Individual Bankruptcy A Client's Guide to the Language and Procedure

Size: px
Start display at page:

Download "Individual Bankruptcy A Client's Guide to the Language and Procedure"

Transcription

1 Individual Bankruptcy A Client's Guide to the Language and Procedure BAKKE NORMAN L A W O F F I C E S

2 Welcome Thank you for considering Bakke Norman, S.C. to represent your interests. This booklet will give you a basic overview of bankruptcy in Wisconsin and has been written to give you general information about how we handle cases like yours. We hope it will be helpful to you. Your satisfaction is very important to us and forms the basis for our formal quality pledge: To provide the highest quality legal service to the clients we serve, To develop and maintain the highest personal and professional standards and reputation, and To provide a quality professional work opportunity for attorneys and staff. We welcome your feedback at all times. BAKKE NORMAN LAW OFFICES Bakke Norman represents clients who file for relief under the Bankruptcy Code. Under federal law, Bakke Norman is a debtrelief agency.

3 Bankruptcy Attorneys: Who are they? What do they do? How much will they charge? At Bakke Norman, S.C., we have attorneys experienced in handling bankruptcy matters. We employ skilled legal assistants and paralegals to help you and your attorney with your file and to assure you of the best professional representation. You are encouraged to contact the legal assistant or paralegal regarding any questions about your case if the attorney is not available. A legal assistant or paralegal is not an attorney and is not permitted to give legal advice. However, there are many questions that the legal assistant or paralegal can answer regarding your case. Questions calling for legal advice will be referred to your attorney by the legal assistant or paralegal. What Do Bankruptcy Attorneys Do? Bankruptcy laws, like most other laws, are complex and detailed. Your attorney will advise you about the law and help prepare the documents necessary for your case. We will keep you informed about the status of your bankruptcy case and give you our advice regarding any options you have. Through careful planning concerning the content of your bankruptcy schedules and the timing of the actual filing, bankruptcy attorneys seek to maximize the benefits of a bankruptcy filing for their clients. This booklet is designed to provide a very broad, general orientation to the subject of bankruptcy and is not intended to substitute for professional legal advice. Our bankruptcy clients' financial affairs deserve careful analysis and professional attention more attention than can be provided in this short booklet. What Will It Cost? We are committed to providing our clients with a clear understanding of their potential legal fees before beginning representation. Bakke Norman, S.C. generally handles Chapter 7 and Chapter 13 cases on a flat fee basis. Chapter 7 fees are required to be paid in full prior to filing and Chapter 13 fees may be paid as part of the Chapter 13 plan. The cost to file for bankruptcy can vary considerably depending on your circumstances, and fees are subject to change to get a fee estimate, please call Bakke Norman. Before beginning work on your file, we will enter into a fee agreement which will include specific information regarding the amount of our fees and scope of our services. In addition, there is a filing fee which must be paid to the Court at the time of filing. Clients are also required to complete sessions for credit counseling and personal financial management. These fees are in addition to the legal fees charged by Bakke Norman, S.C. Telephone Calls and s We welcome your telephone calls and messages with questions about your case or with new information that we need. When your attorney is in court or meeting with another client, your call may be referred to the legal assistant or paralegal assisting on your file. We will make every effort to respond to your inquiries promptly.

4 What Is Bankruptcy? Bankruptcy is a legal process that protects debtors from legal collection action by creditors. Bankruptcy can prevent or stop garnishments, attachments and foreclosures. This protection is available to individuals, sole proprietorships, partnerships and corporations. You may be eligible for bankruptcy if you have debts that exceed the value of your assets and if, for other reasons, you cannot pay all of your bills as they come due. Bankruptcy laws were passed to provide a fresh start to those who have tried and been unable to pay their debts. The bankruptcy process can release an individual from debts incurred in a business venture as well as consumer debts. However, the bankruptcy code also contains provisions which are designed to prevent abuse by individuals who recklessly incur consumer debt. Bankruptcy protection is provided by federal law, not state law. Therefore, all bankruptcy proceedings are conducted at a federal courthouse and not at a local county courthouse. For residents of west central Wisconsin, almost all proceedings are held at the federal courthouse in Eau Claire. Although protection from creditors is available under the bankruptcy process, one of the most important things we can do for a client is to consider alternate solutions before recommending bankruptcy. Alternate options may include the refinancing of some debts, a negotiated debt reduction or a restructured payment plan. Creditors are frequently willing to accept a reasonable payment plan that avoids the expense and inconvenience of a formal bankruptcy filing. There are several different sections of the bankruptcy code which apply to different types of debtors: Chapter 7 is used by individuals and businesses to liquidate their remaining assets, discharge their debt and obtain a fresh start. Chapter 11 is used by businesses and individuals engaged in business to reorganize their operations and restructure their debts. Chapter 12 is used by family farmers to reorganize their farm operation and restructure their debt. Chapter 13 is used by individuals to reorganize their finances and pay off a portion of their debts pursuant to a three or five-year repayment plan. Liquidation Under Chapter 7 Chapter 7 is frequently referred to as liquidation or straight bankruptcy and is available to individuals, corporations or partnerships. The goal of a Chapter 7 filing is to obtain total and permanent relief from as much debt as possible the dischargeable debts. After a successful Chapter 7 proceeding, the debtor will no longer have any legal obligation to make payment to most creditors. Although there is no personal obligation to repay secured debts, a creditor holding security for its debt may foreclose on the debt and obtain possession of the collateral even if that debt has been discharged by the Bankruptcy Court. For instance, a bank with a mortgage on a house may foreclose its mortgage and obtain possession of the house if the mortgage note is not paid. It is therefore common to continue to pay, or "reaffirm," certain secured debts even after filing bankruptcy. In exchange for a discharge of debts, the bankruptcy debtor must turn over all nonexempt property to the bankruptcy trustee. Exempt property may be retained by the debtor. The law provides an extensive list of exempt property that a debtor may keep. Exemptions are discussed in more detail later in this booklet.

