Bradford W. "Brad" Botes

For over 30 years, Bond & Botes has focused exclusively on bankruptcy and debt relief, helping thousands of individuals and families stop creditor harassment, protect their homes, and rebuild their financial futures. With local roots and a compassionate, no-pressure approach, we treat every client like a neighbor, not just a case file. 

1. What is bankruptcy?

Bankruptcy is a legal process that allows individuals or businesses to eliminate or restructure debt under the protection of the federal bankruptcy court. It provides relief from creditor actions like lawsuits, garnishments, repossessions, and foreclosure.

2. What types of bankruptcy are available?

• Chapter 7 – A liquidation bankruptcy where most unsecured debts are discharged.

• Chapter 13 – A repayment plan for individuals with regular income.

• Chapter 11 – Typically used by businesses to reorganize while continuing operations.

3. Will I lose everything if I file bankruptcy?

No. Bankruptcy law allows exemptions that protect certain property such as your home equity, personal belongings, retirement accounts, and vehicles (within limits). Many clients keep most or all of their assets.

4. Can bankruptcy stop foreclosure or repossession?

Yes. Filing for bankruptcy triggers an automatic stay, which immediately halts foreclosure, repossession, garnishments, and creditor lawsuits. Depending on the chapter filed, you may be able to keep your home or car while restructuring your debt.

5. Does bankruptcy wipe out all debts?

Most unsecured debts such as credit cards, medical bills, and personal loans can be discharged. However, certain debts—like student loans, recent taxes, child support, and alimony—are generally not discharged.

6. How does bankruptcy affect my credit?

Bankruptcy will appear on your credit report (7–10 years depending on the chapter). However, many clients find their credit score begins to recover quickly after filing, because debt balances are eliminated and they can rebuild responsibly.

7. Can I choose which debts to include in bankruptcy?

No. Bankruptcy requires that you list all your debts. However, you may still choose to reaffirm some debts (like a car loan) if you want to keep the asset.

8. Do both spouses have to file bankruptcy together?

Not necessarily. One spouse can file individually, but depending on whether debts are shared, it may be more beneficial to file jointly.

9. How long does the bankruptcy process take?

• Chapter 7: Typically 3–6 months.

• Chapter 13: 3–5 years (since it’s a repayment plan).

• Chapter 11: Varies depending on business complexity.

10. Is bankruptcy the right option for me?

It depends on your income, assets, and type of debt. Bankruptcy is often a powerful tool, but alternatives such as debt settlement, negotiation, or restructuring may also be available. Speaking with a bankruptcy attorney can help determine the best path.