Why File Bankruptcy?
There is a common misconception that a person must be destitute to qualify for bankruptcy relief these days. But, it is often people with assets and good income who can benefit most from a bankruptcy filing.
Filing bankruptcy allows people with overwhelming debt to protect their assets and income and avoid a garnishment, levy, or judgment lien.
Bankruptcy can also help people reduce their monthly debt-related expenses. They can then start saving for retirement, a home, or their child’s education.
Chapter 7 Bankruptcy
- Chapter 7 can stop debt lawsuits, collections, garnishments, evictions and repossessions.
- Chapter 7 can help you get back previously garnished or levied funds if you file bankruptcy within 90 days of the garnishment or levy and if the garnishment / levy totaled at least $600.00.
- Chapter 7 can discharge some tax obligations.
- If you choose to do so, you can keep your house and vehicle when you file, assuming you can exempt any equity.
- Chapter 7 is a quick process, with the average case lasting only 3-4 months. If you choose to do so, you can typically keep your house and your car when you file Chapter 7.
- How much do you charge for a Chapter 7 bankruptcy?
Chapter 13 Bankruptcy
- In Chapter 13 bankruptcy, you work out a payment plan with your creditors.
- The plan is based on your ability to pay (among other factors).
- It allows you to avoid foreclosure or car repossession while catching up on payments.
- You can make manageable payments on tax debts and student loans.
- At the end of your payment period, many “leftover” debts are eliminated.
- How much do you charge for a Chapter 13 bankruptcy?
In addition to bankruptcy pre-planning, we provide the following services in average cases. More complicated cases can include additional services.
- Analyzing your financial condition prior to filing,
- Advising you about the different kinds of bankruptcy and the requirements for filing,
- Completing your bankruptcy intake meeting or meetings,
- Helping you resolve any situations that need to be addressed before you can file bankruptcy,
- Preparing and maintaining your bankruptcy file,
- Preparing your bankruptcy documents,
- Reviewing the bankruptcy filing page-by-page with you,
- Filing the bankruptcy documents with the Bankruptcy Court,
- Preparing you for the §341 meeting (the Meeting of Creditors),
- Representing you at the §341 meeting (the Meeting of Creditors),
- Filing all Certifications with the court,
- Forwarding all required supporting documents to the case Trustee,
- Filing all bankruptcy information with the appropriate state courts (if applicable),
- Preparing and filing reaffirmation documents (if applicable),
- Representing you at reaffirmation hearings (if applicable),
- Representing you at the plan confirmation hearing (Chapter 13 only),
- Representing Client at hearings and / or proceedings to determine status of liens,
- Reviewing Creditor proofs of claim,
- Reviewing Trustee’s intention to pay claims,
- Objecting to invalid proofs of claim,
- Ensuring you receive your final discharge papers, and
- Ensuring the bankruptcy court properly (and promptly) closes your case after you receive your discharge papers.