Complete The Required Bankruptcy Courses
Before you file for bankruptcy in Illinois or Missouri, you have to take a credit counseling course from an approved course provider. You have to do this within six months of filing for bankruptcy, but you certainly dont have to go to a school or education center to do it. You can do it online.
The same goes for another financial education course required for bankruptcy. Before a court will agree to discharge your debts, you have to take an approved debtor education course and file a form with the court to state that you did so. You can also do this one online.
No Attorney Client Relationship
Your submission allows processing of your bankruptcy petition for the eventual electronic filing of a Bankruptcy Petition under Title 11 of the United States Code to the United States Bankruptcy Court. While all submissions are completely confidential, no attorney-client relationship is created or formed as a result of the submissions to this website. No attorney-client relationship exists until and unless a written agreement is executed by you and the Attorney. Doan Law specifically does not represent you in any legal matter until a written agreement is executed between you and the firm.
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Contact The Pope Firms Bankruptcy Lawyer Today
Dont hesitate to contact the competent legal team at The Pope Firm if youre facing repossession or wage garnishment, and you think the professionals can help you with your online bankruptcy case or a bankruptcy discharge. Our professionals offer all clients a free evaluation where you can meet our representatives and ask any questions you need to know about your case. We wont initiate an attorney-client relationship until youre ready, so you wont have to pay attorney fees to our law firm until you accept us as your official representation.
The Pope Firms goal is to help all our clients navigate bankruptcy with as little fanfare as possible, whether it is from our offices in Kingsport, Knoxville, or Johnson City, TN. Call us today to start the process.
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Legal Assistance For Low Income Debtors
Legal advice for those in low-income situations comes in many forms. Keep in mind there are many ways to address the cost of bankruptcy. A tax refund could be applied to attorney fees. One could stop paying unsecured debts and use that money for an attorney and ask the debt be addressed in bankruptcy. Property that isnt exempt from bankruptcy could be sold think jewelry, the antique furniture or painting passed down by your uncle, a car that isnt necessary.
In addition, legal help is available to those in need, though the availability varies by location. Some bankruptcy courts have free clinics to help people file on their own. Legal aid groups and pro bono attorneys will work for free. Call the local Legal Aid Society in your area, the state bar or check the web site for the local bankruptcy court to find information.
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Do I Need A Lawyer To File Bankruptcy
This is where it gets tricky, but also is very important. The Central District of California in Los Angeles allows online filing for those filing without an attorney, and has since 2014. But the practice has not caught on nationally.
The U.S. Courts website says that you can file on your own, otherwise called pro se. But it cautions that filers must understand the rules and procedures in federal court, the U.S. Bankruptcy Code and the Federal Rules of Bankruptcy Procedure as well as the local rules of the court where the case is filed.
Its not simple. Lieberman said that its almost impossible to file Chapter 13 without a lawyer, and judges and trustees generally discourage filing pro se in all circumstances.
Bankruptcy is federal law, Lieberman said. But every jurisdiction has local rules and all the rules are different. If a motion needs to be filed, that motion may be different in Ohio than it is in Kentucky.
Each case differs in details, and Lieberman said a consumer could be hurt by improper filing or not having the right information. He points out that non-federal students loans typically are excluded from bankruptcy, but a lawyer may be able to work out an arrangement.
He remembered a man who borrowed money to go to flight school, but had to give up piloting when a car accident left him impaired. An agreement was worked out between the attorney and filer.
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Free Convenient Online Intake
Every Kentucky bankruptcy lawyer has an intake to complete. However, our office has a convenient online intake where you access it from your home or work computer. We have helped soldiers in Korea and Iraq file remotely using our intake and methods. Your intake is where you list your assets, debts, income, and expenses.
Doing the intake at home lets you take your time to look up information like the addresses for the debts and fill up bankruptcy forms. Moreover, you can do it at 1 am because you dont have to go to a law office to complete it. I think online completion of the intake is far better because you get to do it in the comfort of your own home, and the accuracy ends up being better than if it is done in the office.
A Kentucky bankruptcy petition consists mostly of a budget listing income, expenses, assets, and liabilities. Your online bankruptcy intake is here, and it should not take over 2 hours to complete. After you gather your documents and input your data into this online intake, you will be ready to come in and prepare the petition with Nick. Some people do the whole process in one trip.
Please make an appointment to come in and file. To prepare the petition we must have your income information. We must have the counseling certificate to file the petition but we dont need the counseling certificate to prepare the petition.
