— Sacramento Bankruptcy Attorney —

Sacramento Bankruptcy21-11-2014
MY CREDIT WILL BE RUINED IF I FILE FOR BANKRUPTCY AND MY CREDIT SCORE WILL PLUMMET This is FALSE. If you are late on your bills or have your credit cards maxed out, your credit score probably has already been dragged down significantly. Reducing your debt to credit ratio may also help to improve your score. In fact, after a bankruptcy discharge you are a much better credit risk than just about anyone else, creditors will consider the following:

- You have a clean financial slate
- You most likely have little or no remaining unsecured debt
- You have just completed two courses, one on credit counseling and the second on financial management
- You have just put together a household budget and have used the process to strip the unaffordable debt from your budget
- You understand clearly the implications of poor credit management
- You can't file another Chapter 7 for 8 years
Sacramento Bankruptcy Attorneys19-11-2014
Bankruptcy Myths

This is FALSE. If you have a mortgage or car payment in place and can afford to pay that mortgage or payment, there is no reason the bank will try to take your home or car. If you have equity in your home in excess of the mortgage, it likely is protected by State or Federal homestead exemptions.

Chapter 7 Bankruptcy in Sacramento, CA19-01-2015
Getting to discharge
Creditors and the trustee have a 60 day period from the 341 meeting in which they may challenge the debtor's right to a discharge (Bankruptcy Code 727) or the dischargeability of a particular debt (Bankruptcy Code 523 (a) (2), (4), (6),and (15)) by filing an adversary proceeding.

Unless an action to deny the debtor a discharge is filed, the order providing for the discharge of debts is issued by the court shortly after the 60 day period expires. The filing of a contest to the discharge of one debt does not prevent or delay the entry of a discharge of the balance of the debtor's debts.

Debtors in cases filed after 10/17/05 must complete a course of financial education from an approved provider in order to get their discharge. The class is generally several hours and is available online from several providers.

Failure to get the class and file the certificate of completion of that class can result in the case being closed without entry of a discharge. The court may charge a new filing fee to reopen the case, file the certificate and enter the discharge.

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