There are many circumstances in life, which unfortunately lead many of us to seek financial relief from creditors under The Bankruptcy Code. You may have the loss of income, an illness, a divorce, a collection judgment, a deficiency on the repossession of a vehicle or the foreclosure of a home. You may have debt from the closing down of a business or an abundance of medical bills due to lack of medical insurance.
A Chapter 7 Bankruptcy Proceeding, which is called a Liquidation Bankruptcy, affords one the ability to acquire “A Fresh Start” in the ability to discharge, or rid themselves of all of their listed, unsecured debt, which is described above. Upon the filing of a Chapter 7 Bankruptcy Proceeding, you will be afforded “An Automatic Stay”, which stops immediately, all collection proceedings from your listed creditors.
If you have a secured debt which is attached or secured by a house (a mortgage), a vehicle (A Retail Sales Contract), a computer or some household appliances (with a lien on said items by the creditor), you will either have to pay said debt to keep the collateral or items, or you can surrender your interest in these items and discharge the debt in full in a Chapter 7 Bankruptcy Proceeding.
In a Chapter 7 Bankruptcy Case, you will be required to attend, in most cases one Court Proceeding, which is called your First Meeting of Creditors, or your 341 Hearing. At this hearing, a Chapter 7 Trustee will ask you questions, under oath, regarding all of your assets and liabilities as set forth in your Chapter 7 Bankruptcy Petition and Schedules.
Our offices pride ourselves in giving all of our clients the best services possible. We treat all of our clients with a great deal of respect and we always give our clients immediate feedback and professional care. We take great satisfaction in obtaining for all of our clients the financial relief that they are seeking.
$1,200.00 – Cost for single filer or joint petition
$335.00 – Court costs for the filing of the petition
$250.00 – Cost for any amendments done after the filing of the petition with the court
$500.00 – For any attendance of legal counsel at a deposition for debtor by a creditor
$800.00 – Cost for attorney fees for senior citizens
$550.00 – Cost to reopen case to file credit management course with court
Note: Attorney fees entail the overview of the bankruptcy information booklet, reviewing all property of client, all debts, reviewing exemptions and listing all property on petition along with completing the means test and preparing and filing with the court the completed Chapter 7 petition and schedules. The attorneys fees further include the attorney sending all required documents to the Chapter 7 trustee prior to the hearing, sending the client a copy of his or her completed and filed Chapter 7 petition and schedules, as well as attending the 341 hearing with the debtor. The attorney will further attend and adjourn with the court any hearings if requested by the client. The attorney will also file with the court both certificates of consultation by an accredited credit counseling agency as required by the bankruptcy court.