Question 1

Where do I file for bankruptcy in Anchorage, Alaska?

Accepted Answer

For bankruptcy filing in Anchorage, you can file directly at the United States Bankruptcy Court located at 605 W. 4th Avenue, Anchorage, AK 99501. You also have the option to reach out to them at 907-271-2655 or visit their website (https://www.akb.uscourts.gov/).

Question 2

Where can I get bankruptcy forms in Anchorage, Alaska?

Accepted Answer

You can get a copy of your bankruptcy forms in Anchorage at the United States Bankruptcy Court website (https://www.akb.uscourts.gov/). You also contact them at 907-271-2655 or visit their physical address for filing is 605 W. 4th Avenue, Anchorage, AK 99501.

Question 3

What types of debts can be discharged if you file for bankruptcy in Anchorage?

Accepted Answer

By filing for bankruptcy in Anchorage, you can find relief from various types of debt, such as medical bills and credit card debt. Additionally, this legal procedure has the power to stop bank account levies, wage garnishments, car repossessions, foreclosures, and other collection practices. By declaring bankruptcy, you can be freed from these burdensome debts, which will open the door to financial stability and freedom.

Question 4

Why should you hire a bankruptcy attorney in Anchorage?

Accepted Answer

Hiring a bankruptcy attorney in Anchorage is crucial because they possess the expertise to navigate the complexities of state-specific bankruptcy laws, exemptions, and the treatment of assets. Based on your income and expenses, they can offer tailored advice to make sure you file under the correct chapter (Chapter 7 or Chapter 13). An approachable lawyer can also meet with you several times, accept paperwork in person, and avoid any delays in submitting your case.

Question 5

What are the things that you can do to stop creditor harassment in Anchorage?

Accepted Answer

The following actions might be taken in Anchorage to stop creditor abuse:

Consult an attorney or friends who have declared bankruptcy for advice.
Obtain the contact details of any collectors who call you while you are at work and let them know that such contact is not allowed.
Promptly pick up your certified mail so you can stay informed about any prospective legal actions. These measures can help you address creditor harassment and mitigate its impact on your daily life.

Question 6

Do law firms and lawyers in Anchorage ensure the confidentiality of your identity when you file for bankruptcy?

Accepted Answer

Yes, no one in Anchorage has access to your history or any other personally identifiable information if you file for bankruptcy. Hiring a bankruptcy lawyer provides an added layer of protection for your confidential and private financial information, as well as the bankruptcy documents, ensuring they remain shielded from public disclosure. In addition, these lawyers use cybersecurity platforms designed to safeguard your financial and personal information and preserve its privacy.

Question 7

Does Anchorage provide additional protections against discrimination based on bankruptcy in employment?

Accepted Answer

Yes, Anchorage provides additional protections against discrimination based on bankruptcy in employment. Employers in both the federal and state governments are forbidden by law from treating people differently purely because of their bankruptcy status. In addition to employment, this protection also applies to permits, licenses, and school loans. Additionally, it is against the law for private employers in Anchorage to fire or treat an employee differently due to their records that contain bankruptcy suits.

Question 8

What does a bankruptcy attorney do?

Accepted Answer

Bankruptcy attorneys help clients understand whether they qualify for bankruptcy and what their best options are. They also prepare and file petitions, answer questions during the proceedings, and educate clients about potential best steps for a positive bankruptcy outcome. Bankruptcy attorneys might also file motions or paperwork if creditors dispute the bankruptcy, or to stop creditors from taking collections actions forbidden by the bankruptcy.

Question 9

What happens when you file bankruptcy?

Accepted Answer

Bankruptcy is a formal process that individuals, married couples, or businesses can enact when they are no longer able to pay creditors. In a bankruptcy proceeding, filers are allowed to reduce debt to more manageable levels to best pay off money owed.

Once the bankruptcy process is initiated, debt collectors can no longer seek repayments outside of the arrangements detailed in the bankruptcy settlement. Some forms of bankruptcy result in the liquidation of assets to pay back debts, while others allow filers to retain most of their possessions and investments. Many types of unsecured debt can be managed with bankruptcy filings, but not all.

Question 10

Can you file bankruptcy on student loans?

Accepted Answer

Under most circumstances, student loans aren't dischargeable and aren't included in bankruptcy proceedings. In rare cases, it may be possible to eliminate student loans through bankruptcy, but only if the courts determine that continuing to pay the loans would impose an undue hardship. Meeting the criteria for undue hardship is challenging, and most bankruptcy filers don't qualify.

Question 11

What is bankruptcy fraud?

