Am I qualified for bankruptcy?
If you have found this page because you are tired of living in debt, there is a good chance that you are eligible to declare bankruptcy. The Federal Government provides this legal shelter for individuals who are struggling with the burden of significant debt, such as after a major medical event, divorce or job loss. There is a means test which will determine whether you can file under Chapter 7, but even if you do not pass the test, Chapter 13 still offers significant debt relief.
How long does it take?
A Chapter 7 bankruptcy can usually be completed within 6 months of the date when you file your petition, while Chapter 13 involves a predetermined period of continued payments on your debts, either 3 or 5 years. You will be required to attend a course of debt counseling before you can begin the bankruptcy process, but this does not usually take long and can be done online.
Do I have to hire an attorney?
You are not required by law to retain a bankruptcy attorney to represent you, but it is highly advisable that you do so. Without extensive familiarity and experience with bankruptcy law, you are at risk of mistakenly disqualifying yourself from filing, and you could also make errors which would leave you with unnecessary debts at the end of the bankruptcy. It is also possible that you could lose your home or other property through failure to properly apply bankruptcy exemptions.
Questions & Answers About Bankruptcy
The team at Tolin & Tolin, PLLC has a lot of experience with bankruptcy, and if you are determined to get out of debt, we have the answers you are looking for. You should not have to keep living with the stress and anxiety of owing more than you can afford to pay back. We are considerate and hard-working, and will give you the individual attention you deserve. Call us or visit our office today for a consultation.