How Much Does It Cost to File Bankruptcy?

Affordable, Powerful Financial Protection

To file bankruptcy, there are attorney fees, court filing fees, and sometimes fees to handle things like credit reports and a mandatory credit counseling course required by the bankruptcy court. Your attorney seeks to create a custom plan for your budget, realizing that people who are considering bankruptcy typically are not loaded up with cash — otherwise they obviously might not be calling us! Regardless, it’s important to be sure you you understand that your attorney’s first priority revolves around your financial well-being. Many folks who are considering hiring a bankruptcy lawyer in Lewisville TX have determined that the cost is likely their number one considering at the beginning, but hiring the cheapest bankruptcy attorney is not always the best way to handle your case.

You need to balance the affordability of your attorney with the service, quality, experience, and comfort level that you have with the attorney. Many people choose a low cost solution only to regret the choice later. You might see a placard on the wall somewhere later and it might strike a chord with you if you read these words: “The bitterness of a poor quality lasts far longer than the sweetness of a cheap price.” So choose wisely and balance the options for payment plans and the accessibility to the attorney and their staff into your decision.

Does The Attorney Provide Start-to-End Bankruptcy Assistance?

 

Your Attorney Represents You Start-to-finish. Your attorney will seek your best interests. This means that if you need help filing the bankruptcy, there will be help available. And once the case is filed, you will be accompanied and assisted at the 341 hearing all the way till your bankruptcy is complete and you have received your discharge.

Does Bankruptcy Hurt My Credit?

 

While it cannot be simply stated that bankruptcy helps your credit, the ironic thing that many people do not realize is that often bankruptcy does more good for your credit than nearly any other scenario. If your credit is already in the dumps, bankruptcy will clear your debts and allow your credit to improve in the absence of former debts.

Am I Barred From Having a Bank Account Following Bankruptcy?

 

NO! You Can Keep Your Current Or Get a New Account Wherever You’re Approved By the Bank. Many people think that they will not be allowed to have assets after a bankruptcy like a house or bank account. This is simply not the case. Bankruptcy is designed to help, not hurt.

May I Continue With My Car Payments in and After Bankruptcy?

 

YES! If you choose to keep your auto loan, you can continue paying or you may also be allowed to keep your car that you own outright assuming that it is exempt under the bankruptcy exemptions for your household.

May I Continue Making House Payments In And After Bankruptcy?

 

YES! You can keep your home, and if you use a chapter 13 bankruptcy, you could also catch up your mortgage payments if they have gotten behind.

Does Bankruptcy Prevent or Stop Credit Card And Other Lawsuits?

 

Bankruptcy brings with it a court order called an “automatic stay,” that stops all collection actions immediately. Phone calls become immediately prohibited. Lawsuits stop as well and are prohibited for the duration of the bankruptcy unless a lift-stay is granted.

Can Bankruptcy Halt Garnishments?

 

Yes, bankruptcy can stop some garnishments for good, and other garnishments can be put on hold until they are provided for in the chapter 13 repayment plan or until the completion of your chapter 7 or chapter 13 bankruptcy.

Will My Assets Be Seized From The Bankruptcy Court?

 

No, nearly all people who file bankruptcy face no major risk to have their assets seized and liquidated. By filing, powerful bankruptcy laws protect many if not all of your assets from being liquidated. Most assets are exempt such as transportation and housing.

Can I File Bankruptcy to Avoid a Lawsuit?

Yes, the answer to this question is pretty simple, if you have been sued and are considering hiring a bankruptcy attorney Bakersfield, you may want to look at your options. For starters, the first thing many people do when they are served with a lawsuit is to freak out. There are so many emotions involved in being sued and for the majority of people, this might be their first and only time they will ever be sued. They might be imagining being taken in hand cuffs before a judge to plead their case. But this could hardly be further from the trust.

The facts about being sued and how to deal with it

When you are sued, the action is a civil action and is brought typically by credit card companies, collection companies who buy debts which have been charged off, by auto financing companies, and by landlords who have a tenant who broke the lease. These are some of the most common plaintiffs in these types of small time creditor lawsuits, and in most cases, they are handled easily.

For starters, you may simply want to call the law firm who is suing you to find out how much they would settle for. If you d not owe much other debt, then this may be a good option. If the debt is too large or you cannot negotiate a settlement amount that you can handle, you may want to consider filing bankruptcy or hiring a credit card lawsuit attorney. There are some advantages and disadvantages to both of these defense options. When you file bankruptcy, you need to understand that it is not a minor thing to consider. But if you have a lot of debt, then bankruptcy could give you a fresh start on many or all of your other debts while also resolving this lawsuit at the same time. On the other hand, if you don’t want to file bankruptcy, you can consider hiring a lawyer for handling your defense. Many of these attorneys specialize in small time credit card lawsuits in which they assert defenses that force the plaintiff to prove that you owe the debt. If the law firm who is suing you cannot provide all the required proof, then the case could be dismissed.

Other people who are sued consider handling their case “Pro Se” which means that they go to court or respond to the lawsuit without an attorney. This option can be a little nerve racking, but if the lawsuit does not give you much to lose, then you could consider this option. If you do, you may follow in the path of many other pro se defendants and respond to the lawsuit with what is called a general denial. In this type of response, you will likely need to respond with the details of the case, a reason for denying the alleged breach and mail your response to the court and to the law firm bringing the case against you. You may want to mail it certified so that you have proof that it was received by the parties involved. By doing this general denial to the lawsuit, you could buy yourself time because the plaintiff’s attorneys then have to go hunt down all the required documents, and these documents often amount to an entire ream of paper. Hence, you could successfully get the lawsuit dropped simply by their lack of response to your response. Although this is not common for the case to be dismissed at this point, it does give you some bargaining power with the attorneys again to go back to them for a more reasonable settlement amount or better payment arrangements.

Can I Stop Foreclosure with Bankruptcy?

Yes, bankruptcy is a common way of dealing with a family or individual facing foreclosure on their home. If you have been sued by a home equity loan company or by your mortgage company, there will be different processes in each case because of the laws that apply to different types of loans. In many states, there exist procedures called nonjudicial foreclosures and judicial foreclosures. You will want to make sure that you hire a local Kansas City bankruptcy attorney to consult with you about your options to save your home.

Can I Use Bankruptcy to Catch Up My Mortgage?

The most common use of bankruptcy to stop foreclosure and thereby save your home is through the medium of a chapter 13 bankruptcy case. A chapter 13 bankruptcy is helpful in it’s ability to offer debtors a repayment plan. For most people looking to save their home from foreclosure, there has been a period of time in which they were unable to pay their mortgage payments. If this problem was a result of a temporary loss of income due to health problems, an accident, or due to job loss, then filing chapter 13 could help you catch up the mortgage arrears. Speaking to a local attorney would be the best way for your to figure out your options and how a chapter 13 would apply to your situation.