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FAQ

  • Is There An Alternative To Filing For Bankruptcy?
    Bankruptcy is not the only method of dealing with too much debt. In some situations another way might be more advantageous to the debtor than filing bankruptcy. Such alternatives may include: -Out-of-court settlement with creditors -Reduction of payments to creditors -Attaining help from a consumer credit counseling service -Payment of debts by sale of assets or borrowing on assets -However, these methods require cooperation from creditors, and the chances of success are greater if the debtor attempts these alternatives soon after financial difficulties begin.
  • How Do I File A Bankruptcy Petition?
    A bankruptcy case is started by filing a petition with the bankruptcy court in the federal judicial district and division where the debtor resides. If the debtor is filing a chapter 7 or 13, the debtor must first obtain a certification that he or she received credit counseling to be eligible to file a bankruptcy petition. The petition contains a request for relief under one of the chapters of the bankruptcy code. A debtor must file a statement regarding various financial matters and disclose all creditors and assets. A debtor is required to appear at a meeting conducted by either a trustee or the United States Trustee, during which creditors may ask questions regarding the debtor’s finances, assets, and liabilities. Depending on the bankruptcy chapter filed and the complexity of the case, the debtor may also be required to appear at hearings before a bankruptcy judge. If the debtor’s debt is primarily consumer debt, a means test calculation must be done. (Official Form B22C).
  • Do I Need A Lawyer?
    As in any court, individuals have a right to represent themselves before the bankruptcy court. However, bankruptcy is a complex area and involves many considerations, including: Whether to file Election of the appropriate chapter Use of exemptions Understanding protections the bankruptcy code offers Using protections to the debtor’s advantage The right decision for you depends on an evaluation of your family status, your assets, your obligations, and other factors. It is a very serious step that could affect you for the rest of your life. It is possible in a bankruptcy for a debtor to lose all assets and still owe all the original debts. A lawyer can explain to you how the process works and can help you reach an intelligent decision. Some debtors use non-lawyer bankruptcy petition preparers or filing services to complete the schedules and documents which must be filed with the bankruptcy petition. While this may cost less initially than consulting an attorney, these non-lawyer services cannot, by law, give legal advice before or after the filing, and cannot represent the debtor in bankruptcy court. If you are contemplating a chapter 13 case, then the need to be represented by an attorney is even greater. Certain complexities in the law make it extremely difficult for a debtor to successfully conclude a chapter 13 case without the assistance of an attorney. A corporation cannot represent itself in a bankruptcy case and must be represented by an attorney.
  • Is There An Alternative To Filing For Bankruptcy?
    Bankruptcy is not the only method of dealing with too much debt. In some situations another way might be more advantageous to the debtor than filing bankruptcy. Such alternatives may include: -Out-of-court settlement with creditors -Reduction of payments to creditors -Attaining help from a consumer credit counseling service -Payment of debts by sale of assets or borrowing on assets -However, these methods require cooperation from creditors, and the chances of success are greater if the debtor attempts these alternatives soon after financial difficulties begin.
  • How Do I File A Bankruptcy Petition?
    A bankruptcy case is started by filing a petition with the bankruptcy court in the federal judicial district and division where the debtor resides. If the debtor is filing a chapter 7 or 13, the debtor must first obtain a certification that he or she received credit counseling to be eligible to file a bankruptcy petition. The petition contains a request for relief under one of the chapters of the bankruptcy code. A debtor must file a statement regarding various financial matters and disclose all creditors and assets. A debtor is required to appear at a meeting conducted by either a trustee or the United States Trustee, during which creditors may ask questions regarding the debtor’s finances, assets, and liabilities. Depending on the bankruptcy chapter filed and the complexity of the case, the debtor may also be required to appear at hearings before a bankruptcy judge. If the debtor’s debt is primarily consumer debt, a means test calculation must be done. (Official Form B22C).
  • Do I Need A Lawyer?
    As in any court, individuals have a right to represent themselves before the bankruptcy court. However, bankruptcy is a complex area and involves many considerations, including: Whether to file Election of the appropriate chapter Use of exemptions Understanding protections the bankruptcy code offers Using protections to the debtor’s advantage The right decision for you depends on an evaluation of your family status, your assets, your obligations, and other factors. It is a very serious step that could affect you for the rest of your life. It is possible in a bankruptcy for a debtor to lose all assets and still owe all the original debts. A lawyer can explain to you how the process works and can help you reach an intelligent decision. Some debtors use non-lawyer bankruptcy petition preparers or filing services to complete the schedules and documents which must be filed with the bankruptcy petition. While this may cost less initially than consulting an attorney, these non-lawyer services cannot, by law, give legal advice before or after the filing, and cannot represent the debtor in bankruptcy court. If you are contemplating a chapter 13 case, then the need to be represented by an attorney is even greater. Certain complexities in the law make it extremely difficult for a debtor to successfully conclude a chapter 13 case without the assistance of an attorney. A corporation cannot represent itself in a bankruptcy case and must be represented by an attorney.
