Memphis, TN Bankruptcy Lawyer
A person who is trying to get their finances in order may file for bankruptcy as a resource to get back on track. However, even after declaring bankruptcy, creditors may still be hoarding you with calls for collection and may even try to repossess your property without permission from the bankruptcy court first. Those who are struggling to fend off their creditors despite taking the right actions, may want to meet with an attorney to fight for their rights.
It can be challenging for any person to finally admit that filing for bankruptcy may be the best choice for them, depending on their financial situation. Many people during this time seek legal advice, to confirm they are making the right decision.
Here are a list of common questions people may have regarding bankruptcy:
What if a creditor takes away my car on loan after I filed for bankruptcy?
If a creditor repossess your property after filing for bankruptcy, they may have to return the belonging back to you. The creditor may have violated automatic stay, which halts a creditor from being able to take action against the debtor who declared bankruptcy. A creditor who violates this rule may face repercussions from the court, and the creditor may be responsible for any damages caused.
However, if you did not list this creditor on your bankruptcy schedule, then it is possible the agency does not even know that you filed for bankruptcy. If a situation like this has happened to you recently, it may be best to get advice from an attorney to help you work this out.
What can an attorney do to help me?
A Memphis, TN bankruptcy lawyer at Darrell Castle & Associates, PLLC is a professional who understands the legal system more in-depth than the average person. An attorney can tell you whether a creditor may have acted unlawfully, and whether or not to take action. If you obtain legal representation, then you may want to provide the creditor with your attorney’s name and phone number. Your attorney can help safeguard your belongings from wrongful relinquishment.
What if I did forget to list a creditor on the bankruptcy schedule?
Let your attorney know right away if you forget to include a creditor when applying for bankruptcy. Provide as much details as you can regarding the type/amount of debt, creditor contact information, and value of collateral. Not listing this creditor on your bankruptcy schedule, may mean that these debts are not eradicated.
But I thought that bankruptcy meant all my debts were discharged?
This is a common misconception of what bankruptcy entails. Many people think that filling for bankruptcy in general means all of their debts will just go away. Depending on which chapter of bankruptcy you filed for, not all of your debts may be erased. You may have certain debts that are not dischargeable at all, including:
- Debts related to income and property taxes
- Domestic obligations including alimony and child support payments
- Restitution as part of a criminal sentence
- Loans accumulated as a student
- Debts incurred due to fraud