A petition to file for bankruptcy is done in a federal court. There is some input allowed by state law, however. Examples include details about exemptions and property rights. A Jacksonville FL Bankruptcy Attorney will explain all these details to you when you become a client.
An attorney may allow his fee to be paid in installments. However, there are predetermined bankruptcy fees. In most cases, these must be paid at the time of filing the paperwork. People falling below a certain level of income might be allowed to pay these fees in installments too.
These laws are complicated and it is wise to have a lawyer represent you. It is, however, possible to file on your own behalf in a chapter 7, which absolves you of most types of debt. The chapter 13 is rarely attempted by someone unschooled in the law due to its complexities.
The chapter 13 is very complicated with many official documents to be submitted to the court. These include a B1 petition, repayment schedules, the statement of financial affairs and a means test, which is the form B22. A chapter 7 takes the petitioners possessions to be sold and pay off debtors. They will only receive partial payment.
In the chapter 13, the person filing is making arrangements to repay his debt over a certain period of time. Usually 5 years is allowed. He must have sufficient income at the time of filing to ensure that will be financially possible. He retains ownership of property in the chapter 13.
A federal judge must approve all petitions. If one is not filed correctly it will not be approved. Relying on an attorney to fill out and file the documents is the most efficient way to petition the court. Your legal representative can assure that your best interests are in place as well as all required information and signatures.
An attorney may allow his fee to be paid in installments. However, there are predetermined bankruptcy fees. In most cases, these must be paid at the time of filing the paperwork. People falling below a certain level of income might be allowed to pay these fees in installments too.
These laws are complicated and it is wise to have a lawyer represent you. It is, however, possible to file on your own behalf in a chapter 7, which absolves you of most types of debt. The chapter 13 is rarely attempted by someone unschooled in the law due to its complexities.
The chapter 13 is very complicated with many official documents to be submitted to the court. These include a B1 petition, repayment schedules, the statement of financial affairs and a means test, which is the form B22. A chapter 7 takes the petitioners possessions to be sold and pay off debtors. They will only receive partial payment.
In the chapter 13, the person filing is making arrangements to repay his debt over a certain period of time. Usually 5 years is allowed. He must have sufficient income at the time of filing to ensure that will be financially possible. He retains ownership of property in the chapter 13.
A federal judge must approve all petitions. If one is not filed correctly it will not be approved. Relying on an attorney to fill out and file the documents is the most efficient way to petition the court. Your legal representative can assure that your best interests are in place as well as all required information and signatures.
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