5 Under the bankruptcy law some debts are not discharged. Non-dischargeable debts include most child support, spousal maintenance (alimony), most student loans, most taxes, certain fines or penalties payable to a governmental unit, and debts resulting from injuries to another person due to driving while intoxicated. In addition, debts incurred by fraud or as a result of willful or malicious injury to another or another's property are generally nondischargeable. These are only examples; there are other categories of non-dischargeable debt which are applicable in special circumstances. Wage Earner Plan Under Chapter 13 Individuals may also choose to file pursuant to Chapter 13 of the Bankruptcy Code. This chapter is not available to corporations or partnerships. Unlike a Chapter 7 bankruptcy, a person filing under Chapter 13 is required to pay adjusted debts according to a plan of repayment that is approved by the Court. Chapter 13 offers legal protection from collection actions and is normally used to cure defaults on home mortgages and car loans. Chapter 13 debtors contribute all of their disposable income to the bankruptcy trustee for a three or five-year period in repayment of their secured and unsecured debts. Upon successful completion of the Chapter 13 plan, the balances remaining on most of the debts are discharged. An advantage of a Chapter 13 bankruptcy is that certain debts which are non-dischargeable in a Chapter 7 (such as debts based on fraud and debts arising from a divorce that are not for maintenance or support), are dischargeable in a Chapter 13. Financial Disclosures When we prepare a petition asking the court to grant bankruptcy protection for our client, we must also file specific schedules giving detailed information about our client s current financial status and financial history. This required information can be lumped into the following four broad categories. Debts We must provide a list of the names and addresses of all creditors, the amount owed, the reason for the debt and a description of any mortgage or security held by the creditor. Assets We must provide a description and a stated value of all real estate, vehicles, bank accounts, retirement accounts, accounts receivable, tax refunds, personal property and any other property owned by the bankrupt. A debtor s claims against another are also considered an asset and must be disclosed. Statement of Affairs We must give detailed information about any voluntary payment of money or transfers of property made within the last twelve months, as well as information about any involuntary payments or transfers made as a result of a creditor s legal action. We must also provide information about the existence and location of the bankrupt s financial books and records. Income and Expenses We must give the Court details of all debtor income, including income tax returns, and a detailed list of monthly living expenses. If the debtor owns a business, we must also report the business' income and expenses. Accuracy, completeness and total honesty is required in all dealings with the Court. All written and oral information must be given under oath. Any failure to give complete and accurate information is subject to the

6 perjury laws and can also result in the loss of some or all of the valuable protections under the Bankruptcy Code. The Bankruptcy Code provides many advantageous rights to debtors; however, it also imposes many responsibilities upon them. Debtors seeking to benefit from the protections offered by the bankruptcy process must, in turn, strictly comply with the disclosure requirements and other responsibilities imposed by that process. All assets and all debts must be listed on the schedules and disclosed to the Court. Bankruptcy fraud is a federal crime with very serious consequences. Exemptions Exemptions are a vital part of ensuring that one of the fundamental purposes of the Bankruptcy Code providing the debtor a fresh start is fulfilled. A fresh start would be impossible if the bankruptcy process stripped debtors of all of their property. Some states, including Wisconsin, have laws which protect certain debtor property from being taken by creditors to satisfy a debt. Federal law also provides specific exemptions for use by individuals filing bankruptcy. Wisconsin residents may select either the federal or the state exemptions, but not both. We assist our clients in making this selection by analyzing their property and comparing the advantages and disadvantages of both options. Under Wisconsin laws, property that may be exempt includes up to $75,000 of equity in a homestead ($150,000 for a married couple's homestead); retirement funds; some equity in a vehicle; household furniture and appliances; some livestock and farm machinery; and tools of the debtor's trade. This is only a partial list of exemptions. Your attorney will discuss all the options available. If property is exempt, it does not have to be turned over to the bankruptcy trustee. However, if the exempt property is subject to a mortgage or a security interest, the creditor holding the security may be able to foreclose and take the property even if the debt is discharged. One way to prevent such a foreclosure is to reaffirm and pay the debt. The decision to reaffirm a debt should not be made lightly; it should only be made after careful consideration and consultation with your attorney. Automatic Stay At the time a bankruptcy case is filed, an automatic stay is established. This prevents any creditor from pursuing most collection actions against a debtor without first obtaining the permission of the Bankruptcy Court. The automatic stay prohibits creditors from continuing lawsuits, garnishments or foreclosures, or from sending collection letters or making telephone calls to the debtor. Under Chapter 13, the stay also applies to cosigners or guarantors of debts which the debtor is obligated to pay. Discharge and Reaffirmation The bankruptcy law regarding the scope of the discharge is complex. As a general rule, however, individuals are discharged in more than 99 percent of Chapter 7 cases (excluding cases which are dismissed or converted). In most cases, a discharge will be granted under Chapter 7 relatively early in the case, that is, 60 to 90 days after the date of the first meeting of creditors, unless a complaint has been filed objecting to the discharge or the debtor has reaffirmed a particular debt. Grounds for denying the debtor a discharge include failure of the debtor to keep or produce adequate books or financial records; failure to satisfactorily explain any loss of assets; commission by the debtor of a bankruptcy crime (such as perjury); failure to obey a lawful order of the bankruptcy court; or fraudulent transfer, concealment or destruction of property which would have become property of the debtor s bankruptcy estate. Because secured creditors retain some rights which may permit them to seize the secured property even after a discharge is granted, a debtor wishing to keep possession of the secured property, such as an automobile or home,

7 may find it advantageous to reaffirm the debt rather than surrender the property. A reaffirmation is an agreement between the debtor and the creditor that the debtor will pay all or a portion of the money owed, even though the debtor has filed bankruptcy. In return, the creditor promises that as long as payments are made, the creditor will not repossess or take back the property. If it is necessary to reaffirm a debt, your attorney must be involved to ensure that your rights are protected and that the reaffirmation is in your best interest. Generally, the purpose of filing the bankruptcy is to discharge debt obligations. Consequently, the right to reaffirm a debt should be used sparingly and only when necessary. Credit Rating Clients are normally concerned about the effect of a bankruptcy on their credit rating. Whenever a debtor's financial picture has deteriorated to the point that bankruptcy is an option, it is likely that his or her credit rating has already suffered. A bankruptcy can be part of the debtor's credit history for up to ten years. Some banks and other lenders will deny credit on this basis, some will not. There are laws that protect the misuse of this information; and, it cannot be used to deny employment or terminate current employment. Frequently, the real issue should not be the effect on the credit rating, because the debtor s credit rating is usually very poor anyway. Rather, the real issue is whether it is realistic to improve the debtor s financial condition and credit rating through conservative spending habits and careful saving or through bankruptcy's fresh start. Either way, improved credit will take time and financial discipline. Bankruptcy Terms and Definitions Adversary Proceeding A lawsuit in the U.S. Bankruptcy Court that is related to a bankruptcy case. Adversary proceedings are typically filed by creditors seeking to have their debt declared non-dischargeable by the Bankruptcy Court. Automatic Stay An injunction, or court order, that takes effect when a bankruptcy petition is filed. An automatic stay prohibits all collection action against a debtor. It affects a broad range of activities against the debtor, property of the debtor and property of the bankruptcy estate. The automatic stay ceases when a debtor is discharged or a bankruptcy case is closed. Bankruptcy Code The body of a federal statutory law that governs the bankruptcy process. Bankruptcy Petition The legal document filed with the bankruptcy court that commences a bankruptcy proceeding. Confirmation The process by which the bankruptcy court approves the terms of a Chapter 11, 12 or 13 plan of repayment. Confirmation of a plan implements the terms of the plan. Conversion The changing of a bankruptcy case from one chapter type to another. Credit Counseling Course A single session course that must be completed within 180 days prior to filing the bankruptcy petition. The course can only be offered by organizations approved by the office of the United States Trustee. Creditor A person or entity who is owed money by the debtor. Debtor One who files the bankruptcy petition. In bankruptcy, the bankrupt individual and/or business that is under the protection of the bankruptcy court.

