Bankruptcy Court Process
We can represent you in bankruptcy court. We will do everything we can to protect your interests and future. The process of going to court can be both intimidating and confusing for anyone who is not an attorney. This makes it easy to make a mistake. However, when you have an attorney in your corner, you can be confident that your interests are top of mind at all times. We provide peace of mind to our clients and make it possible to move forward with the bankruptcy, knowing that you will be protected against things like the forceful sale of your home.
A Few Things You Should Know About Bankruptcy Court
Before starting the process, there are some things you should be aware of:
#1 – You will need to complete credit counseling.
In 2005, the Bankruptcy Act was passed. The act requires anyone filing for bankruptcy to complete credit counseling within six months before filing. We can provide you with information regarding how to do so. We can also tell you what service providers are available for the counseling itself. Additionally, you will need to complete an instructional course on financial management after filing for bankruptcy.
#2 – The Means Test requirement
If you are filing a Chapter 7 bankruptcy, you will need to pass a means test, which demonstrates that you financially need to file for a liquidation bankruptcy. We can go over your finances and let you know whether or not it appears that you will qualify. When calculating your income, we will use the last six months of your earnings. Therefore, if you are in a bad position due to a recent job loss, you may want to wait to file officially until that six-month time frame is up, so none of your pre-job loss wages are included in those calculations. In the situation like this, we can get everything ready to go and file it as soon as that time frame has passed.
#3 – If you don’t pass a means test, you can still file.
If you do not qualify for a Chapter 7 bankruptcy, you can still qualify for a Chapter 13. This is a bankruptcy that reorganizes your debts to put them into a payment plan that is affordable for you. Typically, your lenders will get far less than what they would if you were to pay them outright, but they all still get something. This allows you to live up to some of your obligations but do so in a way that allows you to continue paying for your necessary living expenses.
Get Help Going to Bankruptcy Court
If you are in a financial situation where you are unable to pay your bills and are worried that you may no longer be able to stay in your home, that the repossession of your vehicle is possible, or are simply tired of getting debt collector calls, we encourage you to call our law firm and schedule a consultation. We can go over your options with you in greater detail. Our attorneys will also discuss the process of going to bankruptcy court and what you can expect when working with the bankruptcy trustee. We are here to make the process as easy as possible for you.
NOTE: This is for informational purposes only and does not constitute legal advice.