Trending Bankruptcy Filing Fees

Feb 11th, 2014 | By | Category: Debt

No one has been immune to the economic upheaval of the past two years. If you’re one of the persons who’ve seen the hardest, filing for bankruptcy is a viable alternative available to you. There are two kinds of bankruptcy that you can file for; Chapter 7 and Chapter 13. Each type has its pros and cons.

To be able to understand what of bankruptcy you should file for you need to obtain the services of a bankruptcy attorney Florida. As an individual, and not a company, the law allows you to file for bankruptcy without the help of an attorney. However, this route isn’t recommended by the federal US government.

Detroit owes nearly $14 million to lawyers and consultants for work during the first three months of its bankruptcy proceedings. A new report shows that the city has incurred fees of $13.3 million from the time of its July 18 bankruptcy filing through the end of September. It will also have to pay out an additional $400,000 more in expenses for the firms. And those bills don’t even include the most labor-intensive part of the bankruptcy case. That came in late …

When you file for bankruptcy you cannot do it alone. Bankruptcy attorneys spend years studying and training in this sector so it is highly unlikely that you’ll be able to perform a better job than them. This area of the act is very complicated and there are a number of processes involved. You have to get a trained and experienced professional who has your best interests at heart to be able to successfully file for bankruptcy. If you try to do it alone, you could do it incorrectly and this could result in your bankruptcy leaving you worse than you were before you filed. For example, if you fail to present an important document when you file you run the risk of losing your rights as a debtor or you could lose the right to present again in future, or lose certain protections in future case. The risk is too great.

The process of filing for bankruptcy is different in each US state, and even different in each country. For example, in the United States there are federal rules and norms that govern bankruptcy. Also there are state and court specific rules that govern bankruptcy. The court that you end up filing in will have different rules from the court in the following town. It is impossible for you to be able to learn every single rule and regulation by yourself in time. To avoid the risk of your case being removed by the judge, you are required to make sure that each step in your filing is done correctly and honestly. Bankruptcy fraud is a criminal offence so it is punishable with a prison sentence. Even if you do file correctly, your lack of awareness and experience could mean that you do certain things incorrectly which could look like you’re trying to mislead or lie to the courts.

The data on court approved forms is filed with the United States Bankruptcy Court, with a filing fee of $299. The court may possibly approve a lifting of the fee in case you can not pay. Alternatively you’re able to pay in 3 installments over 84 day period after filing.

Bankruptcy is a life changing decision that will impact you legally and financially in the long run. You first have to make sure that it’s the only viable option left for you. You also have to find out what sort of bankruptcy to file. If you decide to file for bankruptcy you have to send all the necessary paperwork completed and submitted. These are only a few steps of the process. You need a bankruptcy attorney to guide and assist you through each and each step of the way in order to succeed in this endeavor. You may worry about the attorney fees for a bankruptcy attorney. Most attorneys are open to negotiating their fees with their clients so this shouldn’t be a role in your choice of hiring a bankruptcy attorney Florida.

FAQ’s: bankruptcy?
how to file bankruptcy

  • The law firm I work for used to do bankruptcies. 1. Call an attorney– find out who handles them in your area and find one that will do it for a reasonable fee (If you get one for less than $1000, you are getting a bargain). Make an appointment. 2. The attorney will probably send you a packet of papers to fill out, listing your personal info and creditors. Fill them out as best you can. Be sure and include account numbers and correct addresses. Make sure the addresses are for the customer service department, NOT the payment addresses. Be as accurate and thorough as possible in providing this info to the attorney, as it will be INVALUABLE to them in filing your bankruptcy petition. 3. Keep your scheduled appointment. Depending on how thoroughly you fill out your paperwork, combined with how busy the lawyer is, they should schedule you to come back in to sign the petition in 2 weeks to a month after the initial appointment. 4. You will get a hearing notice in the mail from the Bankruptcy Court, which will tell you when you have to appear for your bankruptcy hearing. Arrive promptly and dress cleanly but do not wear a lot of jewelry or look like you have a lot of money to spend on clothes. 5. Be aware that BR laws have changed, and that unless your income falls into a certain category, you will not be able to completely get rid of your debts– there is a possibility that you will have to pay a portion of the debts back if your income is over the guidelines. However, DO NOT lie, because this is the government we are talking about, and they have ways to find out things. 6. You will have the opportunity to sign Reaffirmation Agreements for certain secured debts, such as cars and homes. These are optional, and only need to be signed if you wish to keep paying for and keep the property. Credit cards will hardly ever let you keep them, as they are considered unsecured debts. If you sign a Reaff, be sure you keep up your end of the agreement, because they will come and take your stuff if you don't. 7. You will receive a Discharge of Debtor notice around 3 months after your hearing. One month later, you will get your Final Decree. 8. A bankruptcy stays on your credit record for 10 years from the date you file. You can file again in 7 years from the date you file. 9. Keep all of your paperwork that your attorney sends you, so you don't have to bother him/her for it years from now when they have to dig it out of the dead files! Hope this helps!

  • There are different chapters of bankruptcy and it will help you if you understand which will apply to you (chapter 7 or chapter13). But before you take any action please explore any possible alternatives to bankruptcy because this is a difficult process and you should only go that route if there are absolutely no alternatives. And, as previously stated, consult a qualifed bankruptcy attorney sooner rather than later. An initial consultation is usually free and the attorney can tell you what you need to do, and will also look after any creditors who are harrassing you. Check out this website which has a lot of useful information and links etc. I hope this helps. Good luck!

  • the first dude got it locked down

  • if i learned anything from answers on bankruptcy — the first thing you do is contact a lawyer!!!

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