Best Bankruptcy Lawyers in Portsmouth

About Bankruptcy Law in Portsmouth, United States

Bankruptcy law in Portsmouth, United States provides individuals and businesses with a legal process to eliminate or repay their debts under the protection of the bankruptcy court. This allows debtors to seek relief from their financial obligations and make a fresh start.

Why You May Need a Lawyer

While it is possible to file for bankruptcy without legal representation, hiring a bankruptcy lawyer in Portsmouth can be beneficial in ensuring your rights are protected and navigating the complex legal process. A lawyer can provide valuable advice on the best course of action for your specific situation and represent you in court if needed.

Local Laws Overview

In Portsmouth, United States, bankruptcy laws are governed by federal law, specifically the United States Bankruptcy Code. However, there are also local rules and procedures that may apply in Portsmouth bankruptcy cases. It is important to consult with a knowledgeable lawyer who is familiar with the local laws and practices.

Frequently Asked Questions

1. What are the different types of bankruptcy?

There are several types of bankruptcy, including Chapter 7, Chapter 13, and Chapter 11. Each chapter has its own eligibility requirements and implications for debtors.

2. Will filing for bankruptcy stop creditor harassment?

Yes, filing for bankruptcy will trigger an automatic stay, which prohibits creditors from pursuing collection actions, such as calling you or filing lawsuits, while the bankruptcy case is pending.

3. How long does the bankruptcy process take?

The duration of the bankruptcy process can vary depending on the type of bankruptcy filed and the complexity of the case. Typically, Chapter 7 bankruptcy cases are completed within a few months, while Chapter 13 cases can take three to five years.

4. Will I lose all my property if I file for bankruptcy?

Not necessarily. In Chapter 7 bankruptcy, non-exempt property may be sold to repay creditors, while in Chapter 13 bankruptcy, you can keep your property and repay your debts through a repayment plan.

5. Can all debts be discharged in bankruptcy?

Not all debts are dischargeable in bankruptcy. Certain debts, such as child support, alimony, student loans, and certain taxes, cannot be eliminated through bankruptcy.

6. How will bankruptcy affect my credit score?

Bankruptcy will have a negative impact on your credit score, but you can rebuild your credit over time by managing your finances responsibly and making timely payments.

7. Do I have to go to court if I file for bankruptcy?

While you may have to attend a meeting of creditors, known as a 341 meeting, you may not have to appear in court for a bankruptcy hearing, depending on the circumstances of your case.

8. Can I file for bankruptcy more than once?

Yes, it is possible to file for bankruptcy multiple times, but there are limitations on how often you can receive a bankruptcy discharge. Consult with a bankruptcy lawyer to discuss your options.

9. Will my employer find out if I file for bankruptcy?

Bankruptcy filings are public records, but in most cases, your employer will not be notified unless you owe money to your employer or your wages are being garnished.

10. How much does it cost to hire a bankruptcy lawyer in Portsmouth?

The cost of hiring a bankruptcy lawyer in Portsmouth will vary depending on the complexity of your case and the lawyer's fee structure. It is important to discuss fees and payment options with your lawyer before proceeding with your case.

Additional Resources

For more information on bankruptcy law in Portsmouth, United States, you can visit the United States Courts website or contact the Portsmouth Bankruptcy Court for local resources and information.

Next Steps

If you are considering filing for bankruptcy in Portsmouth, United States, it is recommended that you consult with a qualified bankruptcy lawyer who can provide personalized advice and guidance based on your specific circumstances. A lawyer can help you understand your options, navigate the legal process, and work towards a fresh financial start.