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Your Bills After Bankruptcy

Thursday, July 20th - Your Bills After Bankruptcy

Bankruptcy is a legal tool designed to provide a fresh start to those burdened by unmanageable debt. However, it's crucial to understand that not all debts are discharged in bankruptcy. Certain obligations, known as non-dischargeable debts, must be paid in full regardless of your bankruptcy status.

After filing for bankruptcy, it's important to prioritize your financial responsibilities. Here are some of the bills you should continue paying, as advised by Omar Zambrano:

1. Mortgage: If you wish to retain your home, you must continue making your mortgage payments. Failure to do so could result in foreclosure.

2. Car Loan: Similarly, if you want to keep your vehicle, you need to maintain your car loan payments.

3. Utilities: Essential utilities such as electricity, water, and gas should be paid promptly to avoid disconnection.

4. Child Support and Alimony: These are considered priority debts and are not discharged in bankruptcy. It's crucial to keep up with these payments.

5. Taxes: Certain tax obligations are non-dischargeable and must be paid.

6. Student Loans: In most cases, student loans are not discharged in bankruptcy and must be paid.

After filing for bankruptcy, careful financial management is key. Attorney Omar Zambrano advises his clients to create a realistic budget and stick to it. Prioritize your bills and ensure that you're paying all necessary expenses. It's also advisable to start building an emergency fund to cover unexpected costs.

If you're facing financial hardship, behind on payments, or out of work, don't hesitate to reach out. We offer free consultations to help you understand your options and make informed decisions about your financial future. Call us today at 626-338-5505.

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