Reasons Not To File For Bankruptcy
Here are some reasons bankruptcy might not be a good idea for you:
- Bankruptcy stays on your credit report for 7 to 10 years or can negatively impact your credit rating,
- Getting credit may be harder or more expensive during or after a bankruptcy,
- It may cause strain in relationships with some creditors and cosigners,
- You may have to return property that is not paid for ,
- You can only get a chapter 7 discharge once every eight years, and
- You may be able to protect your income and property without filing bankruptcy.
Also, the following types of debt will remain even after a bankruptcy:
- Unpaid child support payments,
- Unpaid maintenance or alimony payments,
- Unpaid fines,
- Most unpaid state and federal taxes,
- Criminal restitution orders,
- Debts due to fraud, theft or embezzlement,
- Damages to another person caused by drunk driving or something done on purpose, and
- Debts from a property settlement in a divorce.
Finally, here is a list of things bankruptcy cannot do for you:
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How Much Does Chapter 7 Bankruptcy Cost
The bankruptcy court is a federal court and requires a $338 filing fee. If you earn below 150% of the Federal Poverty Line, you may qualify for a fee waiver. People who are on social security or unemployed usually qualify for a fee waiver. You can pay the fee in installments if you make a request and the court agrees.
The two online education courses each cost between $10 and $50, depending on the credit counseling agency you choose. You can also qualify for a fee waiver for these courses, based on your income.
If you hire an attorney, the most expensive cost in bankruptcy is your attorney fee. It costs an average of $1,500 to hire a bankruptcy attorney for a Chapter 7 case.
A Quick Bankruptcy Filing Can Stop Impending Creditor Action Learn How Fast You Can File An Emergency Bankruptcy Online
Sometimes you need to stop a creditor’s action fast. Filing for bankruptcy can help. When you open a case, the court puts an automatic stay in place that prohibits most creditors from continuing collection actions against you .
But, completing all the bankruptcy forms isn’t a quick process. If time is running short, you can use a fast online bankruptcy filing process known as an emergency bankruptcy filing , get the automatic stay in place, and submit the remaining documents later.
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Working With A Bankruptcy Trustee
Following filing the bankruptcy forms, the court will assign you a trustee to benefit from Kentucky bankruptcy exemptions. The Trustee is a legal professional who verifies information in the forms. The Trustee looks for a property that can be taken from you and sold. This rarely happens unless the Debtor is dishonest and fails to tell the truth to the attorney. Losing property most often happens when you transfer property to another person. Exemptions allow you to keep your property to achieve a fresh start. You can exempt someone elses property after you sell or give it away.
The Trustee is also responsible for checking the accuracy of your petition.
Filling Out The Bankruptcy Schedules And Forms
It is extremely important to fill out the forms for a bankruptcy case accurately. The forms include the information on you assets and liabilities income and expenses plus about 26 questions on how you may have transferred property and conducted business. Be sure to include all the information on your credit card debt, personal property, income, expenses, unsecured debts, and even medical bills or retirement accounts if you have them. You can do this in our online intake.
It can sometimes be tedious to file a petition with the federal court since you must fill out multiple forms. Failing to disclose any debt on the forms, may mean you will have to pay it later. Therefore, you must be very careful when preparing the schedules and forms.
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Attend A Financial Management Course
The list of approved debt education courses is available at the Department of Justice website. InCharge Debt Solutions is an approved agency with our own online bankruptcy course. The course must be completed within 45 days of meeting with your trustee and creditors.
Lieberman said anyone considering bankruptcy should take the important first step of using an internet search engine to find the bankruptcy court for their area. Each site has a plethora of information for consumers and filers.
Is Online Bankruptcy Possible Yes And No
The world today is online. You can order groceries online. You can buy a car online. You can go to work online. But can you file for bankruptcy online? For the most part, yes. But some parts of the process still require an in-person touch.
If you are planning to file bankruptcy online without a lawyer, you will likely have to do several parts of the process in person rather than online. But attorneys already have to use the online filing function of the U.S. Courts system. That means a lawyer can do almost all of the work of your bankruptcy online.
The ability to use the online filing system is unique to attorneys, though, so while this may sound like a great option for you, youre likely going to need a lawyers help to actually do it online. If you work with an attorney for your online bankruptcy, you may be able to complete your initial consultation with the lawyer online, email all of your financial information to them, and pay them online.
In other words, working with a bankruptcy lawyer is the option that gets you closest to filing for bankruptcy online.
Keep in mind that this does not apply to bankruptcy petition preparers who are not lawyers. These services are often conducted online, but in the end, you are the one who files your bankruptcy petition with the court. And you usually cant do that part online.
