Q: Do I have to take a credit counseling class?
A: Yes, under the Bankruptcy laws every debtor must take two (2) credit counseling classes. You do not have to worry about finding an approved agency, as we will recommend one to you. Without the certificate(s), we will be unable to file your bankruptcy. Each debtor must take a class before the filing and one after the filing. These classes run between $40.00 - $60.00 (for both classes), depending on marital status. They can be completed online or over the phone.
Q: Will my creditors leave me alone?
A: By law, once a bankruptcy case is filed, creditors must stop all communication. However, once you retain this office as your representative, we ask that you direct all calls from your creditors to us. This will stop the harassing calls before we get you filed. However, creditors can still serve you court papers, as well as contact you by mail.
Q: Will my spouse be affected?
A: If you are not filing jointly and you have NO joint debt together, your spouse will not be affected by your filing. If you have joint debt, then your spouse becomes liable for the full amount of the debt.
Q: How long does a bankruptcy stay on my credit report?
A: A bankruptcy stays on your credit report for ten (10) years.
Q: Isn't using a credit counseling company better for my credit score?
A: No, credit counseling companies actually cost MORE money than an attorney, and there are several companies that are being investigated by the IRS for abuse.
Q: Do you have to have a certain amount of debt in order to file?
A: No. However, not all situations call for filing bankruptcy. This is something that we will discuss during your consultation.
Q: What is a Trustee and what does he do?
A: The Trustee is the person who oversees your bankruptcy. His or her job is to: Administer the bankruptcy, represent creditors, conduct the first meeting of creditors (also called the "section 341 meeting"), collect and sell non-exempt property (in a Chapter 7 case) or collect and pay out money on a repayment plan (in a Chapter 13 case). The Trustee can request additional information from you and documents related to your bankruptcy.
If you have any other questions, would like to set up a time to discuss filing a bankruptcy, or for any other legal reason, please contact me.
