Common Questions That We Receive:
What is the difference between chapter 7 bankruptcy and chapter 13 bankruptcy?
In a nutshell, chapter 13 is a payment plan bankruptcy where you typically pay off a small portion of your debt over either three or five years with the remaining debt (with some exceptions) wiped out at the end of the three or five year payment plan. Whereas chapter 7 bankruptcy wipes out all of your debt, with some exceptions, without any payment plan requirement, the process taking approximately three to four months from the date your case is filed, assuming no complications arise. There are income limitations for chapter 7 filers (unless the debt is primarily non-consumer debt) and you may lose assets in chapter 7, although this happens very infrequently. No assets can be taken in chapter 13 bankruptcy.
Am I protected from my creditors once I file bankruptcy?
An order called the “Automatic Stay” is issued as soon as your bankruptcy case is filed, protecting you from most creditor actions including contacting you to attempt to collect the debt. However, there are some exceptions which we are happy to discuss during your consultation.
How much does it cost to file bankruptcy?
The court filing fee is currently $338 for chapter 7 and $313 for chapter 13. Check the bankruptcy court’s website for up-to-date filing fee information and filing fee waiver information. We are happy to provide you with a quote for our services at the conclusion of your consultation, assuming we have sufficient information to assess your potential matter. Our previous clients report that they found our fees very reasonable and that we provided good value for their money. (See our reviews). We offer flexible payment plans for our clients. Beware of “teaser” rates or “bait and switch” fee quotes you may find on-line! You won’t find those with us!