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I have been in default for quite a few years with a number of credit
cards and a college that screwed up a financial aid package that the
government said I was due based upon my scholastic achievements and
recent abysmal income. Incidentally, the credit card debt was mostly
from necessary used car repairs. I had initially attempted to make
payments on the defaulted credit cards, but a combination of rapidly
accruing high-interest charges followed by charge-offs with fees
associated with them, unemployment, underemployment, loss of housing,
costly health problems sans health insurance and necessary personal
debt incurred to address health problems, transportation problems and
housing problems has pushed to the point of bankruptcy being a likely
necessity. I cannot make very much money nowadays in spite of working
many 12 hour days. The job training for higher paying careers
requires rather sizable amounts of money. A college education
requires rather sizable amounts of money, even when it comes to a
community college/state university education in my state. I would
teach and train myself if it were not for the time requirements which
would keep me away from actually making some semblence of a living to
meet basic living expenses. I even have ideas for inventions and
small businesses which I am reasonably certain would be lucrative, if
I had the necessary time and capital to invest toward them. In all
cases, I would probably be able to acquire the income necessary to pay
off my debts. But in my current situation, I am just going to
continue in a financial rut until I get my debt, or at least a large
portion of it, out from around my neck.
I would just like some answers so as to be able to plan. How could I
go about finding out how much a basic Chapter 7 usually costs in my
state (Florida), not counting attorney's fee? What would be a fair
attorney's fee if there is nothing really out of the ordinary or
extremely complex about my particular bankruptcy case? How long
should I expect the total discharge to take once I have officially
filed? And lastly, I have heard that all creditors involved in
charge-offs, rather than merely the original debtee or the current
collection agency, have to be included in a proper bankruptcy filing.
This doesn't make sense to me, so I would just like to make sure it is
true as I will have to do much more research on my own in that case.
Answers to these questions or any other helpful related insights would
be greatly appreciated.
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In article <bdold01jsucmgcl8l9b8fgc9l6jgk0jek5@4ax.com>, Chuck Brown
<dryroasted_peanut@yahoo.com> wrote:
I would just like some answers so as to be able to plan. How could I
go about finding out how much a basic Chapter 7 usually costs in my
state (Florida), not counting attorney's fee?
Go to a local attorney who does bankruptcies, and ask. It doesn't
cost a dime to find out.
What would be a fair
attorney's fee if there is nothing really out of the ordinary or
extremely complex about my particular bankruptcy case?
That varies from place to place. You have to check locally.
How long
should I expect the total discharge to take once I have officially
filed?
About 6 months for the process to become final, then 7 to 10
years to get your credit rating back. The bankruptcy stays on
your record forever.
And lastly, I have heard that all creditors involved in
charge-offs, rather than merely the original debtee or the current
collection agency, have to be included in a proper bankruptcy filing.
This doesn't make sense to me, so I would just like to make sure it is
true as I will have to do much more research on my own in that case.
Yes--everyone that you owe money to. It is not fair for one creditor
to be left holding the bag while others get paid, so everyone has
to take a fair hit in this deal.
-john-
--
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John A. Weeks III 952-432-2708 john@johnweeks.com
Newave Communications http://www.johnweeks.com
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I would just like some answers so as to be able to plan. How could I
go about finding out how much a basic Chapter 7 usually costs in my
state (Florida), not counting attorney's fee? What would be a fair
attorney's fee if there is nothing really out of the ordinary or
extremely complex about my particular bankruptcy case? How long
should I expect the total discharge to take once I have officially
filed? And lastly, I have heard that all creditors involved in
charge-offs, rather than merely the original debtee or the current
collection agency, have to be included in a proper bankruptcy filing.
The best way to find out what a bankruptcy would cost is to telephone
to a few lawyers in your area, specializing in bankruptcy. Because a
specialist bankruptcy lawyer will have special software and all the
relevant databases for that subject, s/he will generally be cheaper
than a lawyer who does "everything". You don't say where you are;
generally the best way to find a lawyer is to ask friends and
acquaintances. Or you can stop by the bankruptcy court in your
District and strike up a conversation with one or two. That's a good
idea anyway, since you can get an idea of how the procedure works. It
will then be less intimidating for you. Attend the 341 "meeting of
creditors" and see how they are conducted, and what questions are
asked. The clerk of the court can't give advice but will probably have
a hand-out.
You could do the work yourself "pro se", but it is generally unwise
because (1) Florida has complex rules on exemptions (homestead and
annuities -- the latter are now exempt only after 4 years), (2) if you
leave off any asset whatsoever you can be penalized and if you forget
any creditors that can cause you grief later, (3) the rules on taxes
and student loans are particularly onerous.
Addresses of the courts are:
http://www.bankruptcyinformation.com/FL_courts.htm
If you're in the Middle District, Tampa Division, you might get Judge
Paskay (if he's not retired yet). He is delightful to listen to in
court, and very wise. He's written a treatise on Florida bankruptcy
law (not for you, for lawyers; for you there is the Nolo Press book,
at your library or from nolo.com )
Fees are at:
http://www.flmb.uscourts.gov/Fee_Schedule.htm
A Chapter 7 is $209. Your lawyer may charge anything up to, say,
$1,000. Don't pick one just on price. And don't use a "bankruptcy
mill" where you hardly get to speak to a real lawyer.
The discharge is automatic if everything is normal. A couple of months
should do it.
To repeat: you must schedule everybody whom you owe, or who might
claim you owe, money. Start collecting information now. Get a copy of
your credit report. Save addresses. Look through your cancelled
checks. Don't leave anybody out. Not even friends, relatives you owe
money to or debts you don't agree you owe. If there are any assets,
and you don't list a creditor, then that creditor's claim might not be
discharged.
Good luck.
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