Phoenix Legal Resource Blog
For many individuals dealing with crushing debt, filing bankruptcy may be the best solution. Some are concerned about the stigma that may be associated with bankruptcy and worry that it could affect their employment, credit, and other aspects of their lives. If you are considering bankruptcy as a debt solution, you should know that the law provides protection against discrimination for individuals who declare bankruptcy.
Zombie debt is debt that will not die, or keeps coming back from the dead. This term is used in the credit industry to describe debt that resurfaces in collections after the statute of limitations (legal time limit to collect the debt) has expired. With collection agencies still attempting to collect the debt, it can reappear on your credit report and negatively impact your purchasing power.
If you rent your residence, and your landlord has threatened to evict you for failure to pay rent, filing for bankruptcy may help you avoid the eviction. Understanding the role of bankruptcy in avoiding eviction will help you figure out how to navigate difficult financial situations. Read on to find out how bankruptcy can prevent eviction and how you can implement it.
With the global economy under threat, courtesy of wars and pandemics, many people continue to succumb to financial hurdles, causing long-term hardships. Therefore, many are left with no choice but to file for bankruptcy. Like any other lawsuit, you will incur expenses when filing for bankruptcy. This cost will depend on the chapter and the attorney services you seek. We at Hilltop Law Firm will help you understand the range of bankruptcy fees depending on your state after a detailed consultation.
The number of individuals filing for bankruptcy in the US continues to increase, especially in this pandemic era, as many lose their livelihoods. We at Hilltop Law Firm will help you file for Bankruptcy and relieve the stress of creditors constantly asking for payment.
Most unsecured debts, such as credit cards, medical debts, repossessions, etc. can be eliminated in a chapter 7 bankruptcy. However, some debts will survive a chapter 7 bankruptcy.
What is the Chapter 7 Meeting of Creditors?
If you have been looking into filing a chapter 7 bankruptcy, you may have come across the 341 Hearing, or Meeting of Creditors. When you hire us to represent you in your bankruptcy, we handle every aspect of your case, including preparation for and attendance at the Meeting of Creditors.
First, you need to determine if chapter 7 bankruptcy is right for you. This type of bankruptcy eliminates most unsecured debts such as credit cards, personal loans, medical debts. Filing invokes a court order called the automatic stay, which stops all creditor activity against you, including wage garnishments. Click the following link to schedule your free 30-minute consultation with one of our attorneys: https://calendly.com/hilltoplawfirm/initial-consultation-web.
The short answer is yes.
The Automatic Stay
Filing bankruptcy invokes a court order called the automatic stay. This order prevents creditors from continuing or initiating any debt collection activities against you. This includes telephone calls, emails, letters, lawsuits, or any other type of communication. The order is sent to all of your creditors listed in your bankruptcy petition. So, in a perfect world, all the harassing calls and letters should end immediately after filing your bankruptcy.
Life happens. Oftentimes, financial hardship can hit a person more than once during a lifetime. If you have filed bankruptcy before, and debt is piling up again, bankruptcy is probably still available to you as an exit strategy. So, the question is, how many times can you file bankruptcy? As with many things in the law, the answer is, “It depends.”