8 Discharge A discharge in bankruptcy relieves the debtor of the dischargeable debts incurred prior to filing. Discharge is the legal term for the elimination of debt through bankruptcy. Certain debts of an individual, such as child support, are normally non-dischargeable. Dismissal The premature termination of a bankruptcy case. The dismissal of a bankruptcy case in effect returns the debtor to the same position the debtor was in before the bankruptcy was filed. Dividend The distribution to creditors of the bankruptcy estate s assets made according to the schedule set forth in the Bankruptcy Code. No dividend in any amount less than $5 should be distributed by the trustee to any creditor unless authorized by order of the court. Exemption or Exempt Property Property of an individual debtor that the law protects from the actions of creditors, such as the debtor s residence or homestead, automobile, tools of the trade, etc. Involuntary Bankruptcy Petition The filing of a bankruptcy petition by a group of creditors against an individual (or business entity) who is indebted to them. The debtor is thereby involuntarily forced into bankruptcy. Judgment The official decision of the court regarding the rights and claims of the parties to a lawsuit. Lien A creditor's interest in property securing the repayment of a debt. Motion A request for the court to take a specified action. A motion may be filed in an adversary proceeding or bankruptcy case. Notice Information given in written form advising certain parties of some fact which they are entitled to know. The court or moving party sends notice to advise parties of a scheduled hearing, a sale to take place, etc. Parties in Interest The individuals or entities which have an interest in a particular bankruptcy case. These include, among others, the interim trustee, U.S. Trustee, debtor, debtor s attorney, creditors and moving parties. Personal Financial Management Course A single session course that must be completed within 60 days after the first meeting of creditors. The course can only be offered by organizations approved by the office of the United States Trustee. Plan of Reorganization The document filed by the debtor in a Chapter 11, 12 or 13 bankruptcy case. The plan contains the terms by which the debtor proposes to pay his/her outstanding debts. The terms of the plan are negotiated with the debtor's creditors; the plan itself is subject to court confirmation. Once confirmed, the plan constitutes a new contract between the debtor and the debtor's creditors. Property of the Estate All property of the debtor of whatever kind or nature. First Meeting of Creditors (Section 341 Meeting) Sometimes called the "341 Hearing," the first meeting of the debtor's creditors is conducted by the trustee assigned to the debtor s bankruptcy case. The debtor submits to questioning (usually very brief) by the trustee or the debtor's creditors concerning income and other assets, location and condition of collateral, recent transfers of assets, and intentions as to certain debts. The debtor is required to attend this meeting. Trustee An officer of the court appointed to take custody of the assets of a bankruptcy estate. The trustee oversees the liquidation or distribution of assets to unsecured creditors.

9 Notes Copyright ~ Bakke Norman, S.C. R2011

10 BAKKE NORMAN Local Lawyers ~ Statewide Reputation Business Planning & Development Business Succession Estate Planning/Probate/Trust Administration Tax Planning Debtor/Creditor Relations Employment Law Real Estate (Commercial & Residential) Municipal Law Business Litigation Divorce & Family Relations Criminal/Operating While Intoxicated (O.W.I.) Personal Injury Mediation/Arbitration (Alternative Dispute Resolution) 990 Main Street P.O. Box 54 Baldwin, WI Phone: (715) Fax: (815) Schneider Avenue P.O. Box 280 Menomonie, WI Phone: (715) Fax: (815) Heritage Drive P.O. Box 308 New Richmond, WI Phone: (715) Fax: (815)

Frequently Asked Questions. for. Chapter 7 Debtors

Frequently Asked Questions. for. Chapter 7 Debtors Frequently Asked Questions for Chapter 7 Debtors The information contained in this document is provided as a service to our clients, and does not constitute legal advice. We try to provide quality information,

More information

LAUREN ROSS Attorney at Law 2550 N. Hollywood Way Suite 404 Burbank, CA 91505-5046 Tel.(818) 847-0211 Facsimile (818) 847-0214

LAUREN ROSS Attorney at Law 2550 N. Hollywood Way Suite 404 Burbank, CA 91505-5046 Tel.(818) 847-0211 Facsimile (818) 847-0214 LAUREN ROSS Attorney at Law 2550 N. Hollywood Way Suite 404 Burbank, CA 91505-5046 Tel.(818) 847-0211 Facsimile (818) 847-0214 INITIAL CONSULTATION AGREEMENT AND REQUIRED NOTICES Please Note: These documents

More information

Chapter 12 is a reorganization for family farmers and fishing families, which is similar to Chapter 13.

Chapter 12 is a reorganization for family farmers and fishing families, which is similar to Chapter 13. GENERAL INFORMATION ABOUT THE BANKRUPTCY SYSTEM INCLUDING THE RIGHTS AND DUTIES OF CHAPTER 13 DEBTORS (and other information necessary to assist a debtor in completion of the chapter 13 plan) WHAT IS BANKRUPTCY?

More information

Chapter 7 Liquidation Under the Bankruptcy Code

Chapter 7 Liquidation Under the Bankruptcy Code From Administrative Office of the United States Courts, Bankruptcy Basics, Public Information Series. Chapter 7 Liquidation Under the Bankruptcy Code The chapter of the Bankruptcy Code providing for "liquidation,"

More information

NOTICE NO. 1 Notice Mandated by Section 342(b)(1) and 527(a)(1) Of The Bankruptcy Code:

NOTICE NO. 1 Notice Mandated by Section 342(b)(1) and 527(a)(1) Of The Bankruptcy Code: Mandatory Bankruptcy Disclosures The following mandatory disclosures are required under Section 527 and 342 of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005. NOTICE NO. 1

More information

BANKRUPTCY TERMINOLOGY

BANKRUPTCY TERMINOLOGY ADVERSARY PROCEEDING BANKRUPTCY TERMINOLOGY A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the bankruptcy court. ASSUME An agreement to continue performing

More information

NOTICE NO. 1. Notice Mandated By Section 342(b)(1) and 527(a)(1) of the Bankruptcy Code PURPOSES, BENEFITS AND COSTS OF BANKRUPTCY

NOTICE NO. 1. Notice Mandated By Section 342(b)(1) and 527(a)(1) of the Bankruptcy Code PURPOSES, BENEFITS AND COSTS OF BANKRUPTCY NOTICE NO. 1 Notice Mandated By Section 342(b)(1) and 527(a)(1) of the Bankruptcy Code PURPOSES, BENEFITS AND COSTS OF BANKRUPTCY The United States Constitution provides a method whereby individuals, burdened

More information

SAMPLE BANKRUPTCY DISCHARGE FORM Page 1 of 2

SAMPLE BANKRUPTCY DISCHARGE FORM Page 1 of 2 One Division Avenue Room 200 Grand Rapids, MI 49503-3132 Phone : (616) 456-2693 http://www.miwb.uscourts.gov/ WHAT IS CHAPTER 7 BANKRUPTCY? Chapter 7 bankruptcy, sometimes call a straight bankruptcy is

