Frequently Asked Questions
Disclaimer: This is general information only and should not be considered legal advice. No attorney/client relationship exists as a result of these or any other Grapevine website page.
How have the Bankruptcy laws changed?
The reforms enacted in October of 2005 were designed primarily to prevent abuses. For the vast majority of Chapter 7 filers (liquidation of debt) these changes will not affect their ability to gain a fresh start.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 is a liquidation of debt, excluding debts for taxes, student loans, intentional acts (liabilities due to fraud, embezzlement, due drug and alcohol induced acts, etc.), and support obligations, to name a few. Chapter 13 is a 3-5 year repayment plan which allocates debt repayment from income that exceeds reasonable living expenses.
Will I be able to keep my house or my car?
In most cases, yes. It depends on how much value it has over what you still owe on it. If the value is less then you can usually retain the property or car as long as payments are kept current. If there is significant value beyond what you owe on it (equity) then it needs to be evaluated.
Why should I choose Grapevine as my legal service?
Most firms will give you a thick stack of forms to fill out on your own, a general phone line to call in with, high fees, and will leave you with a feeling of unease when you meet with the Trustee. With Grapevine the attorney will go over each question with you, enter it in on your forms, and make sure you completely understand what is being asked and to answer any concerns you may have. Your access phone number is the direct line to the attorney and most messages are answered promptly. You'll enjoy low fees and feel completely prepared to answer the Trustee's questions. option you can have the peace of mind that you will have an experienced attorney with you every step of the process.