Can a Bankruptcy stop foreclosure proceedings, lawsuits, and wage garnishments? In many cases, the filing of a Bankruptcy can save a home
from foreclosure, or put an end to a pending lawsuit or
Can I keep my home, cars, retirement, and other property, if I file Bankruptcy?
The vast majority of people who file Bankruptcy are
allowed to keep all of their property including their home, motor vehicles, retirement, and other assets. However, there are of course certain limits defining how much property a person is allowed to keep, and your attorney will be able to tell you before you
file if all of your assets will be protected.
Is it more difficult to file Bankruptcy since the
enactment of the Bankruptcy Reform ACT of 2005?
The Bankruptcy Reform Act of 2005 made some
sweeping changes in Bankruptcy Law, both substantively and procedurally. For example, most individuals who file Bankruptcy are now required to meet certain credit counseling requirements. However, the passage of the 2005 Reform Act does not materially impair the ability of most individuals to file Bankruptcy and obtain a release or discharge of their debts.
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