More information

Chapter 13: Repayment of All or Part of the Debts of an Individual with Regular Income ($235 filing fee, $39 administrative fee: Total fee $274)

Chapter 13: Repayment of All or Part of the Debts of an Individual with Regular Income ($235 filing fee, $39 administrative fee: Total fee $274) B 201A (Form 201A) (12/09) WARNING: Effective December 1, 2009, the 15-day deadline to file schedules and certain other documents under Bankruptcy Rule 1007(c) is shortened to 14 days. For further information,

More information

CHARLES (CHUCK) JOHNSON ATTORNEY AT LAW

CHARLES (CHUCK) JOHNSON ATTORNEY AT LAW CHARLES (CHUCK) JOHNSON ATTORNEY AT LAW CHERI KNIGHT SHELLY MUSTAIN 985 KK DRIVE, SUITE 104 PO BOX 1030, OSAGE BEACH, MO 65065 PHONE: 573-348-0503 TOLL FREE: 866-342-6063 FAX: 573-348-0537 E-MAIL: office@charlesjohnsonlaw.com

More information

MANDATORY BANKRUPTCY DISCLOSURE

MANDATORY BANKRUPTCY DISCLOSURE 2418 Main St. Vancouver, WA 98660 www.mcaleerlaw.net Telephone: (360) 334-6277 Facsimile: (360) 356-1920 MANDATORY BANKRUPTCY DISCLOSURE IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM

More information

DISCHARGE. The Discharge in Bankruptcy. From an individual. debtor s standpoint, one. of the primary goals of. filing a bankruptcy case

DISCHARGE. The Discharge in Bankruptcy. From an individual. debtor s standpoint, one. of the primary goals of. filing a bankruptcy case The Discharge in Bankruptcy DISCHARGE The bankruptcy discharge varies depending on the type of case a debtor files: chapter 7, 11, 12, or 13. This Public Information Series pamphlet attempts to answer

More information

Filing Bankruptcy: General Information. Debts

Filing Bankruptcy: General Information. Debts Filing Bankruptcy: General Information The Big Picture The Big Picture when it comes to Bankruptcy is this: the person or entity that owes money and needs relief from creditors (the debtor ) is making

More information

Your Guide to Bankruptcy for Individuals

Your Guide to Bankruptcy for Individuals Consumer Legal Guide Your Guide to Bankruptcy for Individuals ILLINOIS STATE BAR ASSOCIATION ASK A LAWYER WHAT IS BANKRUPTCY? Bankruptcy is a court proceeding that is governed by the federal law known

More information

adversary proceeding - A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the court.

adversary proceeding - A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the court. Terminology adversary proceeding - A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the court. assume - An agreement to continue performing duties under

More information

IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY OR BANKRUPTCY PETITION PREPARER.

IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY OR BANKRUPTCY PETITION PREPARER. IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY OR BANKRUPTCY PETITION PREPARER. If you decide to seek bankruptcy relief, you can represent yourself, you can hire an attorney

More information

Presented by Gina Silvestri, Esq.

Presented by Gina Silvestri, Esq. Why file for a Bankruptcy? Loss of job? Medical bills? Foreclosure? Divorce? Just a run of bad luck? A fundamental goal of the federal bankruptcy laws is to give debtors a financial fresh start from burdensome

More information

DEBT RELIEF AGENCY CONTRACT

DEBT RELIEF AGENCY CONTRACT DEBT RELIEF AGENCY CONTRACT Federal law requires that we enter into this Debt Relief Agency Contract within three business days after the first date on which we provide any bankruptcy assistance services.

More information

Bankruptcy 101 A Guide to Personal Bankruptcy. Brought to you by Jon Martin, Esq. Http://www.TheSinCityLawyer.com

Bankruptcy 101 A Guide to Personal Bankruptcy. Brought to you by Jon Martin, Esq. Http://www.TheSinCityLawyer.com Bankruptcy 101 A Guide to Personal Bankruptcy Brought to you by Jon Martin, Esq. Http://www.TheSinCityLawyer.com Bankruptcy laws help people who can no longer pay their creditors get a fresh start by liquidating

More information

BANKRUPTCY F.A.Q. S WHAT IS CHAPTER 7?

BANKRUPTCY F.A.Q. S WHAT IS CHAPTER 7? BANKRUPTCY F.A.Q. S While the information presented below is accurate as of the date of publication, it should not be cited or relied upon as legal authority. It should not be used as a substitute for

More information

Bankruptcy Law Firm Ursula Jones, Attorney

Bankruptcy Law Firm Ursula Jones, Attorney ATTORNEY-CLIENT BANKRUPTCY RETAINER AGREEMENT The Client(s) hereby enter into this Attorney-Client Retainer Agreement with Ursula Jones ( Attorney ). 1. TOTAL FEES AND COSTS (a) Fixed Fee: A fixed fee

More information

UNITED STATES BANKRUPTCY COURT DISTRICT OF MINNESOTA. NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE

UNITED STATES BANKRUPTCY COURT DISTRICT OF MINNESOTA. NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE B 201 (12/08) UNITED STATES BANKRUPTCY COURT DISTRICT OF MINNESOTA NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code, this notice to individuals

More information

Bankruptcy. Individuals and businesses use bankruptcy as a way to obtain relief from debts owed to creditors.

Bankruptcy. Individuals and businesses use bankruptcy as a way to obtain relief from debts owed to creditors. Bankruptcy Document last updated 2/2/2012. Individuals and businesses use bankruptcy as a way to obtain relief from debts owed to creditors. The United States Constitution authorizes Congress to pass uniform

More information

BANKRUPTCY INFORMATION SHEET

BANKRUPTCY INFORMATION SHEET BANKRUPTCY INFORMATION SHEET BANKRUPTCY LAW IS A FEDERAL LAW. THIS SHEET GIVES YOU SOME GENERAL INFORMATION ABOUT WHAT HAPPENS IN A BANKRUPTCY CASE. THE INFORMATIONHERE IS NOT COMPLETE. YOU MAY NEED LEGAL

More information

LIENS. Lien: An encumbrance on property to secure a debt or to protect a claim for payment of a debt.

LIENS. Lien: An encumbrance on property to secure a debt or to protect a claim for payment of a debt. LIENS Lien: An encumbrance on property to secure a debt or to protect a claim for payment of a debt. Mechanic s Lien: A lien on real property to ensure payment for work performed and materials furnished

More information

2. The Four Chapters of the Bankruptcy Code Available to Individual Consumer Debtors

2. The Four Chapters of the Bankruptcy Code Available to Individual Consumer Debtors UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code, this notice to individuals

More information

NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE

NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code, this notice to individuals with primarily consumer debts: (1) Describes briefly the services

More information

BANKRUPTCY WHAT IS BANKRUPTCY?

BANKRUPTCY WHAT IS BANKRUPTCY? BANKRUPTCY Most military personnel and their families handle their financial affairs in a responsible and timely manner. Those who have problems usually seek timely assistance from financial counselors.

