FAQ
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Frequently Asked Questions about Bankruptcy

Consult with Our Oakland Bankruptcy Lawyers

Many people who are facing bankruptcy often feel frustrated and overwhelmed by their situations. At The Bankruptcy Law Firm, we understand that you may be seeking answers for some of your burning bankruptcy questions – and we stand ready to ensure that your rights are protected and that you receive the answers you need.

When you work with our team, you can rely on our years of experience and quality legal counsel to help you navigate the process. Below, you can find answers to some of the most commonly asked questions about filing for bankruptcy. If you need additional information, do not hesitate to work with an Oakland bankruptcy lawyer at our firm as soon as possible.

Reach out to us at (510) 270-2782 to learn more.


Who can file for bankruptcy?

Under the United States Bankruptcy Code, almost anyone can file for bankruptcy. There are a few exceptions, and your specific case may limit you to a specific chapter you can file under. That is why it is important to speak with an attorney.

Does my spouse have to file with me?

No. If you and your spouse wish to file for bankruptcy separately, you may; however, there are some situations in which joint filing may yield better results than single-filing status. You and your attorney can discuss your options.

Will I lose my home or car?

Not necessarily, and in fact, bankruptcy may be able to save your home from foreclosure. Chapter 13 bankruptcy may provide a bit more protection from foreclosure than other options, but under some Chapter 7 circumstances, you can save your home or car as well.

Can bankruptcy stop creditor harassment?

Yes! If you are constantly being pestered by creditors and collectors looking to obtain money from you, filing for bankruptcy can stop them. When you file, an automatic stay will be placed on your accounts, which means that all collection attempts will be forced to cease.

What will happen to my credit?

Depending on the chapter that you file under, your credit score will reflect the bankruptcy for a few years. After you file though, you can begin to rebuild your credit almost immediately. An attorney from our team can help you understand your specific credit situation.

Should I work with a credit repair company?

It is recommended that you first speak with an attorney about your financial situation before working with a credit repair company. Credit repair companies are notorious for being fraudulent, and scams abound in this industry. Bankruptcy may be a better option for you.

How do I know which chapter to file under?

Consumers have a few different options when it comes to filing for bankruptcy. When you work with our firm, we will help you determine your eligibility to file for Chapter 7, Chapter 13, or Chapter 11 bankruptcy using a bankruptcy means test.

What debts will be discharged?

Debts can be discharged when you file for bankruptcy and depending on the chapter you filed under, your debts will either be automatically discharged or discharged later down the road. Non-secured debts such as credit card debt, medical debt, and certain types of loans may be discharged.

What cannot be discharged by bankruptcy?

A few types of debts cannot be discharged by filing for bankruptcy. These are called secured debts and include court-ordered restitution, child or spousal support, student loans, and federal loans.

How do I know if bankruptcy is right for me?

If you are burdened by debt that is quickly adding up, bankruptcy may be a good option for you. Most individuals who file are no longer able to make even minimal payments against their debt and are in desperate need of assistance. An attorney from our team can help determine if you are eligible.

Isn't bankruptcy bad?

No! Bankruptcy is a great financial tool to use in the right circumstances! There once was a time when bankruptcy had a negative stigma and debtors’ names were printed in local newspapers, but this is not the case anymore. Bankruptcy can actually greatly benefit an individual and provide much-needed relief from debts, collection attempts, and foreclosure.

Work with an Experienced Bankruptcy Lawyer in Oakland

You should never try to face the bankruptcy courts alone. The federal and state laws regarding bankruptcy can be confusing, and it is always important that you first speak with an attorney about your situation. At The Bankruptcy Law Firm, we can address your situation and work with you to develop a personalized strategy to help you meet your financial goals.

If you are ready to move forward with your case, we encourage you to contact our team and tell us your story.
We may be able to help! Call (510) 270-2782.

Client Experiences

  • “What a great group of people the Kostopoulos team is. They were the most prepared lawyers at our trustee meeting. They helped me through the most difficult time in my life And didn't let me feel like ...”

  • “My husband and I would like to thank you and your staff for helping us through our bankruptcy. Every single member of your staff that we had contact with should be applauded for their knowledge, ...”

    - John and Susan K.
  • “Great Process! Streamlined, no surprises. I liked the ability to give payments via their payment plan.”

  • “We are grateful and appreciative for the help with getting a second chance with our credit. We want to thank the whole office for all the help and for allowing us to make payments.”

  • “Every time I called the office to ask questions, everyone was always very friendly and courteous. Nobody made me feel uncomfortable.”

    - Christina V.
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Awards & Associations

  • American Board of Certification
  • Excellent Rating on Avvo
  • National Association of Consumer Bankruptcy Attorneys
  • American Bankruptcy Institute

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