Frequently Asked Questions
What disclosures must a collection agency provide to a debtor?
- The amount of the debt,
- The name of the original creditor,
- The period of time in which the debtor may dispute the validity of the debt (thirty days), and
- The obligation of the collection agency to send the debtor verification of the debt if its validity is disputed.
What actions must a collection agency avoid?
Are there any alternatives to filing bankruptcy?
Are student loans discharged in a bankruptcy proceeding?
What effect does a bankruptcy filing have on the collection of alimony and child support?
Does a bankruptcy discharge eliminate all debts?
- Debts or creditors not listed on the schedules filed at the outset of the case;
- Most student loans, unless repayment would cause the debtor and his or her dependents undue hardship;
- Recent federal, state, and local taxes;
- Child support and spousal maintenance (alimony);
- Government-imposed restitution, fines, or penalties;
- Court fees;
- Debts resulting from driving while intoxicated; and
- Debts not dischargeable in a previous bankruptcy because of the debtor’s fraud.
- Debts from fraud, including certain debts for luxury goods or services incurred within sixty days before filing and certain cash advances taken within sixty days after filing;
- Debts from willful and malicious acts;
- Debts from embezzlement, larceny, or breach of fiduciary duty; and
- Debts from a divorce settlement agreement or court decree, if the debtor has the ability to pay and the detriment to the recipient would be greater than the benefit to the debtor.
How much property does the debtor have to give up in a bankruptcy proceeding?
- Expensive musical instruments, unless the debtor is a professional musician;
- Collections of stamps, coins, and other valuable items;
- Family heirlooms;
- Cash, bank accounts, stocks, bonds, and other investments;
- A second car or truck; and
- A second or vacation home.
- Motor vehicles, up to a certain value;
- Reasonably necessary clothing;
- Reasonably necessary household goods and furnishings;
- Household appliances;
- Jewelry, up to a certain value;
- A portion of the equity in the debtor’s home;
- Tools of the debtor’s trade or profession, up to a certain value;
- A portion of unpaid but earned wages;
- Public benefits, including public assistance (welfare), Social Security, and unemployment compensation, accumulated in a bank account; and
- Damages awarded for personal injury.
Will a debtor lose his or her home by filing bankruptcy?
How long is bankruptcy and other credit information included on the debtor’s credit report?
What happens if the debtor’s salary increases after filing a Chapter 13 wage-earner plan?
The Bankruptcy Code uses such confusing terminology. What is meant by such terms as “preference” and “fraudulent conveyance”?
How can a debtor determine whether a debt is "secured"?
Learn More: Bankruptcy Law
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- Travis and his entire team have been amazing and very helpful. They made the process very comfortable for me.- Nathan Berliner. 5/24/2020
- When good people go through tough finical times and there is no other option than Bankruptcy, it’s imperative to have the right attorney represent you. Travis Gagnier and his dedicated team of experts at Best BK will guide you through the complex and often intimidating legal system to ensure you get the financial relief you need. Travis is a trusted and well-respected attorney who is lighting fast in getting results with creditors, the courts and the Trustee, which will bring you peace of mind and comfort for you and your family. For our situation, Chapter 13 was the best course of action to take. Travis was a calming presence during our financial melt-down, which was rather emotional for my wife and I. He helped us get the protection we needed with a clear path to pay our creditors, which eliminated the financial strain on our family. Do not be embarrassed or ashamed. You have legal rights to protect you and your family, so use them! Don’t go it alone, call Best BK for legal consultation to determine if Bankruptcy is right for you.- Jon Stomberg. 5/4/2020
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- Great place, great staff. They stopped a garnish right away for me, got my license back right away. They knew what they were doing and got all my creditors from the credit reports. Very helpful with questions. Attorney Travis was very understanding, good in court and the paralegals were super nice, too. I highly recommend and send my coworker there for help.- Sherry Brown. 9/30/2018
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