More information

Covering Iowa Law and Courts: A Guide for Journalists

Covering Iowa Law and Courts: A Guide for Journalists CHAPTER 11: The focus of this book is on Iowa laws and courts; thus, as noted earlier, the federal court system is generally beyond the scope of these materials. However, many who used early editions of

More information

CONSULTATION AGREEEMENT and ACKNOWLEDGEMENT OF RECEIPT OF DICLOSURES AND INSTRUCTIONS

CONSULTATION AGREEEMENT and ACKNOWLEDGEMENT OF RECEIPT OF DICLOSURES AND INSTRUCTIONS CONSULTATION AGREEEMENT and ACKNOWLEDGEMENT OF RECEIPT OF DICLOSURES AND INSTRUCTIONS This agreement is entered on this day between the undersigned (hereinafter referred to as "Client") and ADRIAN M. LAPAS,

More information

Williams Bankruptcy A Debt Relief Agency helping people eliminate debt and obtain relief under Chapter 7 of the Bankruptcy Code

Williams Bankruptcy A Debt Relief Agency helping people eliminate debt and obtain relief under Chapter 7 of the Bankruptcy Code A Publication of the Law Office of Richard L. Williams Williams Bankruptcy A Debt Relief Agency helping people eliminate debt and obtain relief under Chapter 7 of the Bankruptcy Code Tips for Questionnaire

More information

ADJUSTMENT OF DEBTS UNDER CHAPTER 13 QUESTIONS AND ANSWERS ABOUT CHAPTER 13 CASES

ADJUSTMENT OF DEBTS UNDER CHAPTER 13 QUESTIONS AND ANSWERS ABOUT CHAPTER 13 CASES ADJUSTMENT OF DEBTS UNDER CHAPTER 13 QUESTIONS AND ANSWERS ABOUT CHAPTER 13 CASES 1. What is a chapter 13 bankruptcy case and how does it work? A chapter 13 bankruptcy case is a proceeding under federal

More information

UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF MICHIGAN. NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE

UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF MICHIGAN. NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE B 201A (Form 201A) (11/11) UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF MICHIGAN NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code,

More information

QUESTIONS CONCERNING BANKRUPTCY

QUESTIONS CONCERNING BANKRUPTCY QUESTIONS CONCERNING BANKRUPTCY The Law Office of Paul D. Post, P.A. is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The assistance provided to clients may

More information

There are two options under the bankruptcy laws: a liquidation or a repayment plan.

There are two options under the bankruptcy laws: a liquidation or a repayment plan. When You Can't Pay Your Debts INTRODUCTION Financial difficulties can arise for many reasons, such as loss of a job, death of a breadwinner or too many credit card purchases. Money problems can be emotionally

More information

Bankruptcy Q&A. When filing a bankruptcy there are several different chapters under which you can file:

Bankruptcy Q&A. When filing a bankruptcy there are several different chapters under which you can file: Bankruptcy Q&A Chapter 7: What types of bankruptcy are available? When filing a bankruptcy there are several different chapters under which you can file: This is the most basic bankruptcy and is available

More information

Bankruptcy BASICS. Leonidas Ralph Mecham, Director. Administrative Office of the United States Courts

Bankruptcy BASICS. Leonidas Ralph Mecham, Director. Administrative Office of the United States Courts Bankruptcy BASICS Leonidas Ralph Mecham, Director Administrative Office of the United States Courts Bankruptcy BASICS A Public Information Series of the Bankruptcy Judges Division THE PAMPHLET The Bankruptcy

More information

IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY 1

IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY 1 IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY 1 If you decide to seek bankruptcy relief, you can represent yourself, you can hire an attorney to represent you, or you can

More information

A GUIDE TO FILING FOR BANKRUPTCY PROTECTION UNDER CHAPTER 7 OF THE BANKRUPTCY CODE

A GUIDE TO FILING FOR BANKRUPTCY PROTECTION UNDER CHAPTER 7 OF THE BANKRUPTCY CODE A GUIDE TO FILING FOR BANKRUPTCY PROTECTION UNDER CHAPTER 7 OF THE BANKRUPTCY CODE Michael R. Totaro Totaro & Shanahan P.O. Box 789 Pacific Palisades, CA 90272 310 573 0276 (v) 310 496 1260 (f) Mtotaro@aol.com

More information

QUESTIONS AND ANSWERS ABOUT CHAPTER 13 BANKRUPTCIES 1

QUESTIONS AND ANSWERS ABOUT CHAPTER 13 BANKRUPTCIES 1 QUESTIONS AND ANSWERS ABOUT CHAPTER 7 BANKRUPTCIES What is a Chapter 7 bankruptcy and how does it work? A Chapter 7 bankruptcy case is a proceeding under federal law in which the Debtor seeks relief under

More information

CLIENT RESPONSIBILITY

CLIENT RESPONSIBILITY RETAINER AGREEMENT FOR Filing a Chapter 7 Bankruptcy BETWEEN FIRM NAME: Paul E. Kauffmann, Attorney at Law ADDRESS: 233 12 th Street, Suite 725 CITY/STATE Columbus, GA 31901 TEL. NO.: 706 566 3434 AND

More information

Initial Consultation Agreement and Acknowledgment of Receipt of Disclosures

Initial Consultation Agreement and Acknowledgment of Receipt of Disclosures Initial Consultation Agreement and Acknowledgment of Receipt of Disclosures This agreement is entered into by and between the undersigned and David Gaffney, Attorney At Law, doing business as Gaffney Law

More information

Bankruptcy. published by AAA Fair Credit Foundation

Bankruptcy. published by AAA Fair Credit Foundation Bankruptcy published by AAA Fair Credit Foundation Bankruptcy 1. What is Bankruptcy?..............................................................3 2. Chapters of Bankruptcy...........................................................4

More information

Notice to Individual Consumer Debtor Under Section 342(b) and 527(a) of the Bankruptcy Code

Notice to Individual Consumer Debtor Under Section 342(b) and 527(a) of the Bankruptcy Code Notice to Individual Consumer Debtor Under Section 342(b) and 527(a) of the Bankruptcy Code In accordance with section 342(b) of the Bankruptcy Code, this notice: (1) Describes briefly the services available

More information

BANKRUPTCY SOME FREQUENTLY ASKED QUESTIONS AND ANSWERS

BANKRUPTCY SOME FREQUENTLY ASKED QUESTIONS AND ANSWERS BANKRUPTCY SOME FREQUENTLY ASKED QUESTIONS AND ANSWERS 1 You should file for bankruptcy only after carefully deciding that bankruptcy is the best way to deal with your financial problems. This pamphlet

More information

Bankruptcy BASICS (Applicable to Cases Filed BEFORE October 17, 2005)

Bankruptcy BASICS (Applicable to Cases Filed BEFORE October 17, 2005) Bankruptcy BASICS (Applicable to Cases Filed BEFORE October 17, 2005) Leonidas Ralph Mecham, Director Administrative Office of the United States Courts Bankruptcy BASICS Leonidas Ralph Mecham, Director

More information

Notice Required by 11 U.S.C. 342(b) and 527(a)

Notice Required by 11 U.S.C. 342(b) and 527(a) 1 P a g e Notice Required by 11 U.S.C. 342(b) and 527(a) In accordance with section 342(b) of the Bankruptcy Code, this notice: (1) Describes briefly the services available from credit counseling services;

More information

TWIN CITY ATTORNEYS FACTS ABOUT BANKRUPTCY CHAPTER 7 OR CHAPTER 13?

