Is My Retirement Money Protected?

by Paul R. Tom Basic Bankruptcy Information, Myths and FAQs

Most retirement plans are protected in bankruptcy. The Supreme Court has ruled that retirement plans that qualify under a federal law called ERISA are not property of the estate for bankruptcy purposes. This means that the bankruptcy trustee has to leave these assets alone. Most retirement plans qualify under ERISA, and even if they don’t, they may be protected under … Read More

Can I Protect My Cosigners?

by Paul R. Tom Basic Bankruptcy Information, Myths and FAQs

A Chapter 7 bankruptcy releases you from your debts, but does not release your cosigners. Your creditors will demand payment from them if you don’t pay. Lenders want cosigners so that they will have someone else to pursue if you fail to make payments or discharge the debt in bankruptcy. One way to protect your cosigners is to continue to … Read More

Can Bankruptcy Help Me Get My Driver’s License Back?

by Paul R. Tom Basic Bankruptcy Information

A driver’s license may be suspended if accidents or fines are not paid for. It can also be suspended because of damages from unintentional accidents and accidents caused by drunk drivers. Accidents caused by drunk drivers are usually not dischargeable in Chapter 7 bankruptcy, but other damages usually are. If your drivers license was suspended for failure to pay damages resulting … Read More

What Debts Can’t Be Eliminated In Bankruptcy?

by Paul R. Tom Basic Bankruptcy Information, News, Updates, Law Changes

Although the type of debts which can be eliminated in Chapter 7 and Chapter 13 are quite different, certain debts cannot be discharged in either proceeding – for example, debts such as child support, support alimony, property settlements, criminal fines/restitution, and damages arising from drunk driving. However, you may be able to repay obligations of these types in a Chapter … Read More

At Your First Appointment

by Paul R. Tom Basic Bankruptcy Information, Myths and FAQs

Your initial consultation is free. We review your financial situation for you and explain exactly which debts are dischargeable and which are not. If you then choose not to file, we won’t charge you for the initial consultation (it’s free). If you choose to file, we’ll explain all of the costs involved and make sure you understand the process. After … Read More