PHILIP W. STOCK
Your Bankruptcy Lawyer
CALL (570) 420-0500
Address:
Philip W. Stock
Attorney at Law
706 Monroe Street
Stroudsburg, PA 18360
Google map
(Serving Stroudsburg, Mount Pocono, Brodheadsville
and neighboring areas.)
FREQUENTLY ASKED QUESTIONS
Q. I filed Chapter 7 almost six years ago, can I file again?
A. No. You must wait 8 years after a previous Chapter 7 to file a new Chapter 7.
Q. How long does the bankruptcy stay on my credit report?
A. The filing of the bankruptcy remains on your credit report for 10 years.
Q. Can I keep my home?
A. Yes. In a Chapter 7 bankruptcy, you can keep your home as long as you are current with
your mortgage payments and do not have substantial excess equity in your home. Many individuals file a Chapter 13
bankruptcy because they are behind with their mortgage payments, but want to keep their home. In this type of bankruptcy, the mortgage arrearage is put into a Chapter 13 Plan so that they can catch up with the arrearage and save their home.
Q. Are all debts discharged in a bankruptcy?
A. No. Not all debts are dischargeable. For example, spousal and
child support, school loans, income taxes and vehicle violations are, normally, nondischargeable.
Q. How long does the bankruptcy process take?
A. Once the Petition is filed, the Trustee meeting is, normally, held within
six weeks. An Order of Discharge is issued, approximately, 60 days after attending the Trustee meeting.
Q. If I forget to add a creditor, do I still get a discharge of the debt?
A. If you discover the debt prior to receiving your
discharge, you are required to amend your Petition to add that creditor so that the creditor
can receive notice. If you discover a creditor after you receive a discharge and complete your
case, normally, that debt is still discharged since, your bankruptcy results in a discharge of
all debts that existed prior to the filing of the bankruptcy.
Q. If I live in New York or New Jersey, can I file a bankruptcy in Pennsylvania?
A. You can file a bankruptcy in either the state that you reside or a state in
which you own a principal asset.
Q. Does overtime count when annual income is calculated?
A. Yes.
Q. If my spouse is not filing the bankruptcy with me,
does my spouse's income count?
A. Yes. When considering whether or not an individual
qualifies for a bankruptcy, the total household income must be calculated. Total household
income includes the spouse's income, as well as others who reside in the household.
Q. Must I include all of my creditors in the bankruptcy?
A. Yes. All creditors must be included.
Address:
Philip W. Stock
Attorney at Law
706 Monroe Street
Stroudsburg, PA 18360
Google map
(Serving Stroudsburg, Mount Pocono, Brodheadsville
and neighboring areas.)