Does any one know the in's and out's of claiming Chapter 7? I know the irony in this...but how much does it cost? Do you have to go through a lawyer or is there another way?
2006-07-03 12:50:37 · 6 answers · asked by ? 6 in Business & Finance ➔ Credit
You do NOT need a lawyer....Call the Trustee's office in your area, find out the median income for your state.....If your income is below that figure, you can file Chap7....If not, go into a Chap13...
Next, you must complete a financial education class PRIOR to filing any bankruptcy. Get a list of approved classes from the Trustee.....TAKE the class now to get it out of the way - even if you choose not to file after all.
You can file PRO SE - get all the documents from the court or Office Depot - the documents are standard, it's the exemptions that may vary - very easy to research....The documents may be intimidating, but they are very straightforward.....
Get all three of your credit reports and list all your creditors/collection agencies.....match up the collection agency w/ the original creditor. If you have some that are not listed - list them.......
If you borrowed $100 from Aunt Edna and will not pay her back, list her as a creditor....If you don't list it - it won't get discharged....(discharge is good/dismiss is bad).
Go to Office Depot TODAY and get the paperwork - or you can buy them online.....
You'll have to pay for the credit class (not more than $40 & the filing fee of about $160 (depends on your state)...and you can certainly apply to the Court for a waiver of the fee.
2006-07-03 19:36:55 · answer #1 · answered by Paula M 5 · 0⤊ 0⤋
Usually it's best to go thru a lawyer since there's a ream of documents and papers to file. A lawyer will run about $1500 plus or minus. However, go to the link in the box below and it'll take you to a page on the www.auntienolo.com website offering a book for sale outlining the steps necessary to file chapter 7. If you do it yourself, it is my understanding that court costs will come to about $250 a far cry from lawyer's fees. The auntie nolo website has excellent resources for various legal issues. I have used the site numerous times.
2006-07-03 13:04:23 · answer #2 · answered by John B 2 · 0⤊ 0⤋
I've unfortunately done it twice. Yes get a lawyer. It will be $500-700. Now isn't that ironic?! And be sure you put in everything and double check it with the attorney and all of the papers. Mine left some out and they were not included. Just keep an eye out--sometimes they don't do a great job on this. And don't get all insulted in court. The judges can be real bears--obnoxious even. They will treat you like a criminal--like you don't feel bad enough about all of it to begin with, right?! Good luck and keep your chin up.
2006-07-03 12:59:50 · answer #3 · answered by Waferette 3 · 0⤊ 0⤋
The best way is to go to a lawyer because now there is so much you have to do like go to fiance counseling and going though your debt and also you must only have 100.00 or less at the end of each month.Also you go to debt counseling before and after you file. Hope this help a little.
2006-07-03 12:57:32 · answer #4 · answered by Anonymous · 0⤊ 0⤋
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2016-11-05 21:38:08 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Chapter 7 used to be easy. now there are new laws. I could contact an attormey these days. There are now certain rules to filing.
2006-07-03 12:54:35 · answer #6 · answered by blueeyz 2 · 0⤊ 0⤋