Consumer Bankruptcy
Commercial Bankruptcy
ABC: Florida Chapter 727
International Bankruptcy
1. What is Bankruptcy?
Bankruptcy in the United States is permitted by the United States Constitution (Article 1, Section 8, Clause 4) which authorized Congress to enact “uniform laws on the subject of bankruptcies throughout the United States.” Therefore, Bankruptcy is the lawful process that gives honest legal debtors relief from debts to begin a fresh new financial start.
On April 20, 2005, then President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). BAPCPA made substantial changes to the Bankruptcy Code designed to prevent the abuse of the Bankruptcy laws. BAPCPA is currently the law of the land.
2. What Chapter is right for me?
Your decision whether to file bankruptcy and under which Chapter to file depends on your particular circumstances. Choosing the correct Chapter is an extremely important decision and has tremendous financial impact. Consequently, this decision may require expert advice from a bankruptcy attorney.
3. Will my immigration status be affected by filing any Chapter of Bankruptcy?
No. Many people worry unnecessarily that they will somehow jeopardize their immigration status if they file for bankruptcy. This is incorrect. Immigration status is not affected in any way by filing for bankruptcy.
4. Do I need an attorney to file any Chapter of Bankruptcy?
The new bankruptcy law (BAPCPA) is more rigid in its requirements and the process is not as simple as just filling in the blanks. In the past, if a debtor failed to follow through on a documentation requirement or filed incorrect paperwork, there was usually an opportunity to correct the problem. This is not the case anymore. Under the current Bankruptcy law, there are various time lines or deadlines for certain actions, and the failure to perform these tasks timely will result in a dismissal of your case. An experienced attorney will make sure you meet these deadlines.
5. How do I get a bankruptcy filing removed from my credit report?
The Bankruptcy Court has no jurisdiction over credit reporting agencies. The Fair Credit Reporting Act, 6 U.S.C. § 605, is the law that controls credit-reporting agencies. The law states that credit reporting agencies may not report a bankruptcy case on a person’s credit report after ten years from the date the bankruptcy case is filed. The Victoria Law Group can recommend a credit restoration company, but we do not engage in credit restoration ourselves.
6. What can I do if a creditor keeps trying to collect money after I have filed bankruptcy?
You should immediately notify the creditor in writing that you have filed bankruptcy, and provide them with the case name, case number, and filing date, or a copy of the petition that shows it was filed. If a creditor continues to attempt to collect, the Debtor may be entitled to take legal action against the creditor to obtain a specific order from the court prohibiting the creditor from taking further collection action. However, a formal motion must be filed, in accordance with the Bankruptcy Code and applicable Rules. If the creditor is willfully violating the automatic stay, the Court can hold the creditor in contempt of court and fine the creditor. Any such legal action brought against the creditor will be complex and will normally dictate representation by a qualified bankruptcy attorney.