We are bankruptcy attorneys located in Eastgate, Ohio. We specialize in chapter 7 bankruptcy and chapter 13 bankruptcy.
WHAT IS BANKRUPTCY?
Bankruptcy is a legal status of a person who cannot pay their debts owed to creditors. Bankruptcy is not only the legal status that an insolvent person or other entity may have, and the term bankruptcy is not a synonym for insolvency. Bankruptcy in the United States is a matter placed under federal jurisdiction by the United States Constitution, which allows congress to enact “uniform laws on the subject of bankruptcies throughout the United States.” The Congress has enacted statutes governing bankruptcy, primarily in the form of the Bankruptcy Code, located at Title 11 of the United States Code. Federal law is amplified by state law in some places where federal law fails to speak or expressly defers to state law.
Generally, a debtor declares bankruptcy to obtain relief from debt, and this is accomplished either through a discharge of the debt or through a restructuring of the debt. Generally when a debtor files a voluntary petition, their bankruptcy case commences.
THE PROCESS OF BANKRUPTCY
The first step for filing for bankruptcy protection is calling in and setting up your free consultation. At this free consultation you will be able to sit down with an experienced bankruptcy attorney and discuss your individual situation. The attorney will then be able to advise you on the best plan to get your finances back on the right track. This may be a bankruptcy filing but it may not be in your best interest to file at this time. Either way when you leave our office you will have an idea of what road you are going to take.
If it is in your best interest to file for bankruptcy and you decide this is what you want to do you will then need to put down a retainer towards your fees. Your fees will be quoted to you during your free consultation.
You can pay your retainer fee, which is a very fair retainer fee and then we will accept monthly payments until you pay your fees in full. Once you retain this office you will quit paying on any debts that you do not wish to keep and then refer your creditors to our office and let them know that you are in the process of filing for bankruptcy protection.
We will then gather your information and accept your monthly payments. Once your fees are paid in full your case will be ready to file.
AFTER FILING FOR BANKRUPTCY
Once your case is filed all of your creditors will be notified by the Bankruptcy Court of your bankruptcy filing. You will then be under the protection of the bankruptcy stay, this will stop all forms of collections. It is against federal law for creditors to harass you while under the bankruptcy stay.
You will have a court date, which is referred to as a 341 Meeting of Creditors. At this time your creditors will have a chance to object to your discharge if they wish. You will receive your discharge around 90 days from your filing.
For more information check out our website at Keegan
Call our Eastgate, Ohio bankruptcy attorney today for your free consultation.