FAQ addressing some of the most common questions people ask us at Podis & Podis.
We hope this information will be helpful to you as you become more informed about the bankruptcy process.
Bankruptcy is a legal way to stop collection actions. There are several types of bankruptcy including repayment plans (Chapter 13) and liquidation of debt (Chapter 7). Bankruptcy stops creditors from pursuing your non-exempt income and/or assets.
You call us for a free appointment. We walk you through the process and complete all necessary paperwork and file it with the court. We assist you in obtaining your pre-bankruptcy certificate. We forward all documents to the Bankruptcy Trustee and Court. We prepare you for your court date. We attend all hearings with you. We forward your filing fee to the clerk after you have paid it. We help you complete your financial management certificate and file it with the court.
Do not wait until the last minute! You do not have to be behind in your bills before you file bankruptcy. It is okay to come in for a free consultation to get an estimate on when you may want to file. For instance, if you know you are going to receive a layoff notice in the next month or two, come in and find out your options to protect your assets under a Chapter 7 or Chapter 13 Bankruptcy.
The Discharge Order is the Court Order that shows your debts have been discharged or wiped out.
Just call our office at 615-399-3800, and we will be happy to set an appointment for you. We are open Monday through Friday 8 a.m. to 5 p.m. with the last appointment of the day beginning at 4 p.m.
You do not have to have a lawyer to file bankruptcy, but it can help. The Bankruptcy Code is very specific about what you must do to get a Discharge. A bankruptcy lawyer can give you good advice about the disclosures required in bankruptcy to avoid big mistakes that can cost you your discharge or worse.
Most Debt Consolidation plans pay themselves first, then the creditors once they have collected enough money to pay one of your creditors. They do not stop a creditor from contacting you or suing you for the money owed to them. Most of the time clients come to my office after paying $2,000 to $3,000 into a debt consolidation plan and then have been sued –- their creditors have received nothing because the consolidation plan has been paying themselves! Bankruptcy is usually cheaper and faster than a debt consolidation plan. Attorney fees range from $800 in a Chapter 7 to up to $3500 in a Chapter 13* with secured creditors. *Note: Chapter 13 attorney fees are subject to court approval.)
Please call our office to schedule an appointment to discuss the attorney fee and costs involved in filing a bankruptcy. There are two costs that are set by the court: if you are filing a Chapter 7 the Court filing fee is $335* and the Chapter 13 Court filing fee is $281*. We give our client’s the cost information at the free appointment in writing as required in the Bankruptcy Code. *Note: These numbers do not include the attorney fee or the other costs involved in filing.
You must list all of your debts — houses, cars, lawsuits, check cashing, payday loans, credit cards, and individuals you owe money. Some debts are not discharged, or wiped out in a bankruptcy, such as student loans, tax debt, child support / alimony or debts where drugs or alcohol were involved. Chapter 13 can help you repay these debts to stop collection efforts. Chapter 7 can help you wipe out other debts to repay these non-dischargeable debts.
Often a Chapter 13 bankruptcy can stop foreclosure proceedings or just help you get caught up on the payments you have missed. We offer a free appointment to discuss Chapter 13 and Chapter 7 options with you.