11 Mar Bankruptcy Basics and Marken Law Group, PS
Marken Law Group, PS, not only helps claimants with Social Security Disability and Personal Injury problems, we also guide people through the bankruptcy process for a low fee of $575.00 (not including filing fee) for Chapter 7 and $2250.00 for Chapter 13. We help many who have no other option! If you find a lower fee from a lawyer, let me know, I will match the offer! We will be the lowest and represent your bankruptcy will all professionalism and ease to make the process a smooth transition. Here are some bankruptcy basics for Chapter 7 to get your prepared. (Chapter 13 is a more intricate chapter of the bankruptcy code, if you fail the means test, consult with an attorney immediately).
First, call a lawyer, or meet, to see if your debts can even be discharged (student loans typically cannot along with child support/alimony obligations). Even if the debts CAN be discharged, do you pass the means test, financially, to file for Chapter 7 bankruptcy protection. The lawyer, when you meet and pay the fee, will usually give you a “homework” assignment. The assignment will be specific documents they need to start your petition and bankruptcy documents. These documents will be two years taxes, two months bank statements, pay stubs, etc., based upon what is needed.
If you get all the financial documents to your attorney they should have all your documents ready in a maximum of one week. If they take longer, you have hired the wrong attorney as they have let your bankruptcy protection linger. My team, once we have all the documents needed, file that SAME DAY!
Once all your documents are filed, your 341 creditors conference will be held 25 days later, depending on the trustee’s and your local jurisdiction’s scheduling. It will be approximately one month after filing. If you hire a paralegal to prepare your documents, they will NOT be able to attend the 341 conference with you. Don’t go cheap unless it is with Marken Law Group, PS!
The 341 creditors conference is NOTHING to worry about as 99% of creditors do NOT show. National tire retailers might show to reclaim their tires, among other small instances of creditors showing up to the 341 conference.
Following the 341 conference, assuming your documents are prepared CORRECTLY, your debts under Chapter 7 will be discharged!
Anything with respect to businesses, saving homes for foreclosure, or you failed the means test to filed Chapter 7, you will likely have to file for the more detailed Chapter 13 bankruptcy protection. Chapter 13 is more expensive because the documents needed are substantially more in detail, volume, the protections are greater and the representation lasts far longer than a Chapter 7 which can be discharged in 6 months or less.
Marken Law Group, PS not ONLY helps Social Security Disability claimants, personal injury victims, we also have 25 years bankruptcy experience. Call today for a free consultation!