I FILED A BANKRUPTCY SIX YEARS AGO AND RECEIVED A DISCHARGE IN CHAPTER 7. I JUST RECENTLY SURRENDERED MY TRUCK SINCE I COULDN’T AFFORD THE PAYMENT. NOW THEY ARE SUING ME FOR $10,000. IS THERE ANYTHING I CAN DO?
TAIEBLAW can definitely help you deal with this situation. The only prohibition is that you cannot file a Chapter 7 until 8 years from the date you filed your previous Chapter 7.
However, you are certainly eligible to file a Chapter 13 where you have to make a monthly payment to a bankruptcy trustee based on your disposable income. Unless you have substantial disposable income or are above the median income, most of Mr. Taieb’s clients are able to set up payment plans whereby they pay a very low trustee payment, which helps them eliminate a large percentage of their debt.
The Chapter 13 will impose an automatic stay, which will protect the client and immediately stop the lawsuit or potential garnishment or bank levy if a judgment has already been entered. Also, if Mr. Taieb’s client filed a Chapter 7 bankruptcy on May 1, 2012, if his circumstances deteriorated and it is difficult for him or her to make a monthly trustee payment, he can then re-file a Chapter 7 after May 2, 2020, and no longer have a trustee payment if he qualifies for a Chapter 7 at that time. Also, the client would want to make sure that there would be no potential loss of assets due to non-exempt equity.
If you previously filed bankruptcy and are currently dealing with a new financial crisis, please contact TAIEBLAW at 856-235-4994 to learn how we can help.
Steven N. Taieb, Esq. is here to help you and is a South Jersey Bankruptcy Attorney who has helped over 7000 people with their financial problems for the past 33 years and is board certified in consumer bankruptcy law by The American Board of Certification which is accredited by The American Bar Association.
We are more than happy to discuss all your options and to see if bankruptcy is the best option for you.