BANKRUPTCY

Bankruptcy is a process under Federal law which allows you to either discharge you debts and start new with a clean slate or to work a payment plan that is more manageable than your current payments in an effort to pay off a substantial portion of your debt.  Most of the bankruptcies we file are complete discharge bankruptcies under Chapter 7 of the Bankruptcy Code.  To qualify for a complete discharge we must closely evaluate the following:

A. Your debts;

B. Your income;

C. Your expenses of living; and

D.  Your assets.

Bankruptcy is designed to allow you to discharge your debts while keeping your basic belongings. The law permits you to exempt certain categories of property up to stated dollar limits. For most average households coming within the limits is not a problem. Occasionally, we have a client who owns a vehicle or has equity in a home or owns land or has a pending lawsuit. Those situations require special consideration, and in some instances that property can be sold by the bankruptcy trustee to help pay debts.

Once bankruptcy has been filed all efforts to collect from you by creditors must stop immediately. Bankruptcy can stop foreclosure, repossession, garnishment, and harassing telephone calls.

We also work with clients to put an end to collection harassment and improper, threatening and dunning calls. The Fair Debt Collection Practices Act governs what bill collectors can or cannot do. In extreme cases we have filed suit for damages.

I would welcome the opportunity to meet with you and discuss your bankruptcy options further.

EMERGENCY PETITIONS

Often clients come in and need to file an emergency petition to stop a foreclosure or garnishment. I can file your petition the same day we meet and give immediately notice to the court conducting the foreclosure or garnishment that the proceeding must stop until further action by the Bankruptcy Court.

To facilitate the filing of your petition please print the Forms 1 and 7 and complete the information requested, also please complete the information requested in Schedules A,B, D, F, I, and J. I will make sure that the information you provide is in the proper form before the petition is filed with the court.

Forms are available at:  BANKRUPTCY FORMS

CREDIT COUNSELLING

Before you may file, or shortly thereafter if filing an emergency petition, you must complete an approved credit counselling course. You may accesss and complete a home course by purchasing the course materials from CFEFA at the following link: CFEFA