TWIN CITY ATTORNEYS FACTS ABOUT BANKRUPTCY CHAPTER 7 OR CHAPTER 13? TWIN CITY ATTORNEYS FACTS ABOUT BANKRUPTCY CHAPTER 7 OR CHAPTER 13? There are a number of Chapters in the Bankruptcy Code designed to protect different types of debtors. The overwhelming number of debtors

More information

BANKRUPTCY. Information Provided by Financial Credit Network October, 2011

BANKRUPTCY. Information Provided by Financial Credit Network October, 2011 BANKRUPTCY Information Provided by Financial Credit Network October, 2011 Disclaimer: The information provided by Financial Credit Network is not to be construed as legal advice. Although we go to great

More information

Chapter 13 Bankruptcy

Chapter 13 Bankruptcy Chapter 13 Bankruptcy Individual Debt Adjustment The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income. (Chapter 13 allows a debtor to keep property

More information

Chapter 13 - Bankruptcy Basics. Background. Advantages of Chapter 13

Chapter 13 - Bankruptcy Basics. Background. Advantages of Chapter 13 Chapter 13 - Bankruptcy Basics This chapter of the Bankruptcy Code provides for adjustment of debts of an individual with regular income. Chapter 13 allows a debtor to keep property and pay debts over

More information

INITIAL REQUIRED NOTICES FOR BANKRUPTCY CLIENTS

INITIAL REQUIRED NOTICES FOR BANKRUPTCY CLIENTS INITIAL REQUIRED NOTICES FOR BANKRUPTCY CLIENTS You are hereby requesting the opportunity to consult with and obtain information and advice from Michael Jones and the Law Office of James P. Cronn ( Law

More information

INITIAL CONSULTATION AGREEMENT AND ACKNOWLEDGMENT OF RECEIPT OF DISCLOSURES

INITIAL CONSULTATION AGREEMENT AND ACKNOWLEDGMENT OF RECEIPT OF DISCLOSURES 303 Williams Avenue, Park Plaza Suite 921 Huntsville, Alabama 35801 Phone:256.535.0817 Fax: 256.535.0818 Web: www.heardlaw.com INITIAL CONSULTATION AGREEMENT AND ACKNOWLEDGMENT OF RECEIPT OF DISCLOSURES

More information

Wisconsin Probate. A Client's Guide to the Language and Procedure of Probate inn Wisconsin BAKKE NORMAN L A W O F F I C E S

Wisconsin Probate. A Client's Guide to the Language and Procedure of Probate inn Wisconsin BAKKE NORMAN L A W O F F I C E S Wisconsin Probate A Client's Guide to the Language and Procedure of Probate inn Wisconsin BAKKE NORMAN L A W O F F I C E S Welcome Thank you for considering Bakke Norman, S.C. to represent your interests.

More information

230 West Monroe Suite 240 Chicago, IL 60606 312-372-4400

230 West Monroe Suite 240 Chicago, IL 60606 312-372-4400 230 West Monroe Suite 240 Chicago, IL 60606 312-372-4400 The Porter Law Network is owned by attorney Karen J. Porter. Ms. Porter is licensed in the State of Illinois. Ms Porter has more than 25 years of

More information

Bankruptcy Made Easy - What you need to know

Bankruptcy Made Easy - What you need to know Midwest Bankruptcy Attorneys Bankruptcy Made Easy - What you need to know Presented by: (312) 836-0455 contact@midwestbankruptcyattorneys.com Midwest Bankruptcy Attorneys LLC is a debt relief agency. We

More information

A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems.

A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. This booklet cannot explain every aspect of the bankruptcy

More information

INITIAL CONSULTATION AGREEMENT AND REQUIRED NOTICES

INITIAL CONSULTATION AGREEMENT AND REQUIRED NOTICES Law Offices James Palmisano 417 Barre Street Telephone: (800) 585-3169 Montpelier, VT 05602 Facsimile: (802) 229-2733 e-mail: info@vermontbankruptcy.net INITIAL CONSULTATION AGREEMENT AND REQUIRED NOTICES

More information

Disclosure Pursuant to 11 u.s.c. 527(a)(2)

Disclosure Pursuant to 11 u.s.c. 527(a)(2) Disclosure Pursuant to 11 u.s.c. 527(a)(2) You are notified: 1. All information that you are required to provide with a petition and thereafter during a case under the Bankruptcy Code is required to be

More information

Bankruptcy Guide for Beginners

Bankruptcy Guide for Beginners Bankruptcy Guide for Beginners Answers to 20 common bankruptcy questions We hope you find this guide useful and informative. We look forward to helping you eliminate debt and get a fresh financial start.

More information

LIQUIDATION UNDER CHAPTER 7

LIQUIDATION UNDER CHAPTER 7 LIQUIDATION UNDER CHAPTER 7 1. WHAT IS CHAPTER 7 AND HOW DOES IT WORK? Chapter 7 is that part (or chapter) of the Bankruptcy Code that deals with liquidation. The Bankruptcy Code is that part of the federal

More information

BANKRUPTCY THE BASICS

BANKRUPTCY THE BASICS Law Offices of Nakita R. Blocton A Limited Liability Company 950 22 nd Street North, Suite 715, Birmingham, Alabama 35203 - Post Office Box 2783, Birmingham, Alabama 35202 Telephone: (205) 251-8747 Fax:

More information

According to the United States Bankruptcy Code there are 6 types of bankruptcies, called chapters :

According to the United States Bankruptcy Code there are 6 types of bankruptcies, called chapters : FAQ Bankruptcy What does bankruptcy mean? Bankruptcy is a legal procedure that allows people to legally avoid their debts or reorganize their financial obligations through a payment plan. How many bankruptcy

More information

Instructions Bankruptcy Forms for Individuals

Instructions Bankruptcy Forms for Individuals Instructions Bankruptcy Forms for Individuals U.S. Bankruptcy Court December 2015 (Rev. April 2016) About this Booklet of Instructions... 1 About the bankruptcy forms and filing bankruptcy... 2 Understand

More information

Pro Se Creditor s Handbook: Information for Persons Owed Money by an Individual or Entity that has Filed for Bankruptcy.

Pro Se Creditor s Handbook: Information for Persons Owed Money by an Individual or Entity that has Filed for Bankruptcy. Pro Se Creditor s Handbook: Information for Persons Owed Money by an Individual or Entity that has Filed for Bankruptcy Introduction This booklet is provided by the Office of the Clerk, United States Bankruptcy

More information

Bankruptcy Questions. FAQ > Bankruptcy Questions WHAT IS CHAPTER 7 BANKRUPTCY?

