FOR PHILLIPS ONLY This is a follow up question, assuming that I file a petition of banjruptcy, what are the costs involved, knowing that at this time I am completely broke, I am transitioning and will get a job with a salary starting October 1st and I will get by the end of that Month, but then again, it's only $1,000 and I need it for my survival, even though the utility bills and alike are paid as i have signed a lease and management contract with a Vacation Rental Company that sublets a part of my house and pays for these bills in consideration, leaving me a small fee that i have cashed as advance and spent already, and i have a reverse mortgage so I don't pay each month etc... and can live on a dime. So basically my bills are for my car (gas) and as I am retired, I use it scarcely, and my food. Response 1: Since you do not have substantial assets, you can use a document preparer to prepare and file your bankruptcy case for less than $300.00. Click on the links below for document preparers. Document Preparer 1
Document Preparer 2
The filling fee for Chapter 7 is $306.00. You may able to waive this filing fee if your income is 150% below the current poverty guidelines. Click here for current poverty guidelines:
Kindly note that despite a particular document preparer web sites, which claims that a debtor cannot qualify for fee waiver if the debtor hires an Attorney, YOU CAN INFACT QUALIFY FOR A FEE WAIVER EVEN IF YOU RETAIN AN ATTORNEY TO FILE YOUR CASE. What is relevant is whether or not you are income eligible and not whether or not you have an Attorney. How would this bankruptcy impact such a situation, typically ? Response 2: No, impact. You need means of transportation and is therefore allowed expenses for it.
Your retirement income is not considered property of the bankruptcy estate. Money that is in your retirement account cannot be touched by the bankruptcy Trustee.
You would be eligible to file for Chapter 7 bankruptcy protection, if you meet the Means test—the income test. If your income is equal to or less than the current income guidelines for your family size in your state, you would be eligible to file for a Chapter 7 bankruptcy all things being equal. The income used in calculating the Means test is the income for the 6 months before the filing of the bankruptcy petition. This means that if you are filing for bankruptcy protection this month, September 2013, the income that would be used is your income from March 2013 to August 2013. If you are filing next month, October 2013, the income that would be used in the Means Test calculation would be the income from April 2013 to September 2013, etc.
These are current income guidelines for the State of Florida:
Family size of one person $41,915.00 Family size of two persons $51,760.00 Family size of three persons $54,934.00 Family size of four persons $65,260.00 Add $8,100.00 for additional individual
Because you are unemployed, you would meet the Means Test.
You must receive budget and credit counseling from an approved credit counseling agency and obtain a Certificate of Credit Counselling to be filed with your bankruptcy case. The agency will review possible options available to you in credit counseling and assist you in reviewing your budget. Different agencies provide the counseling in-person, by telephone, or over the Internet.
It is usually a good idea for you to meet with an attorney before you receive the required credit counseling. Unlike a credit counselor, who cannot give legal advice, an attorney can provide counseling on whether bankruptcy is the best option. If bankruptcy is not the right answer for you, a good attorney will offer a range of other suggestions. The attorney can also provide you with a list of approved credit counseling agencies, or you can check the website for the United States Trustee Program office at http://www.usdoj.gov/ust/eo/bapcpa/ccde/cc_approved.htm
After your case is filed, you must complete an approved course in personal finances. This course will take approximately two hours to complete. Your attorney can give you a list of organizations that provide approved courses, or you can check the website for the United States Trustee Program office at http://www.usdoj.gov/ust/eo/bapcpa/ccde/de_approved.htm
You may consider consulting a local bankruptcy Attorney for further explanations of your rights and responsibilities.
The sites below are good resources for finding bankruptcy Attorneys in your area:
As stated previously, if you cannot afford an Attorney, then the next best alternative will be to use bankruptcy petition preparer. Bankruptcy petition preparers prepare bankruptcy forms but they cannot give you legal advice because they are not attorneys. Click on the links below for some of the bankruptcy petition preparers. You can do some searches on Google or Yahoo if you do not like the ones on the links below.
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