At Skrupa Law Office, LLC, we get a lot of questions concerning bankruptcy and the processes we use for filing. Today, our expert bankruptcy attorneys in Omaha and Lincoln are going to sit down and answer your questions for you. Read below to find answers to some of the questions we get asked the most frequently by our clients.
• What different types of bankruptcy are there?
Chapter 7 bankruptcy requires property to be surrendered or the liquidation of anything that is not exempt under the state’s laws. Chapter 11 bankruptcy is for businesses with a large amount of debt. Chapter 12 bankruptcy is for farms owned by families. Chapter 13 bankruptcy requires a debt repayment plan over 3-5 years.
• How do I obtain a copy of my bankruptcy filing?
There is an electronic public access service called the Public Access to Court Electronic Records (PACER ) you can use to receive copies of your bankruptcy documents.
• What does bankruptcy not do?
Bankruptcy cannot fix all your financial problems. Contact Skrupa Law today to learn the stipulations.
• How often can I file bankruptcy?
You cannot receive two discharges from a Chapter 7 within 8 years or two discharges from a Chapter 13 within 6 years. You also cannot receive a discharge from a Chapter 13 if you have a discharged Chapter 7 in the last four years and you cannot receive a discharge from a Chapter 7 if you have a discharged Chapter 13 in the last two years.
• In Nebraska what property will I be allowed to keep?
You can keep all property that is exempt from creditors. Talk to our bankruptcy professionals at Skrupa Law today for more details.
• What can bankruptcy do for me?
Bankruptcy can help discharge all or most of your debts, stop a foreclosure, prevent a repossession of property, cease wage garnishment, or fight against creditors’ claims. It just depends on your specific situation.
• How much does it cost to file for bankruptcy?
It is $306 to file for Chapter 7 bankruptcy and $281 to file for Chapter 13 bankruptcy. You may pay this fee in installments to the court if you cannot pay it all at once. If you hire a lawyer, you will have to pay for their services as well. However, Skrupa Law will work with you to create a bankruptcy solution that’s affordable for you.
• What will happen to my house and car if I file for bankruptcy in the state of Nebraska?
You will be able to keep your car and house if your equity is exempt. If it is not, you can keep it under the Chapter 13 repayment plan option.
• Will bankruptcy erase all my debts?
Yes, except back child support, debts that you don’t list on bankruptcy filings, any debts gained from harming another, most student loans, and mortgages and liens. You could also be penalized for reporting false information concerning your debts.
• Can I own anything after bankruptcy?
Yes, you can keep all your exempt property and anything you buy after you have filed. However, if you receive any inheritance, property, life insurance benefits, or a settlement, those may have to be used to pay your creditors.
Contact Skrupa Law at (402) 999-0247 in Omaha or (402) 464-3311 in Lincoln Today!
Our expert bankruptcy attorneys at Skrupa Law hope you have found the answers you were looking for in this article. If you have a question we didn’t cover here or have any additional questions concerning bankruptcy and what we can do for you, contact our Omaha office at (402) 999-0247 or in Lincoln at (402) 464-3311. We would be glad to help you in any way possible. Call us today and get started on your journey to financial freedom.