Get American Board Of Certification General Bankruptcy Law - Multiple Choice

You are not required to have an attorney to file for bankruptcy. In some simple Chapter 7 cases, you can file on your own (it's called filing "pro se," meaning that you represent yourself) if you are willing to put in some time and research. However, in many cases, it's a good idea to have a bankruptcy attorney.

Wave the Chapter 7 fees In other circumstances you may be able to file a petition with the court to reduce or eliminate your Chapter 7 filing fee. Finally, the best possible advice for any who has any amount of income through a job is to stop paying anyone and take your next paycheck directly to a bankruptcy attorney.

Analyze your debt. ... Determine your property exemptions. ... 3. Make sure you are eligible. ... Redeem or reaffirm secured debts. ... Fill out the bankruptcy forms. ... Take a credit counseling course. ... File the forms. ... Pay the filing fee or request a fee waiver.

For a Chapter 7 case, the fee is $335. For a Chapter 13 case, the fee is $310. The Bankruptcy Trustee may charge a fee of $15 to $20 when you file, as well. You may request to pay the filing fees in installments; most courts will allow it if you can show it would be a financial hardship to pay all at once.

represent yourself as a pro se debtor. negotiate reduced attorneys' fees. pay your fees through your Chapter 13 repayment plan. seek help from a free legal clinic or legal aid society, or. find a pro bono attorney who will take your case free of charge.

The Chapter 7 bankruptcy process typically takes from four to six months to complete. For the person filing, it involves filling out and filing some forms, attending a meeting with the creditors and a court-appointed bankruptcy trustee, and getting most or all of the debts discharged. There are filing fees of $335.

In general, costs ranging from $500 to $3,500 are considered typical for Chapter 7. You'll be required to pay the fee before you file, since attorney's fees could qualify as part of the debt discharged in a successful Chapter 7 filing.

A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code.

People in bankruptcy must list all of their properties and their debts. In filing a personal bankruptcy, there's chapter 7 and 13 . ... Chapter 7 is protection from creditors granted to individuals or companies who legally file for bankruptcy, providing for liquidation of certain assets to pay debts.

First off, bankruptcy filers must pay a filing fee. For a Chapter 7 case, the fee is $335. For a Chapter 13 case, the fee is $310. The Bankruptcy Trustee may charge a fee of $15 to $20 when you file, as well.

What Happens When You File. When you file for bankruptcy, you get an automatic stay. Basically, this puts a block on your debt to keep creditors from collecting. While the stay is in place, they can't garnish your wages, deduct money from your bank account, or go after any secured assets.

Filing for bankruptcy has a bad reputation in many circles due to the fact that it damages your credit and involves discharging debts that will likely never be repaid. Sure, Chapter 7 bankruptcy isn't great for your credit score and will appear as a public record for 10 years after filing.

Having a job won't stop you from filing for bankruptcy. Yes, employed people can file for bankruptcy, and often do.

Don't Transfer Money or Property. ... Don't Pay Creditors. ... Don't Use Credit Cards. ... Don't Make Unusual Deposits Into Your Bank Account. ... Don't Sue Anybody. ... Think Carefully Before Taking Actions That Would Result in Future Payments. ... Waiting to File.