How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Phillips Esq. Your Own Question

Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 13002
Experience:  B.A.; M.B.A.; J.D.
16551887
Type Your Bankruptcy Law Question Here...
Phillips Esq. is online now
A new question is answered every 9 seconds

FOR PHILLIPS ONLY This is a follow up question, assuming

Customer Question

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.

How would this bankruptcy impact such a situation, typically ?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Phillips Esq. replied 1 year ago.
Hello: This is PhillipsEsq. I am a licensed Attorney and I will be assisting you today.


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:

http://www.uscourts.gov/bankruptcycourts/resources.html



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

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:

http://www.uscourts.gov/bankruptcycourts/resources.html

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:

http://www.nacba.org/


http://www.naca.net/


http://www.justia.com/

http://www.lawyers.com/

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.




http://bridgeportbankruptcy.com/bridgeport/index.asp


http://usabankruptcyassociates.com/usabk/moreinfo.asp#wedo





Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 13002
Experience: B.A.; M.B.A.; J.D.
Phillips Esq. and 3 other Bankruptcy Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.
 
 
 

Related Bankruptcy Law Questions