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How to File Chapter 7 Bankruptcy Without A Lawyer TX Part 1

Honest, Experienced Guidance, Whatever Your Financial Problems and Goals

People get in financial trouble for a vast array of reasons beyond their control: job loss and business downturns, divorce, unexpected medical bills, and simply trying to keep up with family needs, to name a few. Our Indianapolis bankruptcy attorneys genuinely understand and want to help you find the best path back to stability. We are a proven resource for:

What Is Bankruptcy And What Will A Us Bankruptcy Court Do For Me

For instance, did you know bankruptcy benefits debtors by giving them partial or complete relief from debts they cant pay? When you file, a court orders an automatic stay and all collection activities of creditors cease which likely will provide you relief from incessant contact with creditors. In the long term, bankruptcy can give you a chance for a fresh financial start.

Depending on the type of bankruptcy you file, your debts may be wiped out or you may have to file a plan with a US bankruptcy court that outlines how your creditors will be repaid .

Youll also get long-awaited emotional relief:

  • Stops creditor harassment
  • Stops most civil lawsuits immediately
  • Rebuilds your credit

Will I Get To Keep My Property

Yesat least some of it. The amount you can keep, or exempt, depends on your states exemption laws. Most states allow you to protect essential household goods, such as kitchenware, furniture, bedding, an inexpensive car, and some jewelry. Other types of exempt property include:

  • your residence
  • retirement funds, such as 401k accounts
  • Social Security, veterans benefits, and disability benefits, and
  • trade or professional tools.

But what happens if you dont want to give up your property? There is a solution: You can buy it from the bankruptcy trusteeand usually at a discount.

Many people end up keeping all of their possessions because they dont own any nonexempt items. But those who own a mix of exempt and nonexempt items will find that the latter will become part of their bankruptcy estate, which the trustee will sell for the benefit of their creditors. Common types of nonexempt property include:

  • homes with more equity than can be exempted
  • timeshares and rental property
  • boats, recreational vehicles, and motorcycles
  • artwork and collectibles

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Navigating Your Bankruptcy Case

Bankruptcy is an unusual area because it’s essentially a qualification process. The laws provide instructions for completing a 50- to 60-page bankruptcy petition, and because all rules apply in every case, you can’t skip a step.

One way to keep track of your research is to use the bankruptcy forms as an outline. You’ll find links to resources in the chart below. You can also look at the list of Chapter 7 and 13 bankruptcy forms to see where this topic fits in the bankruptcy scheme. And this bankruptcy document checklist will help you gather the things you’ll need to complete the petition.

Bankruptcy Information

What Is The Means Test

Chapter 7 Bankruptcy Attorney

The bankruptcy court uses a formula called the means test to determine whether you are eligible to file a Chapter 7 case. This test is designed to prevent individuals from abusing the bankruptcy system. The test combines your average income over the 6 months prior to filing and subtracts certain IRS allowances for basic living expenses and some of your actual living expenses. The means test can be confusing. You also may be exempt from the means test, for various legal reasons. It is important to seek the assistance of a seasonedbankruptcy attorney to assist you with your Chapter 7 filing.

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How Do I File For Bankruptcy In Las Vegas

When you file for Chapter 7 bankruptcy, you stop creditors in their tracks. As soon as you file, creditors must stop collection attempts. That means no more garnishments, foreclosures or even pending lawsuits. You dont have to worry about harassing letters or inconvenient phone calls.

As soon as you file, your debts become a part of the legal proceeding. The bankruptcy proceeding becomes the only place that your creditors can talk about your debts. You have peace of mind because your bankruptcy lawyers handle the processes on your behalf.

Attend Your Debt Education Course

Within 60 days after your 341 hearing, you are required to attend and complete a debt education course from an accredited debt education agency. The debtor education course is different from the credit counseling course. It is more of a financial management course that you need to undergo before getting a discharge. It aims to teach you strategies that will help you rebuild your finances and stay financially healthy.

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What Is Chapter 7 Personal Bankruptcy

A chapter 7 personal bankruptcy is a legal process in which a person who is unable to repay debt he has accumulated will be allowed to walk away from that debt, thereby getting a new financial start. The debtor must make some major sacrifices and these are outlined by the court and a trustee who is retained to oversee the entire process

Filing The Bankruptcy Petition

Chapter 7 Bankruptcy Means Test: Texas Attorney Explains the Formula

An initial bankruptcy petition is filed. There may be additional forms needed by the court or trustee. Meeting the deadlines for submission of these forms is important so that there are no delays in the process, consequences, or case dismissal. My AZ Lawyers know the procedures, the necessary paperwork, rules, and timelines.

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Should I Call A Chapter 7 Bankruptcy Lawyer

While a lawyer isnt needed to file for Chapter 7 bankruptcy, hiring the services of one is always a good idea. A bankruptcy lawyer will work to protect your interests and make sure the process is handled correctly. While hiring legal assistance is more expensive, it should be viewed as an investment that can protect your future and help your financial recovery.

