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What is bankruptcy? |
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Bankruptcy is a federally created way for people in need to eliminate their debts. |
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What is Chapter 7? |
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Chapter 7 is a typical bankruptcy that wipes the slate clean. Chapter 7 eliminates most types of debt to give you a fresh start. |
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What types of debt does Chapter 7 eliminate? |
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Chapter 7 eliminates credit card bills, medical bills, judgments, lawsuits, broken leases, repossessed car debts and even payday loans. |
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What types of debt are not eliminated in a Chapter 7? |
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Generally, government debts such as parking tickets and student loans are not eliminated in a Chapter 7. Court ordered debts such as child support and alimony are typically not eliminated either. |
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Can I file a Chapter 7? |
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So long as you do not have any significant assets, such as a lot of equity in a house or a car, you should be able to file a Chapter 7. Generally, if you are having a hard time making ends meet, you qualify for a Chapter 7. |
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How much does it cost to file a Chapter 7? |
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It depends on the complexity of your case and how much time I need to adequately represent you, however, Chapter 7's usually start at $800.00 plus court costs. I normally take a $100.00 retainer fee and tailor a no interest payment plan for the remainder of my fees. |
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Can I keep my house and car if I file a Chapter 7? |
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YES, so long as you do not have significant equity in either the home or the car. |
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Can I get credit after filing a Chapter 7? |
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YES, in fact you will receive credit card solicitations immediately following the bankruptcy process. Moreover, you can purchase a new home or a car as soon as you get your discharge from the bankruptcy (discharge usually occurs 4 months after filing). |
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What amount of debt is needed to file a Chapter 7 bankruptcy? |
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If you cannot foresee any way to pay off your debts in a reasonable amount of time, you should file a Chapter 7 bankruptcy. The amount is not necessarily relevant, what matters is your ability to pay the debts back. |
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Can I file another Chapter 7 if I have already filed one before? |
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You must wait eight years before filing another Chapter 7. However, Chapter 13 bankruptcy may be an option for you. |
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What is Chapter 13? |
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Chapter 13 is a repayment plan that pays back a portion of your debt based on your income. You must have steady income to file a Chapter 13. |
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Why would someone file a Chapter 13 instead of a Chapter 7? |
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Chapter 13 is necessary to stop the foreclosure process on your home or the repossession process on your car. In addition, if you earn too much money, you must file a Chapter 13. |
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What forms of payment does Select Legal, PC accept for services? |
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We gladly accept all major credit and debit cards as well as checks, cash and money orders. We cannot, however, accept a credit card for payment which you are claiming in your bankruptcy. |
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How can I get in contact with an attorney who can help me? |
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Contact me, Bankruptcy Attorney Dean Paolucci, through email or by telephone for a free, personal consultation.
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