Chapter 7 bankruptcy is for individuals or businesses who are unable to pay their debts with the ultimate goal of discharging your debts or eliminating your personal liability for your debts. If you have any assets that are not exempt, the trustee may be able to sell any of those assets to pay your creditors.
In order to qualify to file a Chapter 7, your income must meet a means test or fall below a certain level. If your income does not meet the means test, we can explore whether a Chapter 13 or a Chapter 11 is appropriate for you.
In order to file a Chapter 7 bankruptcy, the court requires a $335 filing fee. In addition to the filing fee, I charge a flat fee for my time, which varies depending on the complexity of your situation. I do offer flexible payment options for my fee. After I evaluate your situation during your free initial evaluation, I will be able to provide you with an exact cost.
Exemptions are certain types of assets that are protected under state or federal law from being sold by the trustee to pay your creditors in a Chapter 7 bankruptcy. In other words, you are allowed to keep your exempt assets. As your attorney, I will evaluate your assets and work with you to maximize your exemptions.
I will file your case after you have retained me and gathered all of the required paperwork. From the day your case is filed to the day you receive your discharge typically takes about 3 to 5 months.
In most cases, yes. Collection agencies are no longer allowed to call you once you file bankruptcy.
In most cases, yes. Filing bankruptcy stops all creditor activity against you. In some cases, we may be able to get back some of the money the creditor garnished from your wages or bank account.
A Chapter 13 bankruptcy is for individuals who are behind on their mortgage but want to keep their home. It is also for individuals who do not qualify to file Chapter 7 and who want to reorganize their debts. A Chapter 13 allows you to enter into a payment plan with your creditors over a 3 to 5 year period. At the end of that period, any remaining debts that were not paid over the course of the 3 to 5 year period are discharged.
Like a Chapter 7 bankruptcy, I will file your case after you have retained me and gathered all of the required paperwork. You will then need to wait a couple of months to learn if the court approved your plan for repayment. Once the court approves your plan, you will then begin making payments on your plan over a 3 or 5 year period, depending on your situation.
In order to file a Chapter 13 bankruptcy, the court requires a $310 filing fee. In addition to the filing fee, I charge a flat fee for my time, which varies depending on the complexity of your situation. I do offer flexible payment options. In addition to the filing fee and the attorney fee, plan on two credit counseling fees (ranging from $25 to $50 each) as you are required to take a credit counseling course before and after you file bankruptcy.
If you file a Chapter 13 bankruptcy, and your plan is confirmed, and you are committed to catching up on your past due mortgage payments, you may be able to avoid foreclosure and keep your home.
Chapter 11 bankruptcy is most commonly used by businesses to prevent shutting down the business. Chapter 11 bankruptcy is also an option for individuals whose debt is higher than Chapter 13 limits.
Chapter 11 bankruptcy allows businesses and individuals to reorganize their debts and renegotiate better terms in their leases, secured debts, and unsecured debts.
I will discuss all of your options with you at your initial appointment. Some alternatives to bankruptcy may include negotiating with your creditors or with the IRS to settle your debts for a smaller amount in one lump sum, reanalyzing your budget, refinancing or in some cases possibly doing nothing.
There are situations where you may be able to bankrupt your student loans. If your situation does not allow you to bankrupt your student loans, you may have other options to deal with the burden. Schedule a free initial appointment today to discuss your options in dealing with your student loans.
It can be difficult to talk about financial hardship. Attorney Frew immediately put me at ease. She was professional, calm and worked with me to find a solution. I never felt judged or embarrassed when talking to her.