|
According
to information released by the administrative office of
U.S. courts, the number of persons filing for bankruptcy
reached an all time high in December of 1996. Persons
filing for bankruptcy at that time totaled 1,111,964.
If
you are considering filing for bankruptcy, you are not
alone, many people have and will continue to file for
bankruptcy based upon the times with corporate layoffs,
downsizing, and business failure continuing.
Generally,
people filing for bankruptcy are dealing with the following situations:
| • |
Lost
Their Job or Primary Means of Support |
| • |
Been
Laid Off from Their Job |
| • |
Been
Demoted or Given a Significant Pay Cut |
| • |
Major
Family Problems Leading to Divorce, Child Custody,
or Separation |
| • |
Major
Credit Card Problems |
| • |
Catastrophic
Medical/Doctor Bills from an Uninsured Major Surgery
or Illness Such as Terminal Cancer |
| • |
Desperate
Financial Situations with Little Hope |
For
a consultation about your options call James B. Pilcher
at: (404) 350-8302.
We
have over 30 years of experience in this kind of law.
Let us help you get a fresh start.
.What is the bankruptcy process?
The
process begins with the interview with the attorney. It
generally takes about one hour. You need to bring the
names and addresses of each creditor and loan, how much
you owe, as well as a current payroll statement to our
attorney so that he can accurately present your financial
position to the court. After I complete your petition/paperwork,
you'll need to review and sign it.
The
bankruptcy is filed with the bankruptcy court. You can
file a chapter 13 (consolidation plan) or a chapter 7
(a wipe out plan).
The
court will schedule a hearing with a trustee and your
potential creditors. Creditors who have secured loans
on assets such as homes, real estate, cars, or boats are
likely to attend the initial hearing.
At
the hearing, the trustee will ask you questions about
the accuracy of your filing, your present financial situation,
and may request additional information from you.
I
will brief you as to the line of questioning and make
sure you are prepared for the trustee examination.
|
When
does it take effect?
|
Upon
filing, your bankruptcy is effective. The court will send
notice of your filing to all your creditors and bill collectors
generally within 24 to 48 hours after filing.
Upon
receipt of notice of your filing, creditors and bill collectors
are prohibited from making contact with you.
If
you should receive any harassing or annoying creditor
calls about a week after filing, immediately contact me,
I will stop the contact!
Need
more information? Give us a call at: (404) 350-8302.
.
|
