Law Office of John Kyle & Gregory Smith
Why hire a bankruptcy attorney
Filing the wrong chapter of bankruptcy can cost you assets you could have kept, or leave you with debts you could have discharged. An attorney ensures you choose the right path.
The moment you file bankruptcy, an automatic stay stops all collection actions — calls, lawsuits, garnishments, and foreclosure proceedings. An attorney gets this protection in place quickly.
Bankruptcy exemptions are complex and vary by state. An attorney knows exactly which assets you can protect and structures your filing to maximize what you keep.
Mistakes on bankruptcy paperwork can result in your case being dismissed, debts not being discharged, or worse — allegations of bankruptcy fraud. The forms are extensive and unforgiving.
Frequently asked about bankruptcy
What's the difference between Chapter 7 and Chapter 13?
Chapter 7 is "liquidation" — most unsecured debt is discharged, but non-exempt assets may be sold. Chapter 13 is a 3–5 year repayment plan that lets you keep assets while catching up on secured debt like a mortgage. Eligibility depends on income and asset levels.
Will I lose my house or car in bankruptcy?
Not necessarily. Each state has exemptions protecting equity in a primary residence and vehicle up to certain dollar amounts. Chapter 13 specifically lets you keep secured property as long as you cure arrears through the plan.
How long does bankruptcy stay on my credit?
Chapter 7 stays on a credit report for 10 years; Chapter 13 stays for 7. Many people see credit scores improve within 1–2 years post-discharge if they manage new credit responsibly. Mortgage lenders typically require 2–4 years post-discharge.
What does it cost to file bankruptcy?
Court filing fees are around $338 (Chapter 7) and $313 (Chapter 13). Attorney fees vary by district and complexity — Chapter 7 attorney fees are usually $1,000–$2,500; Chapter 13 fees are often paid through the plan. Many attorneys offer free initial consultations.