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Heres A List Of The Forms You Must File In Chapter 7 Bankruptcy And Where To Find Them
By Kathleen Michon, Attorney
When you file for Chapter 7 bankruptcy, you must complete and file a packet of forms. Heres a list of the many forms youll need to file for Chapter 7, and where to find them.
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What Debt Can’t Be Erased
Chapter 7 bankruptcy cannot erase the following types of debts:
Child support and alimony
Recent tax debts and other debts you owe the government like fines
Student loans can usually not be erased
These debts are known as non-dischargeable debts.
Secured debts are debts that are connected to a specific property, like a mortgage is connected to a house and a car loan is connected to a specific car. If you want to keep your property that secures a debt, you’ll have to continue paying on the debt. Before you file, you must also make sure youâre current on your debt payments. If youâre willing to give up the property, then Chapter 7 bankruptcy can erase the debt.
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Five: First Meeting Of Creditors
This meeting is held by the Trustee assigned to your case. You must go to the meeting. The court posts driving directions to the creditor meeting sites.
The Trustee will determine whether you have any unprotected assets that can be liquidated to pay creditors. He will also review your situation to determine whether he should object to your discharge.
Pay close attention to the Trustees instructions. He will making important decisions about your case.
Find Out If You Are Eligible
If your debts exceed 1.5 million you are probably ineligible to file a Chapter 13 as of June 2022. But we expect these limits to increase. You can also only get one discharge after waiting a period of time after your prior bankruptcy. The chart is in our free manual.
You can own a business and file a Chapter 13 bankruptcy but a business like a partnership or corporation can not file. Only humans can file a Chapter 13. According to the bankruptcy laws in Kentucky, businesses can only file a Chapter 7 or 11. To file any bankruptcy you must have filed your income taxes for the prior years and provide them to the trustee.
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Can I Keep My Property If I File Chapter 7 Bankruptcy
In 95% of Chapter 7 bankruptcy cases, people are able to keep all of their property. The Bankruptcy Code has rules in place called exemptions that allow you to keep several types of property, such as cash, clothes, furniture, cars, etc. up to a certain dollar amount, known as âexemption limits.â
The specific exemptions you can use to keep your property depend on your state. Many states have wildcard exemptions that allow you to keep any property as long as itâs worth less than a certain amount. If your state permits it and you choose to use the federal bankruptcy exemptions, you can protect up to $1,475 with the wildcard exemption plus an additional $13,950 if you don’t use the homestead exemption.
If your property value exceeds the exemption limit that applies, the trustee may seize the property and sell it to pay back your creditors. This is why people call Chapter 7 a liquidation bankruptcy, although any liquidation rarely takes place.
Property that isnât protected by exemptions is considered nonexempt property. The most common forms of nonexempt property are expensive cars and homes.
When To File Chapter 7 Bankruptcy
Filing for bankruptcy may well be the right choice. But the successful discharging of your debts will weigh heavily on your financial future for several years. Dont be hasty. Make certain you have scrutinized the five warning signs before you make your final choice.
It is a common misconception that individuals and couples should file Chapter 7 bankruptcy at the first sign of trouble, says Sumeet Sinha, founder and CEO of finpins.com, a personal finance blog and educational resource. You may consider Chapter 7 if creditors are harassing you, garnishing your wages and bank accounts and you have no way to pay off the debts. You may consider Chapter 7 as a last resort after your best efforts to pay your debts fail.
Five strong signs that indicate filing for Chapter 7 may be the correct remedy include:
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Attend A Creditors Meeting
The trustee will schedule a meeting within 40 days of your filing. You will be put under oath and be asked questions. The trustee might try to work out a voluntary solution with creditors in order to avoid further Chapter 7 action.
The creditors meeting, also known as a 341 meeting, is where the trustee will ask you questions under oath about your financial situation.
Dont worry, according to thebankruptcysite.org, these meetings typically only last about 1-2 minutes.
Reviewing The Necessary Documents
The bankruptcy judge and the trustee believe most of what people say in their testimonies. However, they still verify your income, expenses, property, and debts before giving you the discharge. It isnt enough for you to claim you only make $4,000 per month after filing. They want to see your pay stubs and taxes to verify your average income and expenses. The documents required by them must be organized, scanned in as a pdf document, and then sent to them.
Here is our Bankruptcy checklist of these required documents. We cannot file any bankruptcy without these documents in our hands. You must know that the failure to produce the documents to judges in Kentucky and the trustee within a few days after filing the bankruptcy can cause the bankruptcy petition to be dismissed.
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