Will creditors stop harassing me and my family?
Yes. Once your bankruptcy case is filed, an ‘automatic stay’ goes into place, and no creditors can call you, write to you, contact you in any way, sue you or pursue satisfaction of any debts you owe.
Will filing bankruptcy affect my credit?
Yes. A bankruptcy petition will negatively affect your credit score. And there is no doubt that, after your bankruptcy case, credit will cost you more. The attorneys at Davis, Upton believe, however, that – while important - the effect upon credit rating should not be the determining factor for filing, and can discuss this with you in detail.
Does my bankruptcy have to stay on my credit report for a certain period of time?
No. There is no statutory requirement that a bankruptcy stay on your credit report for 7 years or any other specific period.
Will my bankruptcy case affect my spouse?
No. As an individual filer, your bankruptcy case will affect your spouse’s finances only in very limited circumstances.
Will my bankruptcy filing affect my job?
Any effect will depend upon the terms of your employment.
How will filing bankruptcy affect my retirement?
Most qualified retirement plans should not be affected at all by your bankruptcy case.
