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Bankruptcy Attorney Washington DC, Maryland, Virginia

Can Filing for Bankruptcy Stop a Lawsuit?

Are your creditors suing you? If you are facing a civil lawsuit, you may want to consider filing for bankruptcy. In many instances, this will be your best option. A lawsuit can become stressful and costly. However, a bankruptcy will often ensure that a creditor never receives a judgment. This is because of one of the most powerful aspects of a bankruptcy, called the Automatic Stay. With very few exceptions, this injunction will stop the actions of creditors. So, a bankruptcy will stop a lawsuit.

If I File Bankruptcy, Will I Lose My Retirement Savings?

Are you saving for retirement or currently retired? Overwhelming debt can place your retirement savings at risk. Consequently, many older Americans are using bankruptcy as a solution. Yet, people often worry that filing bankruptcy will place their retirement savings at risk. Will a trustee seize your retirement savings to pay your creditors? Today’s article will help answer if a bankruptcy will cause you to lose your retirement savings.

How Does a Bankruptcy Affect my Credit?

One of the prime reasons that many people decide not to file for bankruptcy protection is a perceived harmful impact on their credit. Why perceived? It is true, a bankruptcy will stay on your credit report for 10 years. Nevertheless, not filing bankruptcy will allow your debts to grow, become charged off, and be sent to a collection agency. The fact is, despite the consequences of filing a bankruptcy, it will often improve a person’s credit situation, not harm it.

4 Common Myths About Bankruptcy

Many people share some common misunderstandings and misconceptions about bankruptcy. Moreover, these myths can impact their ability to make good decisions. A consultation with Harris S. Ammerman Esq., a bankruptcy attorney in Virginia, Maryland and Washington, D.C., can help you fully understand bankruptcy. In the meantime, today’s article addresses some of the most common myths about bankruptcy.