When you pick Miller Law Group, P.C., youre receiving help from a law firm that is completely focused on bankruptcy issues in Massachusetts and the state of Massachusetts. The Chapter 7 bankruptcy process can differ from state to state, so making sure you have help from a local law firm is crucial for the thorough protection of your interests.

We understand that this process can be difficult. Our team makes the process easier by making sure it is handled the right way. Doing so can help ensure that your bankruptcy is successful and that your exempt assets are protected from liquidation.

Seeking Legal Help From Our Dallas Law Firm

At Warren & Migliaccio, our goal is to protect you and your family so that you can take the necessary steps to proactively plan for your future. When financial circumstances outside of your control threaten your wellbeing, take control of your situation by contacting our experienced attorneys. Well guide you through the legal process so you can make informed decisions and choose the best course of action. If a personalized, teamwork-driven approach sounds like what you need for your case, call 584-9614 today. Were here to help.

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Types Of Debt Discharged In Chapter 7 Bankruptcy

Not all debt is discharged in a Chapter 7 bankruptcy. Debts that can be discharged include:

  • Any unsecured debt including personal loans to friends.
  • Past due utility bills
  • Income taxes that are more than three years old.

If the majority of your debt falls into any one of these categories, Chapter 7 bankruptcy will provide you the fresh start you need, and you will be relieved of these debts.

Our Chapter 7 Bankruptcy Attorneys Can Give You The Financial Freedom You Want Without The Headache

Bankruptcy Attorney Bohemia Chapter 7

When youre at the end of your rope, you might wonder if Chapter 7 bankruptcy is best for you. Chapter 7 bankruptcy is a way to wipe out most of your debts and begin with a clean state. If youre considering filing for bankruptcy, there are some things that you should know about how the process works.

Our Chapter 7 bankruptcy attorneys have years of experience helping thousands of deserving people just like you. We can help you harness Nevadas bankruptcy laws to erase your debts and get the fresh start that you deserve.

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Affordable Bankruptcy Lawyer Services In Arizona

ARIZONA Chapter 7Bankruptcy ATTORNEYS

Filing an Arizona Chapter 7 bankruptcy provides debt relief for honest people in Arizona who are in over their heads with debt. Chapter 7 bankruptcy is also referred to as a Fresh Start bankruptcy as it provides people, both white collar and blue collar, with a new, debt free start. Many people find it difficult to keep up with credit card,medical debt, or other bills due to circumstances beyond their control such as: job loss, illness, divorce, or other circumstances beyond their control.

ARIZONA Chapter 13 Bankruptcy ATTORNEYS

Many people in Arizona do not qualify or have debt relief needs that arent able to be addressed by Chapter 7 bankruptcy. Therefore, filing an Arizona Chapter 13 bankruptcy is an effective debt relief route. A Chapter 13 bankruptcy in AZ provides debtors the breathing room they need to pay back a portion of their debts over a 3-5 year period. The Chapter 13 repayment plan is tied to what you can afford.


What Are Bankruptcy Exemptions

The third thing you need to consider when determining whether a Chapter 7 bankruptcy case is the right way to go for you is whether you have any assets that the Trustee might want to liquidate to pay your creditors. Technically, a Chapter 7 bankruptcy case is a liquidation of your assets and a discharge of your unsecured debts. There are exemptions that are available to you to protect a certain amount of equity in property so you may not have to surrender any of your property when filing a Chapter 7 bankruptcy case. Bankruptcy exemptions can be complicated so it is advisable to have an attorney assist you in determining whether you have a potential equity issue in filing a Chapter 7 case. If you file by yourself and get it wrong, you may end up losing your home, family property, or vehicle. In addition to making sure you dont have any equity in property that cannot be exempted, you also need to make sure you have not transferred any property in the past that might allow the Trustee to reverse the transfer and liquidate the property. The Trustees powers to reach back and undo transfers of property are extensive. The Trustee has the ability to step into the shoes of a creditor and use any applicable non-bankruptcy law to reach back and undo property transfers. Getting an experienced bankruptcy attorney to advise you regarding property transfers could save you from losing property you transferred many years ago.

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Some Of The Most Common Property Exemptions Include:

  • Homestead exemption: This exemption protects up to $35,000 in equity for a property that is used as a residence.
  • Burial plots: If you do not use the homestead exemption, you can exempt up to $35,000 in equity for burial plots.
  • Motor vehicles: If you purchased your vehicle more than 90 days before filing for bankruptcy, you can exempt up to $3,500.
  • Personal property: You may exempt $5,000 for personal property such as clothing, furniture, appliances, etc. You may also exempt $1,000 in personal property per dependent .
  • Professional tools: You may exempt up to $2,000 in tools and other instruments used as part of your trade.
  • Wages: If you earned wages 60 days before the filing but were not paid, those wages are exempt.
  • Government benefits: This includes money for unemployment, workers compensation benefits, veterans benefits, future Social Security benefits, etc.
  • Alimony, child support, and separate maintenance: If you are receiving payments for alimony, child support, or separate maintenance, you may be able to prove that these are necessary and therefore exempt.
  • Personal injury claim compensation: If you received compensation as the result of a personal injury claim, that money is considered exempt under many circumstances .
  • Retirement and pensions: The majority of pensions and retirement plans are considered exempt.
  • Life insurance: If you have life insurance for the benefit of your children or spouse, it would be exempt, along with any employee group life insurance.

