Tucson Bankruptcy Litigation FAQs
If you are a Tucson resident who is considering filing for bankruptcy, it is not a decision to be made lightly. An experienced bankruptcy litigation lawyer can inform you of all your options after carefully reviewing your current finances, debts, and income. Bankruptcy is a powerful tool that has helped many people get a fresh start, but you still need the guidance of a bankruptcy litigation attorney in order to maintain your newfound financial freedom. For your convenience, the Law Office of Barry W. Rorex has provided the answers to Frequently Asked Questions regarding bankruptcy litigation for individuals and businesses throughout Pima County. We hope you find these FAQs to be helpful. If you have any further questions, do not hesitate to contact our Tucson office at 520.495.7596 for a free initial consultation.
Can I Keep My Car If I File For Bankruptcy?
One of the main benefits to filing for Chapter 7 or Chapter 13 personal bankruptcy is that you may be able to keep your car even if you have fallen behind on payments. Chapter 13 bankruptcy usually allows you to keep your car and even your home as you develop a three-to-five year plan to pay a portion of your remaining debts after unsecured debt has been discharged.
Can I Buy A Car After Filing For Bankruptcy?
People who are careful about their finances after filing for bankruptcy can rebuild their credit and be eligible for a car loan or car ownership much sooner than they think. The Tucson bankruptcy lawyers at the Law Office of Barry W. Rorex can help you aggressively take steps that will improve your credit score and put you in a position to finance a new car as soon as possible.
Can I Refinance My Car Loan?
Hiring a bankruptcy litigation attorney puts you in a far better position to renegotiate a car loan with your creditor or bank. A consultation with the Law Office of Barry W. Rorex can determine how to best go about refinancing your vehicle.
How Long Will Bankruptcy Stay On My Credit Report?
A Chapter 7 bankruptcy stays on your credit report for ten years, and a Chapter 13 bankruptcy will be on your credit report for seven years. Even while a bankruptcy is on your credit report, however, you may be able to obtain credit cards and even small bank loans shortly after filing in order to rebuild your credit.
What Debts Are Dischargeable In Chapter 7 Bankruptcy?
Chapter 7, or “clean slate” bankruptcy, allows you to discharge qualifying unsecured debts. Common forms of unsecured debt include credit cards, some civil judgments, medical bills and collections. There are certain kinds of debts which cannot be discharged in Chapter 7, which include child support or alimony obligations, most student loans, or debts arising on the basis of fraud or injuries caused while you were driving under the influence of alcohol or other drugs.