Common Bankruptcy Questions Updated

Top Ten Bankruptcy Questions


  1.  Why won’t you quote your fees over the phone?
    1. Our fees are based on your needs. If your case is less complicated, you will pay significantly less than someone who may have serious issues impacting their bankruptcy options. This is why we spend so much time with you at your initial consultation. We want to learn about you and make sure you receive a fair fee.
  2. Why do you need all that paperwork?
    1. The bankruptcy rules require that certain documentation be provided to the Trustee at the time your case is filed. We would be doing you a serious disservice to not review those documents prior to giving you your options and filing your case. Those documents could determine your options.  When we review your documents we are looking to prevent problems with your bankruptcy.
  3.  Will I lose my stuff?
    1. Most property is protected (“exempt”) up to a certain value. We will review your property at the time of your consultation so you can be alerted, before you pay any money to us, as to whether property you own may be an issue. Typically, most of our clients’ property is completely safe.
  4.  I’m behind on my house can I keep it?
    1. This is not a “yes” or “no” type of question. Yes, you can, under certain types of bankruptcies and if you can afford the payments. We will review this, in detail, at your free consultation.
  5.  I have been, sued now what?
    1. Depending on your assets and source of income, your creditors may be able to attach property or garnish you. It is imperative that you learn your rights immediately so that you can be prepared and protect yourself.
    2. Time is of the essence when you have been sued.  You only have a 28 day window in Ohio to file a response or take action to prevent a judgment being entered.  You should consult with an attorney as soon as possible.
  6.  How Do I stop the phone calls?
    1. Filing a bankruptcy will stop the calls. If you have retained an attorney, and a collection agent is calling, as opposed to the original creditor, the collection agent must communicate with your attorney, not you.
  7.  What is a Chapter 7 bankruptcy?
    1. A Chapter 7 is often the best option if you are current on your secured debt (cars and your house) and have mostly unsecured debt (credit cards and medical bills).  You have to be “income eligible” and a review of your property is required to verify that you do not own anything the bankruptcy Trustee may be able to liquidate. It is important to note that if you want to keep your car or your house you have to be current and you will have to keep making the payments on the car and the house to keep them. Generally student loans and taxes are not discharged in a Chapter 7.
  8.  What is a Chapter 13 bankruptcy?
    1. A Chapter 13 is usually filed when someone makes too much money to file Chapter 7, have property worth too much to be protected in a Chapter 7, or are behind in their house or car payments.  A person can file a Chapter 13 to stop a foreclosure or a repossession. It may even be possible in Chapter 13 to get a car back after it has been repossessed.  In a Chapter 13 the individual will have to make payments to the Chapter 13 trustee for 36 to 60 months and the trustee will pay the creditors.
  9.   How do I pay my fees?
    1. We offer payment plans for you to pay your fees. Unlike most firms, we do not limit your time to pay those fees (i.e. 90 days or we will not represent you). As long as the fees are paid before your case is filed, we are very flexible.
  10. How do I know my attorney is reputable or better yet how do I choose a bankruptcy lawyer
    1.        You should always research your attorney. Call the Dayton Bar Association, check to see if they have had any disciplinary actions or license suspensions with the State of Ohio, and NEVER rely solely on representations made on a website or advertisement.
    2. This article raises five points you should consider when picking a bankruptcy attorney