everything about you financially. It encompasses all of your assets, your liabilities, your income, your expenses and your statement of financial affairs. The bankruptcy petition is what the chapter 7 trustee is going+ Read MoreThe post What Is Involved In Preparing The Bankruptcy Petition? appeared first on David M. Siegel.

When Chapter 13 Bankruptcy Is Used Chapter 13 is a reorganization under the United States Bankruptcy Code.  Chapter 13 allows you to repay debt over a three to five-year period.  It’s most commonly used to save a home that’s been in foreclosure or to save a vehicle that’s been repossessed or to stop collection activity+ Read MoreThe post When Chapter 13 Bankruptcy Works Really Well appeared first on David M. Siegel.