Bankruptcy is a court supervised proceeding which is intended to give debtors a break from creditors’ collection activities while the court tries to determine if there is any way possible to try and get some money to creditors in exchange for debts being discharged (“going away”). You see, the goal under any chapter of bankruptcy […]
Archives for July 2013
Are there different types of bankruptcy?
There are several chapters of bankruptcy including Chapter 7, Chapter 9, Chapter 11, Chapter 12, and Chapter 13. The majority of consumer cases are either Chapter 7 or Chapter 13. A few of our business clients must file Chapter 11 (which is a business reorganization) or Chapter 12 (which is exclusively for farmers). Chapter 9 […]
What is the process to file bankruptcy?
All you need to do is contact our office and set a free consultation with one of our experienced bankruptcy attorneys. Each of our lawyers has focused almost exclusively on the bankruptcy law for at least 15 years, and we feel confident that we will be able to answer your questions and reduce your stress. […]
How long does the bankruptcy process take?
In a Chapter 7 case, once the case is filed we will attend a meeting with the court approximately 30-45 days after the case is filed and the debts will be discharged approximately 60 days later. Therefore, we can expect a total period of approximately four (4) months from filing date to discharge date. In […]
Is bankruptcy right for me?
While we will be able to assist you with the entire bankruptcy process and will answer all of your questions to make sure you understand the pro’s and con’s of filing, whether to file remains a personal choice. In our opinion, however, if you feel like the burden of your debt is starting to create […]
How much does it cost to file bankruptcy?
There are two components to figuring the cost for filing bankruptcy. The first, and easiest cost to calculate is the court’s filing fee, which is the amount the court charges to accept a bankruptcy filing. As of June 1, 2014, the court charges and collects $310.00 for a Chapter 13 filing and $335.00 for a […]
Do I need a lawyer to file for bankruptcy?
No, the court does not require that you use an attorney and you may be able to go through the process without an attorney. However, we would not recommend it. An experienced bankruptcy lawyer will be able to help you determine the value of your assets, advise you on what the law allows you to […]
Do both spouses have to file for bankruptcy?
No, there is no requirement in the Bankruptcy Code that a married couple must file bankruptcy jointly. In fact, in many cases our office will not recommend a joint filing. For example, if a couple is newly married and one spouse has brought significant debt to the marriage, then it may be best that only […]