  • Is There An Alternative To Filing For Bankruptcy?
    Bankruptcy is not the only method of dealing with too much debt. In some situations another way might be more advantageous to the debtor than filing bankruptcy. Such alternatives may include: -Out-of-court settlement with creditors -Reduction of payments to creditors -Attaining help from a consumer credit counseling service -Payment of debts by sale of assets or borrowing on assets -However, these methods require cooperation from creditors, and the chances of success are greater if the debtor attempts these alternatives soon after financial difficulties begin.
  • How Do I File A Bankruptcy Petition?
    A bankruptcy case is started by filing a petition with the bankruptcy court in the federal judicial district and division where the debtor resides. If the debtor is filing a chapter 7 or 13, the debtor must first obtain a certification that he or she received credit counseling to be eligible to file a bankruptcy petition. The petition contains a request for relief under one of the chapters of the bankruptcy code. A debtor must file a statement regarding various financial matters and disclose all creditors and assets. A debtor is required to appear at a meeting conducted by either a trustee or the United States Trustee, during which creditors may ask questions regarding the debtor’s finances, assets, and liabilities. Depending on the bankruptcy chapter filed and the complexity of the case, the debtor may also be required to appear at hearings before a bankruptcy judge. If the debtor’s debt is primarily consumer debt, a means test calculation must be done. (Official Form B22C).
  • Do I Need A Lawyer?
    As in any court, individuals have a right to represent themselves before the bankruptcy court. However, bankruptcy is a complex area and involves many considerations, including: Whether to file Election of the appropriate chapter Use of exemptions Understanding protections the bankruptcy code offers Using protections to the debtor’s advantage The right decision for you depends on an evaluation of your family status, your assets, your obligations, and other factors. It is a very serious step that could affect you for the rest of your life. It is possible in a bankruptcy for a debtor to lose all assets and still owe all the original debts. A lawyer can explain to you how the process works and can help you reach an intelligent decision. Some debtors use non-lawyer bankruptcy petition preparers or filing services to complete the schedules and documents which must be filed with the bankruptcy petition. While this may cost less initially than consulting an attorney, these non-lawyer services cannot, by law, give legal advice before or after the filing, and cannot represent the debtor in bankruptcy court. If you are contemplating a chapter 13 case, then the need to be represented by an attorney is even greater. Certain complexities in the law make it extremely difficult for a debtor to successfully conclude a chapter 13 case without the assistance of an attorney. A corporation cannot represent itself in a bankruptcy case and must be represented by an attorney.
  • Is There An Alternative To Filing For Bankruptcy?
    Bankruptcy is not the only method of dealing with too much debt. In some situations another way might be more advantageous to the debtor than filing bankruptcy. Such alternatives may include: -Out-of-court settlement with creditors -Reduction of payments to creditors -Attaining help from a consumer credit counseling service -Payment of debts by sale of assets or borrowing on assets -However, these methods require cooperation from creditors, and the chances of success are greater if the debtor attempts these alternatives soon after financial difficulties begin.
  • How Do I File A Bankruptcy Petition?
    A bankruptcy case is started by filing a petition with the bankruptcy court in the federal judicial district and division where the debtor resides. If the debtor is filing a chapter 7 or 13, the debtor must first obtain a certification that he or she received credit counseling to be eligible to file a bankruptcy petition. The petition contains a request for relief under one of the chapters of the bankruptcy code. A debtor must file a statement regarding various financial matters and disclose all creditors and assets. A debtor is required to appear at a meeting conducted by either a trustee or the United States Trustee, during which creditors may ask questions regarding the debtor’s finances, assets, and liabilities. Depending on the bankruptcy chapter filed and the complexity of the case, the debtor may also be required to appear at hearings before a bankruptcy judge. If the debtor’s debt is primarily consumer debt, a means test calculation must be done. (Official Form B22C).
  • Do I Need A Lawyer?
    As in any court, individuals have a right to represent themselves before the bankruptcy court. However, bankruptcy is a complex area and involves many considerations, including: Whether to file Election of the appropriate chapter Use of exemptions Understanding protections the bankruptcy code offers Using protections to the debtor’s advantage The right decision for you depends on an evaluation of your family status, your assets, your obligations, and other factors. It is a very serious step that could affect you for the rest of your life. It is possible in a bankruptcy for a debtor to lose all assets and still owe all the original debts. A lawyer can explain to you how the process works and can help you reach an intelligent decision. Some debtors use non-lawyer bankruptcy petition preparers or filing services to complete the schedules and documents which must be filed with the bankruptcy petition. While this may cost less initially than consulting an attorney, these non-lawyer services cannot, by law, give legal advice before or after the filing, and cannot represent the debtor in bankruptcy court. If you are contemplating a chapter 13 case, then the need to be represented by an attorney is even greater. Certain complexities in the law make it extremely difficult for a debtor to successfully conclude a chapter 13 case without the assistance of an attorney. A corporation cannot represent itself in a bankruptcy case and must be represented by an attorney.
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