Basic Information

  Too much debt? Bills and collections piling up? A garnishing looms in the horizon? Then Bankruptcy relief may be the answer to your problems, especially in difficult economic times. We understand that and are here to help. Why pay a lot of money, which most people don't have in the first place, when you can obtain the exact same result by following a simple system and putting in a little effort? Isn't that worth to you, in order to get those pesky collection calls off your back for good and get some well deserved peace of mind? To have a decent living standard? To put food on your table? If you have what it takes to get it done, we are committed to take you by the hand as much as we can, to take you there. Below you will find some information that we know will be useful and beneficial for anyone getting ready to file a Chapter 7 Bankruptcy, but we also know that many of you already know this. Please, take what you need from the information provided and continue to the sections entitled "Starting the Process" and "How do we compare", where we describe how our system works, what we need from you, and what you can expect from us.

  Consumers and businesses can use the Bankruptcy Code to protect their assets from creditors. The goal of a person filing for bankruptcy (known as a Debtor) is to obtain a discharge of debt-an order declaring that the creditors listed in the bankruptcy petition are forever prohibited from attempting to collect money or property from the debtor. Keep in mind, however, that the code also provides for an orderly distribution of any of the debtor's property that isn't protected, in order to pay creditors.

  How bankruptcy works and which chapter of the Bankruptcy Code is appropriate for a person (or married couple, if filing jointly) depends on what they own and to whom they are in debt.

About the Code

  The Bankruptcy Code is designed to provide a fresh start for individuals, families or business by legally erasing all or most debts, but it also protects certain creditors, particularly lenders that retained security or collateral for the extension of credit (such as a home mortgage or a car loan). In those cases, a debtor may have to choose to either continue to be obligated to the creditor or surrender the collateral and have the debt canceled. The code prioritizes debts and some of them, such as: taxes, student loans and child support generally cannot be discharged.

Types

For a business, there are two bankruptcy options: Chapter 7, Liquidation and a Chapter 11, Reorganization. In the latter, the business continues to operate while a plan is constructed to make the business profitable again. When the plan is approved, the debtor's contractual obligations and indebtedness are modified. In a liquidation, the business is padlocked, the assets are inventoried, and everything--from the merchandise to the fixtures-- that is not exempt is sold at a liquidation sale. Money raised at the sale is used to pay down debt.
An individual considering bankruptcy chooses between Chapter 7 and Chapter 13. An individual debtor filing under Chapter 7 may assert exemptions to protect property. Exempted property may not be taken and sold. Because of this its very important for a person planning to file a Chapter 7 to consider what his or her assets are, their current fair market value and to what extend, if any, they are protected (exempted) under applicable State or Federal law. You can find an example of exemption on some of the States we prepare Petitions in, by following this List, If everything is exempted and nothing is sold, no money is available to pay off creditors. The Court has a form called B 201, that provides some more information about this and they want you to read it.

  If a consumer debtor owns nonexempt or partially exempt property, he or she now faces the possibility of the Trustee seizing that property, selling it, and using the proceeds to pay creditors... or filing under Chapter 13. This is also true for those whose income exceeds the median for their state and family size. A Chapter 13 debtor, under certain limitations, may retain this property by making payments under a Court supervised plan. Debtors not eligible for Chapter 13 protection face either a liquidation (or loss of property, as just described) or a complicated, expensive reorganization.

  Because Chapter 7 provides a means for a fresh start for qualifying individual and business debtors, we specialize on this one.

Qualification

  In order to be able to file under Chapter 7, you must first qualify for it. There are 3 main areas that should be checked before filing: Income, Residency and Prior filing.

Starting the Process

  A Chapter 7 bankruptcy procedure begins with the filing of a petition. Accompanying the petition, several schedules, a Statement of Financial Affairs and Matrix of Creditors are included. All these documents detail the debtor's personal information, property, creditors, amounts owed, monthly earnings and expenses and their general financial affairs for the past two years. As stated in the home page, we have a workbook that will be available for download from here soon, or you can use the link at the bottom of this page to fill an online (secured) version. Also, you can get it from our office in West Valley City, just send us an email or call to get a copy. This workbook provides us with the bulk of the information needed to prepare the actual Court forms, Follow this link to see a brief tutorial about how to fill out the workbook Video Tutorial.

  As part of filling out the Workbook or Questionnaire, we suggest that you get an updated copy of your Credit Report. You are entitled to a free copy from every one of the 3 reporting agencies every 12 months. Follow this link to obtain your Credit Report

  Prior to filling for bankruptcy, a debtor must undergo credit counseling through a Court approved agency within the last 180 days before filing and to disclosure his or her income, for a list of Court approved providers click here. If you are filing in Alabama or North Carolina, use the appropriate link for your district, in any other State, use the "U.S. Trustee Approved Agencies" to choose a provider for the Credit Counseling and, after filing, the Debtor Education Classes. Therefore, the items that we will need from you are: 1) Workbook filled out as completely and accurately as possible, 2) The certificate of completion for the Credit Counseling, and 3) Most recent 60 days worth of paystubs or equivalent. You can find more information about the Pre-Filing and Pre-Discharge clases by reading this brochure.

  When we receive the filled workbook from you or once you complete the online questionnaire , we will revise it and make sure that all relevant fields are completed and that all the pieces are where they belong, if some information is missing or is not clear we'll call and get clarification before we print the final documents.

  Once completed and printed, these forms can be sent to the client by mail, email or a meeting can be arranged at our office to review and sign them. The combination of these completed and signed forms, the credit counseling certificate and the pay stubs constitute the package that is filed with the Court.

How do we compare

  We are different from bankruptcy attorneys in 4 distinct categories and are similar in 1:

  1. We can't give legal advice. Whether if commencing a case under chapter 7, 11, 12, or 13 is appropriate; or if your debts will be eliminated or discharged in a case under the Bankruptcy Code; or whether you may or should promise to repay debts to a creditor; or enter into a reaffirmation agreement with a creditor to reaffirm a debt; or even on how to characterize the nature of your interests in property or your debts.
  2. We don't prepare documents for Chapter 13 bankruptcy. We feel that, because of its complexity, is more difficult to navigate without an attorney.
  3. We can't represent you at the 341 Hearing. This meeting usually takes place around 30 to 40 days after the initial filing and the creditors are invited to attend, although they seldom do. The Trustee (or a Bankruptcy Administrator if filing in Alabama or North Carolina) will preside over the meeting and it typically last for 10 to 15 minutes. However, contrary to popular belief, a judge will not be present; they are prohibited from attending in order to preserve their independent judgement.
  4. We can prepare all of the necessary documents needed to file for substantially less money than an attorney, a savings of at least $600 in most cases. Plus we can even help you pay the Filing fees in installments, so you can be ready to file with a initial expense of $315! If you decide to use this option, we just need the proposed payment dates and amounts as shown in this example
  5. We guarantee that the Court where you file will accept the documents we prepare for you, or your money back, as simple as that. Just show us the proof that the Court rejected them and we will return the fees paid to AG, no question asked.

  In essence, you tell us what documents you need and we will prepare them for you. You decide, we provide!

The following link takes you to what is essentially an on-line version of our traditional bankruptcy questionnaire, designed to save you time. This service is flexible, secure and easy to use. You don't have to finish all at once, you have the option to come back as much as you need to complete the workbook. Once its completed, we will prepare the final forms and contact you to arrange for final delivery. Payment can be done through Paypal for the full amount or in 2 installments if you'd prefer. However no documents will be delivered to the customer until all fees to AG are paid in full.

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