Can I Qualify For Chapter 7 If I Am Over Median Income

What Does Your Chapter 7 Trustee Really Think About Your Case

Yes! If you are under median income, you income-qualify for a Chapter 7, but thats not to say that youre not eligible if youre over median income. If you are over median income, we simply need to move on to the second part of the means test. This second part considers your debts and expenses such as mortgage or rent payments, car payments, etc.

Many of our clients are over median income and still qualify for Chapter 7. The only way to know for sure is to contact our Chapter 7 bankruptcy attorneys for a free bankruptcy consultation. Our experience with the means test allows us to make sure we take every possible deduction to make sure you qualify for Chapter 7 when appropriate.

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How Much Are Chapter 7 Bankruptcy Fees

The filing fee for a Chapter 7 is $358.00 which includes the court cost of $335.00, the credit counseling course that everyone must take when they file a bankruptcy case and we pull your credit report from the credit reporting agencies. The attorney fees in a Chapter 7 vary depending on the complexity of your case but you can expect to pay approximately $1,500.00. We offer a payment plan, so you can spread the payments out to make them affordable for you.

To find out if we can assist you in the bankruptcy process, contact Burrow & Associates. Give us a call at 323-2394 or request a consultation today. We are conveniently located in cities around the state of Georgia including Athens, Conyers, Duluth, Morrow, Kennesaw, and Gainesville.

What Is A Bankruptcy Lawyer

A bankruptcy lawyer specializes in giving legal advice to a client about bankruptcy, prepares legal documents for the client and represents the client in court. An attorney must hold a law degree and be licensed in the state where they do business.

As your guide through the bankruptcy process, a lawyer can advise you about matters such as:

  • Whether to file for bankruptcy
  • Which type of bankruptcy to file
  • How the bankruptcy process works
  • Which court-provided forms need to be completed
  • What kinds of debts can be reduced or eliminated
  • Whether youll be able to hang on to your home, car or other property after the bankruptcy case is finished

Overall, a bankruptcy lawyer can steer you in the right legal direction. If you handle a bankruptcy case without a lawyer, you may make legal mistakes that carry long-term financial consequences.

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Debts That Will Not Be Discharged

If you have any of the following type of debt, Chapter 7 may not be the proper bankruptcy proceeding for you since these debts will not be discharged. That means you will still owe them at the end of the bankruptcy process.

  • Outstanding child support or alimony.
  • Any debt you owe that was imposed by a court because you broke the law.
  • Student loans: the law is changing on this rule, but as it stands now, you have to show that repaying your loans would be an extreme hardship. This is a difficult thing to do and student loans are rarely discharged in bankruptcy proceedings.

If youre having financial problems as a result of one of these debts, dont let that stop you from considering bankruptcy! At Bond & Botes, you will meet with an attorney who can help you examine all your options on the path to financial recovery.

Contact us at the Bond & Botes law offices. We offer a free initial consultation with an experienced lawyer who keeps up to date on federal and state bankruptcy laws. The attorney will review your financial situation and determine if Chapter 7 bankruptcy is the right approach for you.

How Will A Chapter 7 Protect Me

Chapter 7 Bankruptcy Attorneys in Valdosta Make Life Easier

When you file a Chapter 7 case, an automatic stay goes into effect that prevents any creditor from taking collection action against you. The duration of the automatic stay will generally extend for the duration of the case, unless you have had prior cases dismissed within the past 12 months or you are surrendering property. The Chapter 7 case will stop any garnishments, pending civil litigation to collect on a debt, evictions , repossessions, or foreclosures. Since a Chapter 7 case does not propose to pay back any arrears on apartment rent, homes, or vehicles, you should be prepared to surrender the property shortly after you file the bankruptcy case unless you can work something out with the creditor. The amount of time you have will depend on how aggressive the creditor is in retrieving the property.

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Do You Qualify For Chapter 7 Bankruptcy

Each state has what is called a means test to determine if you qualify for Chapter 7 bankruptcy. This means your income must be lower than the median income for your state. If your income is too high, you generally do not qualify. A bankruptcy attorney will evaluate your income and your expenses of daily living. If your expenses are very high, you may still qualify even if your income is too great. Many of our attorneys at Bond & Botes have been practicing bankruptcy law since before the means test was invented. We have years of experience to help you make sense of this complicated area of the law.


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