Wondering About Filing Chapter 7 Bankruptcy?

What Are The Benefits Of Filing A Chapter 7 Bankruptcy?

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The Benefit of Chapter 7 bankruptcy is eliminating all of your unsecured debt.

The main benefit of filing for Chapter 7 bankruptcy is eliminating all of your unsecured debt. It will erase vehicles and other assets that you no longer require to keep for the sake of not craving to be stuck with a deficiency debt afterward. It will improve the quality of your life as you will retain considerably more disposable income without exception. It will enhance you emotionally, spiritually, and physically; you will not be anxious and upset and feel sensational.


When it comes to Chapter 13, instead of paying twenty different creditors monthly, you will write one check to the trustee each month, and they will pay all of your creditors with that money. Chapter 13 will stop a foreclosure, so you will not worry about losing your house tomorrow, and it will stop the repossession of your vehicle, so don’t worry whether your car will be in the driveway when you wake up. Those are the actual benefits that are of most significant importance.

How Much Does it Generally Cost to File for Bankruptcy?

For Chapter 7, the filing fee is $335; Chapter 13 is $310. You accept the educational two credit counseling classes; the service I use is $25 for the first class and $18 for the second. My fees are highly conservative, so it’s necessary to acquire a complete credit report, which is $33 per person. In terms of attorney’s fees, it is all over the board. The colossal impersonal firms that are trying to attain as much money as possible out of you for a Chapter 7 will try to wrangle $2,500; I generally am on the much lower end of its Attorneys are just charging too much; Consequently, my compensation fees are usually somewhere between $950 and $1,750 to do a Chapter 7, depending upon how complicated it is.

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The court sets chapter 13 fees. In San Diego, a consumer Chapter 13 is $3,600, and a business Chapter 13 is $4,000. Concerning the payment of the attorney fees, Chapter 7 fees always need to be paid before you file, as the trustee’s office frowns on the idea of your attorney being a creditor after you file. From the attorney’s point of view, it is an incoherent activity because the attorney does not retain all of their money upfront. The debtor is under no obligation to pay them after the bankruptcy since all debts are discharged in bankruptcy. My standard operating procedure is to pay all of the money upfront in Chapter 7 before filing.

In a Chapter 13 case, people pay as much of the attorney fee as possible. Often, people are in so much trouble that they can barely come up with the filing fee, so I require payment out of the money they pay to the court under their Chapter 13 plan. If your payment is $800 per month, then I file my claim to realize payment out of that money, and I generally earn compensation first, with all other creditors securing payment after that. One opportune material fact about Chapter 13 is that if you do not currently possess the money to pay your attorney upfront, you can still file and stop all the insanity.

What Sets You Apart from Other Bankruptcy Attorneys?

I am just more cognizant of what is going on with the consumer when they walk into my office from an emotional and physical standpoint and evaluate them as an individual. With a plethora of attorneys, it has just become this model of sterility, an impersonal process in which they yearn to retain the case and collect as much money as possible from people and send them on their way. Attorneys who practice bankruptcy law generally do not practice other kinds of law. On the other hand, I practice in several areas of law, ultimately which the clients will use down the road; when you purge all of your debt, you desire to buy a house. You need to obtain estate planning or restart your business; I practice in all of those areas, and my goal is for the clients to come back to further their financial goals.

Moreover, my interests lie in building a trusted advisor relationship with the client on a long-term basis, so I spend more time with people and grasp their actual needs; I understand their goals and objectives and where they envision themselves in the future, and I help them realize their goals. That is legitimately what sets the law firm of Steven F. Bliss apart from other attorneys.

What is the Best Way to Set Up An Initial Consultation?

Nonetheless, it’s uncompromisingly easy for people to contact my law firm. They can contact our law office through my website or call my office or email. I generally make myself available throughout the day. I return calls over the weekend, so if somebody leaves a message on Saturday afternoon, I will call them back Saturday night or Sunday if they wish; I do my best to make myself available.