What about my bank accounts?
If you owe money to the bank where you have your checking or saving accounts, such as credit cards, personal loans or ready credit accounts, you must close all your accounts at the bank. You need to also close the account if you have automatic payments deducted from your accounts. If you do not owe any money to the bank, you will not have to close your accounts. Take note that if you have voluntary payments taken automatically out of your checking account or payroll account, you must call the bank or payroll department to stop them. Filing bankruptcy will not automatically stop those payments.

What about personal loans at finance companies?
If you have taken out a loan at a finance company and listed your personal property (furniture, stereos, televisions, etc.) as collateral, the loan will be discharged and you will be able to keep your property. Be advised that this office will file a Motion with the Court to prevent the finance company from collecting the collateral. This Motion is called a Motion to Avoid Nonpossessory Lien. Upon the filing with the Court, you will receive a notice of the filing from the Court. It is nothing for you to worry about, nor is it anything you have to take any action on. The Court automatically notices you every time anything is filed in your case.

What about past due utilities? Can I include them in the bankruptcy?
If you have utility bills that are past due (electric, telephone, etc.) you can list them as unsecured creditors on your petition. The date the bankruptcy is filed, any debt that you have with the company from that date back are dischargeable. From the date of the filing forward, you are treated like a new customer. The utility company can require you to make a deposit, so it is not a good idea to file on utilities unless you are several hundred dollars in debt. Remember, after the bankruptcy is filed, the utility company has the right to charge a deposit. If you do not pay the deposit within 20 days of demand, or you do not keep your utility bill current after the filing, the utility company has the right to shut off you service, even if you are in the middle of a bankruptcy.

What about auto accidents?
You may list auto accident claims against you on the petition. You will be allowed to get your license back if it was taken for failure to pay damages in an accident. But filing a bankruptcy does not stop criminal prosecution.

Should I put property into someone else's name?
Any property transferred out of your name into someone else's a year prior to filing a bankruptcy, could become the property of the Court.

Do I need a credit report?
All of your creditors must be listed on your bankruptcy. If they are not listed, they will not be discharged. If you think there may be creditors on your credit report that you may not know about, it is a good idea to obtain one. You can obtain a credit report from the following sources:
Equifax - http://www.equifax.com    (800) 685-1111
Experian - http://www.experian.com    (900) 397-3742
Trans Union - http://www.transunion.com    (800) 916-8800


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