Chapter 7 Bankruptcy
If you are overwhelmed with debt, Federal law provides you with a legal remedy to eliminate most, if not all of your unsecured debt and give you a fresh start to rebuilding your credit and finances. Filing for Chapter 7 bankruptcy may be a good option for you if you can no longer afford to pay your credit card bills or other unsecured debt, and your income is no longer enough to support your living expenses (assuming they are reasonably living expenses you’re incurring!).
Bankruptcy is an effective way to eliminate debt, reduce your financial burden and in most cases, significantly improve your FICO score. Yes, this may sound very counter-intuitive but it is true for the vast majority of our clients. While this should be considered a last resort, the current economic climate is not allowing for many people to become current on their debt payments and families are suffering as a result. Fortunately, bankruptcy does not carry with it the societal taboo that it once did, and every day we see individuals and families positively affected by being able to relieve major debt from their lives and carry on with a fresh start.
The process, from start to finish takes between four to six months. Once you have supplied us with all necessary paperwork, and your petition is filed, your first mandatory hearing will be held within approximately one month. After that first hearing, if there is no further information required from the trustee, aside from a short financial management course you must take, your job is to wait for your paperwork to work its way through the system and your bankruptcy should be over (ie. You will receive what is referred to as your ‘bankruptcy discharge’), in several months.
At Syndicate Legal, we will be by your side along the way. We pride ourselves on the fact that the attorney is available to answer your questions, the attorney is the one who prepares your bankruptcy paperwork, files your case and the same attorney will accompany you to your hearing. You will never be alone in this process, nor will you ever have any law clerks, paralegals, or individuals posing at paralegals between you and the attorney.
All Inclusive Flat Fees Mean No Surprises or “Nickle and Diming”
While other firms may charge you for photocopies, phone calls, and even changes to your bankruptcy petition, our low, flat-fee includes the following:
3) Getting creditors to stop calling you
4) Preparation and filing of your bankruptcy
5) Attending your mandatory hearing
6) Filing of mandatory financial management course
Our Fair Fees
Attorney fees vary depending on a number of factors including whether you are filing alone or are filing jointly with a spouse. Additional complexities may increase the cost. Examples of complexities to a bankruptcy include, amount of debt, total number of creditors, whether the Debtor owns or owned real estate, businesses, the nature of the Debtor’s assets, and whether there is an emergency filing required.
The attorney fee does not include the Court Filing Fee. In a Chapter 7 case, the Court Filing Fee is $335 and is due upon filing of the petition with the court. This is the fee that is paid to the Federal government and the court system uses this to pay the trustee, administration and most everything else needed to process your paperwork.
Please note, our fees do not include reaffirmation agreements, or any work otherwise considered out of the ordinary of a typical Chapter 7 case. Call us today for your free consultation so you can get on your path to financial recovery immediately. 818-293-5291