Accepted Answer

Bankruptcy fraud is a blanket term that refers to any kind of dishonest bankruptcy proceeding, which can include:

Hiding assets by transferring them to another person or entity
Intentionally omitting assets when reporting to the court
Destroying or withholding required documents
Knowingly making false statements to bankruptcy trustees or creditors

Question 12

How long is bankruptcy on public record?

Accepted Answer

How long bankruptcy stays on public record depends on the kind of bankruptcy filing in question. Chapter 7 bankruptcy remains on the record for 10 years as there isn't necessarily a repayment component. Chapter 13 bankruptcy remains on the record for seven years as some obligations are repaid following filing based on the terms of a discharge settlement.

Question 13

Does bankruptcy clear tax debt?

Accepted Answer

Bankruptcy can clear tax debt, depending on the circumstances. Taxes are dischargeable under Chapter 7 bankruptcy, not Chapter 13, and only if the tax debt is:

Federal income tax debt related to current properly filed tax returns
Honestly incurred with no fraud or evasion
At least three years old
Assessed at least 240 days before bankruptcy filings

Existing liens are not eliminated with bankruptcy.

Question 14

Can they take my car in Chapter 7 bankruptcy?

Accepted Answer

In many cases, it's possible to keep a vehicle following Chapter 7 bankruptcy. The Chapter 7 Motor Vehicle Exemption allows filers who own their vehicles outright or who are up to date with payments to keep their cars. However, those behind on making car payments are required to arrange a repayment plan. Otherwise, the vehicle may be repossessed as a part of the proceedings.

Question 15

How bad is it to file bankruptcy twice?

Accepted Answer

Although possible, due to the damaging nature of bankruptcy, filing bankruptcy more than once isn't recommended. Filing multiple times puts a serious burden on one's credit report, making it harder to get a loan, buy a house, buy a car, or even open credit cards.

Note that filing for bankruptcy isn't something that can be done at a filer's leisure. There are time limits following bankruptcy cases that dictate when it's permissible to file again. For example, after Chapter 7 bankruptcy, filers must wait at least eight years before filing Chapter 7 again or four years before filing Chapter 13.

Question 16

Can anyone file bankruptcy?

Accepted Answer

Anyone can file bankruptcy, but there are limitations regarding which form of bankruptcy is permissible. Qualifying for Chapter 7 requires a means test that evaluates income, debt levels, and income left over each month after paying basic obligations. Income over the median set by the court and monthly income that allows meaningful payments toward unsecured debt can disqualify filers from Chapter 7, which is generally the preferred form of bankruptcy due to the possibility of a full discharge. Anyone can file Chapter 13 bankruptcy, but the terms are less favorable. In most cases, some debts must be repaid following a successful filing. Chapter 13 is also more likely to result in asset forfeiture.

Question 17

How will bankruptcy affect my credit score?

Accepted Answer

Bankruptcies are noted on credit reports. How much a bankruptcy might drop a person's credit score depends on how high the score was to begin with, but generally speaking, the hit can be as much as 100 to 200 points. Often scores are already dropping because people filing for bankruptcy may have already missed payments on debts. Chapter 13 bankruptcies are listed on credit reports for seven years from the filing date, while Chapter 7 bankruptcies are listed for 10 years from the filing date. This is because Chapter 13 bankruptcies require at least partial payment of debts owed.

Question 18

What are the benefits of filing for bankruptcy?

Accepted Answer

Filing a bankruptcy petition causes an automatic stay. This legally stops creditors from taking further action to collect debt, including garnishing wages or foreclosing on property. Going through a bankruptcy successfully means that debts included in the bankruptcy are discharged and don't have to be paid back, except as provided in a Chapter 13 repayment plan. Bankruptcy can help someone recover from financial duress so they can make better decisions and improve financial situations in the future. Disadvantages can include temporary lower credit scores and limitations on spending and financing.

Question 19

What's the difference between debt settlement and bankruptcy?

Accepted Answer

Debt settlement occurs when people negotiate with individual creditors. The creditor agrees to take a payment that's lower than what someone owes and call the debt “paid in full.” Bankruptcy is a legal process that causes debts to be dismissed after someone proves they don't currently have the means to pay their debts as owed. Typically, someone can't enter into bankruptcy and also settle some debts, because the court would see that as favoring one creditor over another.

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Frequently Asked Questions

Where do I file for bankruptcy in Anchorage, Alaska?

Where can I get bankruptcy forms in Anchorage, Alaska?

What types of debts can be discharged if you file for bankruptcy in Anchorage?

Why should you hire a bankruptcy attorney in Anchorage?

What are the things that you can do to stop creditor harassment in Anchorage?

Do law firms and lawyers in Anchorage ensure the confidentiality of your identity when you file for bankruptcy?

Does Anchorage provide additional protections against discrimination based on bankruptcy in employment?