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12 things your bankruptcy lawyer didn't tell you

What you need to know about bankruptcy
  1. House debt is discharged in Chapter 7.  (Not the lien)
  2. Buying a house after bankruptcy may take a few years.
  3. Prospective employers can see you filed bankruptcy on your credit report.
  4. Creditors stop reporting to the credit agencies unless you reaffirm the debt.
  5. Failure to reaffirm a mortgage may disqualify a refinance or loan modification.
  6. Attorneys usually make more in Chapter 13 than Chapter 7.
  7. Many Chapter 13 clients never complete the plan.
  8. Inheritances within 180 days of filing Chapter 7 will go to your creditors.
  9. Future tax refunds are often at risk in Chapter 7.
  10. Co-debtors will be notified of your bankruptcy filing.
  11. If you have repaid family or friends in the last year they may be sued.
  12. Debt negotiation may be a better option
Monroe Office:
​110 E Jefferson St.
Monroe, NC 28112

(704) 493-6851​

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Contact us
  • Home
  • Firm Info
    • Contact Us >
      • Directions to Monroe office
    • Attorney Profiles >
      • Jason D. Witt
    • Fee Schedule
  • Family Law
    • Child Custody
    • Child Support
    • Divorce
    • Property Division
    • Alimony and Post-Separation Support
    • Separation Agreements
    • Domestic Violence Protective Order
  • Criminal Law
    • Traffic/DWI >
      • Traffic Tickets
      • Suspended or Revoked License
      • Driving While Impaired
    • Misdemeanors
    • Felonies
    • Expungements
  • Other Areas
    • Bankruptcy Law >
      • Personal Bankruptcy
      • Chapter 7 vs. 13
      • Bankruptcy Myths
      • NC Bankruptcy Exemptions
      • Bankruptcy Means Test
      • Bankruptcy Disclaimer
    • Debt Settlement
    • Foreclosure Defense
  • Blog