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Filing For Bankruptcy FAQ

Posted by Roderick Woods | Nov 01, 2018 | 0 Comments

Can I keep my property if I file for bankruptcy?

Filing for Chapter 13 bankruptcy enables you to keep all of your property. What happens is, a plan for the repayment of your debts is devised which fits within your budget. Over the course of 3 years, payments are made by you to the trustee assigned to your bankruptcy case. The trustee then disburses the funds to each creditor each month. The whole chapter 13 process is a lot like a debt consolidation plan with a modification of the loan terms.

Can debt collectors contact me if I file for bankruptcy?

If you file for bankruptcy, each creditor that you list in your petition will not be legally permitted to contact you during the pendency of the bankruptcy. Contacting you will be a violation of the automatic stay the court immediately issues when you file for bankruptcy and could result in fines and sanctions against the creditor who contacts you. There is an alternative for creditors, however, if they request relief from the stay. If the court grants the creditor relief from a bankruptcy stay, that means that the creditor can begin collection efforts again. This usually only happens when a mortgage lender requests relief from the stay during a mortgage foreclosure.

What will bankruptcy do to my credit score?

Filing for bankruptcy can be a real life saver for some people. But questions always arise as to how the bankruptcy will affect their credit score after all is said and done. The answer depends on how your credit score was before you filed for the bankruptcy. Obviously, if you have a low credit score to begin with, filing for bankruptcy will not affect your score very much at all. If however, you had a pretty high credit score previous to filing for bankruptcy, the score will drop much more significantly.

We offer low-cost, flat fee representation in Chapter 7 bankruptcy cases. For more information about filing for bankruptcy, please contact us at The Wood Law Firm, LLC.

About the Author

Roderick Woods

RODERICK D. WOODS, ESQ. A summa cum laude graduate of the State University of New York and a graduate of Albany Law School of Union University in Albany, New York, Attorney Roderick D. Woods is an experienced litigator with a proven record of success in civil litigation. In 2007, he founded The Woods Law Firm, LLC, in Hartford, Connecticut, with a dedicated focus on representing individuals in a wide array of consumer litigation matters, including actions brought under the Fair Debt Collection Practices Act, the Telephone Consumer Protection Act, the Fair Credit Reporting Act, and the Connecticut Unfair Trade Practices Act. Since 2015, Attorney Woods has been Of Counsel to Rights Protection Law Group, PLLC, of Boston, Massachusetts, and, in 2020, became Connecticut local counsel, managing all Connecticut litigation matters, for The Litigation Practice Group, P.C., a California-based firm devoted to consumer litigation. He authors two blogs, Connecticut Consumer Lawyer and The Daily Litigator.


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The Woods Law Firm, LLC represents clients throughout the state of Connecticut, including Hartford, Tolland, Putnam, New London, Middlesex, New Haven, Litchfield and Fairfield Counties.