Answer. If you are eligible to file for bankruptcy relief, and enter into a retainer agreement with our firm, you will then be able to notify your creditors that you have retained us as your bankruptcy counsel, and provide them with our telephone number. In most instances, your creditors will then call our office to confirm that you have retained our firm, and stay in touch with us until your case is filed. A small deposit is all that is needed to initially retain our firm. If a creditor continues to call you after being notified that you are filing for bankruptcy, the creditor is in violation of the Fair Debt Collection Practices Act (15 U.S.C. Section 1692 et seq.).
Answer. After your bankruptcy case has been filed, you can stop making your credit card and other loan payments, except for mortgage and auto loan payments for homes and cars you want to keep, and non-dischargeable student loan or domestic support payments. You should also stop any post-dated checks or automatic payment plans you may have previously set up.
Answer. Once you decide to file for bankruptcy, you can immediately discontinue any existing debt consolidation program. If you have set up an automatic payment plan under the debt consolidation program, you need to immediately discontinue the payment arrangement. You also need to stop payment on any checks you have issued. If need be, you may need to close your bank account.
Answer. After your bankruptcy case has been filed, you can use your existing bank accounts or open a new bank account without any fear.
Answer. A bankruptcy filing will remain on your credit report for 7-10 years. However, soon after you file, you will begin getting credit card offers. It will also not be long before you will be able to qualify for an auto loan or mortgage loan at a reasonable rate of interest.
Answer. If there is an emergency, such as an imminent foreclosure sale, or a garnishment or bank levy, your case can be filed in one day!
After a Chapter 7 case has been filed, the case usually lasts 4-5 months. During this period, you will be able to use your existing bank accounts, open new accounts, and start getting your life back on track. A Chapter 13 case lasts until all plan payments have been made. It can take up to 5 years until all plan payments have been made.
At the conclusion of a Chapter 7 case, the bankruptcy court issues a Discharge Order to a debtor, who has completed a Financial Management Course. A Discharge Order confirms the cancellation of a debtor’s dischargeable obligations.
At the conclusion of a Chapter 13 case, a Discharge Order will be issued to a Debtor, who has completed his plan payments and a Financial Management course.
Answer. For individuals, we usually require a retainer deposit of at least $250. The balance of the fees and costs depends upon whether you are filing a Chapter 7 or Chapter 13 case. It also depends upon whether you own a home that you wish to keep, the extent of your debts, and your monthly income in relation to the median income for your family. Once the fee is agreed upon, we will then set up a payment plan that works for you.
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Law Offices of Barton P. Levine - New York Office
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New York, NY 10016
Law Offices of Barton P. Levine - Long Island Office
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Garden City, NY 11530