Bankruptcy Questions. FAQ > Bankruptcy Questions WHAT IS CHAPTER 7 BANKRUPTCY? FAQ > Bankruptcy Questions Bankruptcy Questions WHAT IS CHAPTER 7 BANKRUPTCY? Chapter 7 bankruptcy is sometimes called a straight bankruptcy or a liquidation proceeding. The number one goal in an individual

More information

TAKE-1 BANKRUPTCY XVIII AIRBORNE CORPS LEGAL ASSISTANCE OFFICE

TAKE-1 BANKRUPTCY XVIII AIRBORNE CORPS LEGAL ASSISTANCE OFFICE TAKE-1 BANKRUPTCY XVIII AIRBORNE CORPS LEGAL ASSISTANCE OFFICE BANKRUPTCY 1. Q. WHAT IS THE MAIN PURPOSE OF FEDERAL BANKRUPTCY LAW? A. Bankruptcy has a wide variety of purposes, one of which is to relieve

More information

SOUTH CAROLINA BAR. Bankruptcy and the Law

SOUTH CAROLINA BAR. Bankruptcy and the Law SOUTH CAROLINA BAR Bankruptcy and the Law There are two kinds of bankruptcy that are commonly used for individuals Chapter 7 and Chapter 13. CHAPTER 7 A Chapter 7 bankruptcy is a liquidation bankruptcy,

More information

IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION

IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION DUTIES AND RESPONSIBILITIES OF A DEBTOR UNDER CHAPTER 7 AND ATTENDANCE AT THE 341 MEETING OF CREDITORS In either

More information

UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF ALABAMA SOUTHERN DIVISION

UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF ALABAMA SOUTHERN DIVISION UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF ALABAMA SOUTHERN DIVISION NOTICE TO INDIVIDUAL CONSUMER DEBTOR UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code,

More information

NYC Bankruptcy Assistance Project

NYC Bankruptcy Assistance Project NYC Bankruptcy Assistance Project A Project of Legal Services for New York City Answers to Common Bankruptcy Questions A decision to file for bankruptcy should be made only after determining that bankruptcy

More information

CONSUMER BANKRUPTCY. Q: What is bankruptcy? Q: How does someone know whether to file a Chapter 7 or 13? Q: How is an action filed in bankruptcy court?

CONSUMER BANKRUPTCY. Q: What is bankruptcy? Q: How does someone know whether to file a Chapter 7 or 13? Q: How is an action filed in bankruptcy court? CONSUMER BANKRUPTCY R. Michael Drose * Thomas M. Fryar * Ann U. Bell * Certified Bankruptcy Specialist Q: What is bankruptcy? A: Bankruptcy laws are federal laws and are the same in every state, although

More information

FREQUENTLY ASKED QUESTIONS

FREQUENTLY ASKED QUESTIONS FREQUENTLY ASKED QUESTIONS Q: What is bankruptcy? A: Bankruptcy allows individuals or businesses (debtors) who owe others (creditors) more money than they're able to pay to either work out a plan to repay

More information

CREDIT COUNSELING REQUIREMENT

CREDIT COUNSELING REQUIREMENT CREDIT COUNSELING REQUIREMENT In order to file bankruptcy, an individual must receive from an approved nonprofit budget and credit counseling agency... an individual or group briefing... that outlines

More information

Answers to Common Bankruptcy Questions 1

Answers to Common Bankruptcy Questions 1 Answers to Common Bankruptcy Questions 1 A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. This handbook can

More information

Framme Law Firm, PC. Bankruptcy Consultation Agreement

Framme Law Firm, PC. Bankruptcy Consultation Agreement Framme Law Firm, PC Bankruptcy Consultation Agreement 1. Bankruptcy Telephone Consultation Agreement (signature required) 2. Notice Pursuant to 11 USC Section 342(b) (information only) 3. Notice Pursuant

More information

Why File Bankruptcy?

Why File Bankruptcy? Why File Bankruptcy? You are trying to keep debts current, but are borrowing from one card to pay the other. You are trying to keep debts current by using your savings. You are trying to keep debts current

More information

The Process of Collection and Creditor s Rights in Bankruptcy. Jon D. Madison, Attorney at Law

The Process of Collection and Creditor s Rights in Bankruptcy. Jon D. Madison, Attorney at Law The Process of Collection and Creditor s Rights in Bankruptcy Jon D. Madison, Attorney at Law First Steps in Collection Process Demand Letter Some debtors may respond if it comes from a law firm, some

More information

WHAT BANKRUPTCY CAN T DO

WHAT BANKRUPTCY CAN T DO A decision to file for bankruptcy should only be made after determining that bankruptcy is the best way to deal with your financial problems. This brochure cannot explain every aspect of the bankruptcy

More information

Table of Contents. Mission Statement 3. Welcome Letter 3

Table of Contents. Mission Statement 3. Welcome Letter 3 Table of Contents Mission Statement 3 Welcome Letter 3 Frequently Asked Questions: Debtor Address Changes 7 Attorney Problems 7 Changing Jobs 7 Completing / Discharging a Case 11 Credit Report 12 Creditor

More information

IN THE UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF MISSOURI

IN THE UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF MISSOURI MOW 2016-1.4 (5/22/07) IN THE UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF MISSOURI IN RE: ) ) ) Case No. ) ) Debtors. ) RIGHTS AND RESPONSIBILITIES AGREEMENT BETWEEN CHAPTER 13 DEBTORS AND

More information

LIQUIDATION UNDER CHAPTER 7 QUESTIONS AND ANSWERS ABOUT CHAPTER 7 BANKRUPTCIES 1

LIQUIDATION UNDER CHAPTER 7 QUESTIONS AND ANSWERS ABOUT CHAPTER 7 BANKRUPTCIES 1 LIQUIDATION UNDER CHAPTER 7 QUESTIONS AND ANSWERS ABOUT CHAPTER 7 BANKRUPTCIES What is a Chapter 7 bankruptcy case and how does it work? A Chapter 7 bankruptcy is a proceeding under federal law in which

More information

Ron Holmes Bankruptcy Attorney Realtor and Qualifying Broker for Stetson Realty

Ron Holmes Bankruptcy Attorney Realtor and Qualifying Broker for Stetson Realty Ron Holmes Bankruptcy Attorney Realtor and Qualifying Broker for Stetson Realty University of New Mexico B.S. in Economics and Political Science double major 1991 University of New Mexico School of Law

More information

ADJUSTMENT OF DEBTS UNDER CHAPTER 13 QUESTIONS AND ANSWERS ABOUT CHAPTER 13 BANKRUPTCIES 1

ADJUSTMENT OF DEBTS UNDER CHAPTER 13 QUESTIONS AND ANSWERS ABOUT CHAPTER 13 BANKRUPTCIES 1 ADJUSTMENT OF DEBTS UNDER CHAPTER 13 QUESTIONS AND ANSWERS ABOUT CHAPTER 13 BANKRUPTCIES What is a Chapter 13 bankruptcy case and how does it work? A chapter 13 bankruptcy case is a proceeding under federal

