new to board

[khennion]

new to the board quick scenario (i see readers want details)
over the last 2 years have racked up quite a bit of debt around 20,000
the business i was part of has desolved and i have not been paid for about 3 months, needless to say i am broke. creditors/agencies are calling me and driving me insane..i also lease a car, which is paid to date.
would anyone recommed filing chapter 7 without a lawyer? obviously money is a issue so if i could i would like to do it myself...
im just kind of freaked out and dont know what to do..any advise would help and be appreciated
any free BK kits?
p.s. i have contacted a counseling agency

[edwards2]

Given your circumstances I suggest hiring an attorney. I understand spending money now is the last thing you need to be doing but usually a consultation is free. Right now you need to find out whether you qualify or not and if you do, under what chapter. Since your business has dissolved and you have credit card agencies hounding you I would strongly advise you to see a lawyer asap. Once you do that come back and let us know what is going on and we will try and help. This forum is a great reference tool. There are a lot of people who have been through BK or are going through it like you. My husband and I filed a Chapter 7 which was discharged in August 2005. It is a very stressful time and you will need all the support you can get. Good luck..

[khennion]

thanks for the advise...
i will read about it, seems like the time is now...
income for the last year has been well below the average, so i know thats not a problem, and i wasnt on any business paper work, just verbal..so its all personal credit debt...

[SinkingFast]

Evidently business BK's got much harder under the New Law. Dunno for sure. Just posts of other people I've read.

One guy here, can't remember who, said his attny advised he file personal BK and let the company, an LLC, die a natural death.

Many people on the Forum filed BK under the old law. Even those folks are recommending finding an attny right now. There aren't any books or filing software available much to help Pro Se filers right now. Down the road, I'm sure that will change. Keep in mind too, that established practicing attnys, who already knew the BK law inside and out, have been spending many, many hours researching and learning, and attending seminars and courses about the changes and application of the New Law.

Another thing you have to consider, beyond deciding how to file and doing the paperwork, is dealing with the Court. Some Pro Se filers on the Forum have had good experiences. They did extensive research before filing, and had their paperwork pretty much done right the first time. Overall, Pro Se filers get picked on by the Court. Trustees and Judges know Pro Se filers don't know the law and they use that to their advantage.

[Minnymouth]

Consult with an attorney and learn your options.

Then should you decide to file - quit paying credit cards, etc and only pay what you really need too - utilities, mortgage (if keeping home), auto payments, insurance....

Use the money saved from paying credit cards to pay your attorney.... most will set up a payment plan (but must be paid in full before they will file for you).... But during this time they can send creditors a Intent to File Bankruptcy letter to stop creditors from driving you crazy.

If you are unsure of laws etc, do not file pro se..... you can end up having your case dismissed thru lack of your own knowledge of bankruptcy procedures.

Keep us posted, let us know what your going to do....

[khennion]

thanks minny
thats actually helped me quite a bit..
im going on monday to meet with a attorney...
i will let you guys know how it goes, again thanks for the help i appreciate it

p.s. i read alot about after your 341 hearing, the waiting period what happens? creditors can dispute? if they do dispute can you make arrangements?
or is the waiting period to see if your BK can even go through?

[khennion]

error

error

[Minnymouth]

Also if you own a business or partner in a business check with your attorney how your business would be involved in the bankruptcy and any options that might be open to you to protect your business interest.

[khennion]

Also if you own a business or partner in a business check with your attorney how your business would be involved in the bankruptcy and any options that might be open to you to protect your business interest.

i hav thought about this please read above about after 341 hearing..
thanks for all the help

[so-beyond-broke]

Khennion

I read this post at AOC as well. Filing a Ch7 can be done without a lawyer although many users here don't advise it. Regardless of what you decide, you must be an educated consumer of whether you file w/ or w/o a lawyer. Don't always expect that because you are paying a lawyer to work w/ your bk that they are doing the rights things to benefit you. Some people have been burned relying solely on their lawyers and entering bk with blinders on. Just watch out.

so-beyond-broke

new to the board quick scenario (i see readers want details)
over the last 2 years have racked up quite a bit of debt around 20,000
the business i was part of has desolved and i have not been paid for about 3 months, needless to say i am broke. creditors/agencies are calling me and driving me insane..i also lease a car, which is paid to date.
would anyone recommed filing chapter 7 without a lawyer? obviously money is a issue so if i could i would like to do it myself...
im just kind of freaked out and dont know what to do..any advise would help and be appreciated
any free BK kits?
p.s. i have contacted a counseling agency

[AAAArt]

Creditors have the right to dispute and show up AT the 341. After that, it's up to the Trustees.
Once you file, an automatic stay will go into effect tp prevent collection attempts (no phone calls, letters, etc.) They can file during this time to repo secured items, however.
Most creditors (except secured) don't bother to contest. If they contest, they must prove that you had both no intent and no ability to pay them back. Very difficult to prove. Most often comes up with large balance transfers which occurred recently before filing Bk.
Hope this helps. Best wishes, Art

[khennion]

actually helps me out alot thanks
all unsecured debt credit cards and a line of credit (personal line)
i have a computer with dell is that secured?

[FilingOnMyOwn]

new to the board quick scenario (i see readers want details)
over the last 2 years have racked up quite a bit of debt around 20,000
the business i was part of has desolved and i have not been paid for about 3 months, needless to say i am broke. creditors/agencies are calling me and driving me insane..i also lease a car, which is paid to date.
would anyone recommed filing chapter 7 without a lawyer? obviously money is a issue so if i could i would like to do it myself...
im just kind of freaked out and dont know what to do..any advise would help and be appreciated
any free BK kits?
p.s. i have contacted a counseling agency

I recommend filing pro se only if you have nothing to lose, no assets. A leased car is not an asset, its a contract. If you have nothing else, you might do ok, but still find out about keeping your lease first, if you still want it. And dell may or may not be interested in the computer, depending on how long you've had it. Over 6 months, chances are you'll keep it.

[SinkingFast]

actually helps me out alot thanks
all unsecured debt credit cards and a line of credit (personal line)
i have a computer with dell is that secured?

If you financed it thru Dell, it might be secured. Depends on their terms. If you bought it on a CC, it's not.

Khennion

Regardless of what you decide, you must be an educated consumer of whether you file w/ or w/o a lawyer. Don't always expect that because you are paying a lawyer to work w/ your bk that they are doing the rights things to benefit you. Some people have been burned relying solely on their lawyers and entering bk with blinders on. Just watch out.

so-beyond-broke

That is so true. I started researching and I knew we could pass the Means Test. But we saw attny after attny who wanted to put us in a Ch 13. Only 2 said we were 7 without a doubt. Even if you use an attny, be sure you know what's going on.