General Bankruptcy Questions
- How will bankruptcy affect my credit?
- What property can I keep?
- Will I be able to keep my tax refund?
- How does this affect my student loans?
- Will bankruptcy have an effect on my employment?
How will bankruptcy affect my credit?
Under the Fair Credit Reporting Act, the filing of a Chapter 7 petition remains on your credit report for a period of ten years. This alone will not prevent you from obtaining credit, but it will play a part in the determination of your credit worthiness. You will want to rehabilitate your credit record shortly after you have been discharged from Chapter 7. Our firm has established a program that you may take advantage of.
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What property can I keep?
As a general rule, you are entitled to keep your home, contents of your home, vehicles and retirement accounts. The issue of what property you are able to keep can be complicated and you should discuss your specific situation with an attorney.
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Will I be able to keep my tax refund?
This question is case specific and should be discussed with an attorney.
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How does this affect my student loans?
It is illegal to deny a governmental grant, loan, loan guarantee or loan insurance to any person seeking a student loan because the person has filed a bankruptcy.
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Will bankruptcy have an effect on my employment?
Public employers cannot refuse, terminate employment, refuse to promote, or hire an applicant because of the filing of a bankruptcy. Private employers cannot terminate an employee for filing a bankruptcy; however, they may refuse to employ you for such reasons.
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For a confidential consultation or information on how Stasio & Stasio can put over 50 years of combined legal experience to work for you, call us at (817) 332-5113 or e-mail us by filling out our intake form on our Contact Us page.
We Are Dedicated to Providing You with Quality Legal Services
Based in Fort Worth, Texas, the attorneys at Stasio & Stasio represent clients throughout the Fort Worth-Dallas area, including the cities of Aledo, Alvarado, Arlington, Bedford, Burleson, Cleburne, Colleyville, Euless, Granbury, Grand Prairie, Hurst, Irving, Keller, Mansfield, Mineral Well, North Richland Hills, Southlake, Weatherford, and White Settlement. Our lawyers also represent residents of the following counties: Dallas County, Palo Pinto County, Parker County, Tarrant County, Hood County, Johnson County, and Wise County.
*We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.