More information

Administrative Office of the United States Courts. Bankruptcy BASICS

Administrative Office of the United States Courts. Bankruptcy BASICS Administrative Office of the United States Courts Bankruptcy BASICS Bankruptcy BASICS Bankruptcy Judges Division Administrative Office of the United States Courts November 2011 Revised Third Edition While

More information

Bankruptcy Issues in Foreclosure Actions. Andrew J. Zeigler

Bankruptcy Issues in Foreclosure Actions. Andrew J. Zeigler Bankruptcy Issues in Foreclosure Actions Andrew J. Zeigler Bankruptcy Automatic Stay 11 U.S.C. 362 Once a bankruptcy petition is filed all collection activities must stop immediately. Applies to all creditors

More information

Bankruptcy - An Overview

Bankruptcy - An Overview Bankruptcy - An Overview Goals of the Bankruptcy System A fundamental goal of the federal bankruptcy laws enacted by Congress is to give debtors a financial " fresh start" from burdensome debts. The Supreme

More information

UNITED STATES BANKRUPTCY COURT DISTRICT OF MINNESOTA NOTICE OF RESPONSIBILITIES OF CHAPTER 7 DEBTORS AND THEIR ATTORNEYS

UNITED STATES BANKRUPTCY COURT DISTRICT OF MINNESOTA NOTICE OF RESPONSIBILITIES OF CHAPTER 7 DEBTORS AND THEIR ATTORNEYS UNITED STATES BANKRUPTCY COURT DISTRICT OF MINNESOTA In re: Case No. Debtors. NOTICE OF RESPONSIBILITIES OF CHAPTER 7 DEBTORS AND THEIR ATTORNEYS This Notice lists certain responsibilities of debtors and

More information

K.2 Answers to Common Bankruptcy Questions

K.2 Answers to Common Bankruptcy Questions Adapted from Consumer Bankruptcy Law and Practice, 10 th Edition, National Consumer Law Center, copyright 2012. Used by permission. K.2 Answers to Common Bankruptcy Questions A decision to file for bankruptcy

More information

UNITED STATES BANKRUPTCY COURT. District of Arizona

UNITED STATES BANKRUPTCY COURT. District of Arizona UNITED STATES BANKRUPTCY COURT District of Arizona Choosing Your Chapter or What can bankruptcy do for you? What will it do to you? June 2014 IMPORTANT WARNINGS Neither the Bankruptcy Court nor the Clerk

More information

Understanding Bankruptcy

Understanding Bankruptcy Understanding Bankruptcy What is Bankruptcy? Bankruptcy is a legal process where an individual or organizational debtor is able to seek some financial relief. A fundamental goal of the federal bankruptcy

More information

Bankruptcy may make it possible for you to:

Bankruptcy may make it possible for you to: A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. This brochure cannot explain every aspect of the bankruptcy

More information

Lindy Madill, Esq. CHAPTER 7 BANKRUPTCY RETAINER AGREEMENT

Lindy Madill, Esq. CHAPTER 7 BANKRUPTCY RETAINER AGREEMENT Lindy Madill, Esq. CHAPTER 7 BANKRUPTCY RETAINER AGREEMENT The undersigned client ( Client ) hereby employs Lindy Madill, Esq. ( Attorney ) whose principal office is located at 4530 Lamplighter Lane, Manlius,

More information

Bankruptcy. 1. What is bankruptcy?

Bankruptcy. 1. What is bankruptcy? Helping Older Persons With Legal & Long-Term Care Problems Bankruptcy 1. What is bankruptcy? Bankrupt means filing a petition in federal bankruptcy court asking for protection from those to whom you owe

More information

CHRISTMAN & FASCETTA, LLC FLAT FEE AGREEMENT AND HOURLY FEE PROVISIONS

CHRISTMAN & FASCETTA, LLC FLAT FEE AGREEMENT AND HOURLY FEE PROVISIONS CHRISTMAN & FASCETTA, LLC FLAT FEE AGREEMENT AND HOURLY FEE PROVISIONS, (hereinafter referred to as client or you ), hereby engages the Law Offices of Christman & Fascetta, LLC to prepare and file a Chapter

More information

The Goodman Law Firm, P.A. 1 Dana Street, 4th Floor P.O. Box 7523 Portland, ME 04101

The Goodman Law Firm, P.A. 1 Dana Street, 4th Floor P.O. Box 7523 Portland, ME 04101 The Goodman Law Firm, P.A. 1 Dana Street, 4th Floor P.O. Box 7523 Portland, ME 04101 Fax: (207) 772-2778 www.goodmanlawfirm.com Tel: (207) 775-4335 joseph@goodmanlawfirm.com What Is Bankruptcy? ANSWERS

More information

MOUNTAIN POST LEGAL BRIEF. A Preventive Law Service of The Office of the Staff Judge Advocate. Headquarters, Fort Carson

MOUNTAIN POST LEGAL BRIEF. A Preventive Law Service of The Office of the Staff Judge Advocate. Headquarters, Fort Carson REVISED APRIL 2010 MOUNTAIN POST LEGAL BRIEF A Preventive Law Service of The Office of the Staff Judge Advocate Headquarters, Fort Carson Keeping You Informed On Personal Legal Affairs BANKRUPTCY MATTERS

More information

Thomas M. Gore McCorkle & Johnson, LLP Savannah, Georgia 912-232-6000. Table of Contents. I. Overview of Creditor s Rights...1

Thomas M. Gore McCorkle & Johnson, LLP Savannah, Georgia 912-232-6000. Table of Contents. I. Overview of Creditor s Rights...1 PROTECTING CREDITORS IN BANKRUPTCY Thomas M. Gore McCorkle & Johnson, LLP Savannah, Georgia 912-232-6000 Table of Contents I. Overview of Creditor s Rights...1 A. Overview of Chapters 7, 11, and 13...1

More information

WHAT YOU SHOULD KNOW ABOUT YOUR CHAPTER 13

WHAT YOU SHOULD KNOW ABOUT YOUR CHAPTER 13 WHAT YOU SHOULD KNOW ABOUT YOUR CHAPTER 13 (Revised January, 2002) This booklet was prepared to help you understand how your Chapter 13 case works and answer most questions that arise during your Chapter

More information

Michigan Association of County Treasurers 2013 Summer Conference Crystal Mountain August 11-14, 2013 BANKRUPTCY

Michigan Association of County Treasurers 2013 Summer Conference Crystal Mountain August 11-14, 2013 BANKRUPTCY Michigan Association of County Treasurers 2013 Summer Conference Crystal Mountain August 11-14, 2013 BANKRUPTCY Monday, August 12, 2013 9:30 a.m. 10:30 a.m. Presented by: John R. Axe of Axe & Ecklund,

More information