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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Thank you for your previous response. I do have a few additional

Resolved Question:

Thank you for your previous response. I do have a few additional questions:
1. I would presume that the court takes into consideration the debt to income ratio. If so, what is the ratio percentage generally, if there is a rule of thumb?

2. In doing some addtional research, it appears that the debtor has to take some credit counseling courses before the bankruptcy will be authorized. Are these on-line courses or must the debtor take courses in a physical location determined by the court? Is there a fee, either way, and if so, what is the norm?

3. If the debtor cannot afford an attorney, what are the alternatives for obtaining representation, if any?

4. In general, how long does the bankruptcy process take?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.

cfortunato :

1) The Bankruptcy court does not look at the debtor's debt to income ratio.

cfortunato :

2) A debtor must take a "Credit Counseling" course before filing a Bankruptcy, and a "Debt Management" course after filing the Bankruptcy.

cfortunato :

Most debtors do take these courses online, and each one takes approximately one hour to complete.

cfortunato :

There are many companies that offer these courses, and the one with the lowest fees is DebtorWise.org.

cfortunato :

This company charges $25 for the pre-Bankruptcy course and $15 for the post-Bankruptcy course.

cfortunato :

3) If the debtor cannot pay a Bankruptcy attorney $1200 or more to fill out and file the Bankruptcy papers, the debtor can instead pay a Bankruptcy preparer $200 to fill out the papers, and the debtor can then file them himself.

cfortunato :

Here is a website to find a Bankruptcy preparer:\

cfortunato :

http://www.usabkassociates.com/usabk/index.asp.

cfortunato :

4) The Bankruptcy process usually takes 4 - 6 months from the date of filing to the date of discharge.

cfortunato :

I think this is what you wanted to know. If not, please let me know.
Thank you.

Customer:

Thank you again for your prompt and concise response.

cfortunato and other Bankruptcy Law Specialists are ready to help you
Expert:  cfortunato replied 5 years ago.
You're welcome! And thank you again for accepting my answer!

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