The legal fee in a typical Chapter 7 Bankruptcy case is about $1,500. That can go up or down depending on what is involved in the case, but by and large, a legal fee of $1,500 is not out of the ordinary. You will also have to pay a filing fee on top of the legal fee. The filing fee…
A lot of people I speak to through my work at MDRF tell me all the time that bankruptcy is not for them. This is often due to the numerous misconceptions about bankruptcy that you hear about, on tv from your family or on social media. Media and your friends may tell you that bankruptcy will ruin your credit or…
If you’ve decided to look into bankruptcy, or have already consulted a lawyer and are in the process of filing, you may be overwhelmed with the legal terminology. Your lawyer will answer your questions along the way and keep you informed on the status of your case, but if you’d like a quick primer on some common terms we’ve included…
If you have filed a Chapter 7 Bankruptcy, the typical amount of time it takes from beginning to end is about 4 months. However, before your case is even filed, your lawyer will have a good idea if your case will be successful and will share that information with you. After your case is filed you will attend what’s called…
Chapter 7 Bankruptcy is a document intensive process and you will have to have proof of your finances in exchange for the Court giving you relief from your creditors and ultimately granting you a legal discharge of all your debts. The typical documents you will need are tax returns for the past 2 years, paystubs from your employment for the…
So, you’ve decided to file bankruptcy. What’s the first step? Finding adequate legal representation. There are many ways to find the best lawyer to fit your needs. Referrals from friends, local bar associations, practice organizations, attorney review websites, or even just good old Google. However, you should be careful when something appears to be too good to be true. Many…
Under the CARES Act, many Americans will be receiving a stimulus payment very soon. The IRS started distributing the money last week. Who will get the check, and how much will you get? US Citizens and Residents with a social security number, who earned less than $75,000 in 2018 and 2019, and head of househoolds who earned less thank $112,500…
Will I lose my car if I file bankruptcy? Am I allowed to have money in the bank? I don’t even have any property. We get a lot of questions and comments just like these every day. Everyone owns property, from clothing and a cell phone to cars and a house. Whether or not there is something someone could…
If you have been sued by a creditor for money, the most important thing to do is respond to the lawsuit. Never ignore a lawsuit or complaint because if you do, you will automatically lose! The next thing to do is to contact a lawyer to get a free consultation and see what your rights are. Many times, the creditor…
Here at DRF, we regularly get calls from people that are struggling with student loan debt. Many of them have not had the chance to learn about several very powerful strategies that can be used to manage and pay off their student debt. Because of this, we have decided to start a short blog series about these management strategies, who…