Q. Is there a fee for a consultation? A. There is a $50.00 fee for a consultation for personal bankruptcy (single or joint) and a $250.00 fee for a consultation involving a business situation. These amounts are credited to attorney's fees due, if the client choses to go forward with retaining Ms. Bowen.
Q. Does your office have payment plans? A. Yes! We work with each client individually to provide them with the flexibility necessary for them to retain our firm.
Q. What should I bring to my initial consultation? A. 1. A list. You will need to bring a simple, complete list of everyone you owe money to with the amount you owe to each company or person. Just write the name of the bank, company or person and the total balance due. Your handwritten or typed list should include your home mortgages, vehicles, credit cards, bank loans, personal loans, student loans, and medical bills.
2. Suit papers. If you have received any papers from an attorney bring them. If you have been sued or anyone has taken you to Court, bring those papers to your first meeting with the attorney.
Q. What should I NOT bring to my initial consultation with the attorney? A. Please, please do not bring a big stack of bills or your credit reports. The attorney does not have time at your initial consultation to sort through all those papers. She would rather spend that valuable time in your meeting getting to know you and your problems so that she can advise you of all your options and answer all of your questions. If you arrive at your appointment with only a credit report or a large pile of bills, you will not be able to meet with the attorney until you have prepared the simple list (discussed above) with the creditor’s name and the total balance you owe to each person or company.
Q. What are the different kinds of bankruptcy? A. There are four different types of bankruptcy including Chapters 7, 11, 12, and 13. Our office currently handles Chapter 7 and Chapter 13 cases, but the attorney will inform you about all types.
Chapter 7 Bankruptcy is called a “Liquidation” and is the most common type of bankruptcy filed. In general, most people in Chapter 7 keep most of their property and erase most of their debt within a short period of time. There lots of exceptions here, so talk to the attorney to fully understand if you qualify for Chapter 7.
Chapter 13 Bankruptcy is called a “Reorganization” or a “Wage Earner” Bankruptcy. In this type of bankruptcy you consolidate all of your bills into one monthly payment. You pay for 3 to 5 years. Generally, you do not have to pay back all of your debts–only what you can afford to pay back. Chapter 13 is often used by people who are behind in their mortgage or car payments, who have tax obligations, who own a lot of property which they would otherwise lose in a Chapter 7, who have the ability to repay some, but not all of their debt, or who just have a strong desire to repay what they can.
Chapter 11 Bankruptcy is a reorganization for companies trying to stay in business. Some individuals who do not qualify for Chapter 13 must file Chapter 11. However, it is a very complex and expensive type of bankruptcy, so most individuals try not to fall into this category.
Chapter 12 Bankruptcy is for Family Farmers. We have almost no farmers in Central Florida, so it is not a type of bankruptcy we usually see in Orlando. There were no Chapter 12 cases filed in 2004 in the 5 county area of Central Florida that makes up our Orlando Division of the Bankruptcy Court.
Q. How long does this process take? A. A Chapter 7 case takes between 4-6 months. A Chapter 13 case can take between 3-5 years.
Q. What is a Discharge?
A. A Discharge is a Court Order that states that you are no longer responsible to pay most of your debts.
Q. Will I be able to obtain credit after filing for bankruptcy? A. Yes! You will be offered credit immediately after your bankruptcy case is "Discharged" or done. However, you can expect to pay higher interest rates initially than someone who never had financial problems.
Q. How long will a bankruptcy notice stay on my credit?
A. A bankruptcy filing will remain on a credit report for 10 years.
Q. Will I ever be able to purchase a home if I file bankruptcy? A. Yes! Most people can buy or refinance a house within two years. Some mortgage brokers will even lend you money to buy a home one day after bankruptcy.
Q. How long until I can purchase another car? A. Usually you can buy a new or used car immediately after bankruptcy. With your Discharge in hand, most any creditor in town will finance your purchase — but at a very high interest rate.
Q. Do I have to include all of my credit cards and bills when I file bankruptcy? A. Yes. You must report/include ALL of your debts. You can still agree to pay some of your debts, but you must disclose all debts to the Court.
Q. Do I have to go to Court?
A. Yes. Usually one time for Chapter 7 cases and twice for Chapter 13 cases. The attorney will fully prepare you for the hearings so that you do not have to worry about what to expect.
Q. What should I bring to Court?
A. Your Driver’s License showing your current address and your Social Security card.
Q. Is there anything I have to do before going to a Court meeting? A. Before the §341 Creditor meeting you must read the U.S. Trustee’s Information Sheet. You will not be tested on it, but you want to be able to tell the Trustee that you did review the sheet.
Q. Does your firm accept credit cards as payment for your fees? A. No. We accept cash, cashier’s checks, official checks or money orders for payment.
Q. Will I be able to keep my home? ... my car? A. Usually. It depends on a lot of factors, and this question can best be determined by scheduling an office appointment.
Q. How can I schedule an appointment? A. You can schedule an appointment by contacting our office Monday through Friday from 8:30 a.m. until 5:30 p.m. Our staff will gladly assist you in finding a time that is convenient for you.
