A number of concerns about bankruptcy are around a fear of the time commitment needed to file for bankruptcy. People are expecting piles of paperwork and tons of meetings, but this is simply not the case for a number of reasons. Your credit background can get very complicated with garnishments, levies, judgments, late notices, multiple creditors, multiple collections agencies. You may have lost track of the company names that are contacting you and you may be dealing with debt that is several years old which you don’t even know when the debt originated. One of the best features about bankruptcy is that a bankruptcy is all encompassing for all of your unsecured debt. You can list all of your creditors on the bankruptcy petition by checking your credit report. It is as simple as that.
Losing track of your creditors and your collections agencies is not uncommon when it comes to debt. The list of creditors or collections agencies contacting you can change rapidly over years and even months. Debt that is charged off sometimes gets sold to outside collections companies or transferred to outside collections agencies. When this happens, you will be getting calls from parties like law firms or collections companies that have completely different names from the original creditor. The debt could change hands several times, leaving several different names of companies on law suits, collections notices, etc. Your credit report is the solution to the problem. By using your credit history, we can track down all the firms collecting on you and send them notices through the bankruptcy of your filing and the discharge of your debt. If for any reason, a creditor has been left off of your bankruptcy petition, it can always be added on or you can show them your discharge notice to clarify that you have filed a bankruptcy and the debt is discharged even if you did not include them in the bankruptcy petition. You read that right. Even if it is not included in your bankruptcy petition, a debt that was incurred previous to your bankruptcy filing (assuming it is unsecured) will automatically be discharged in Chapter 7 bankruptcy. The creditor may ask to see a Notice of Discharge which is the result of the bankruptcy. You can send them the Notice of Discharge to prove that a bankruptcy was filed and their debt is not collectible any longer.
The additional paperwork involved is merely a few tax filings and a few bank statements. There is no heavy lifting on the clients end if you hire a good bankruptcy law firm to help with a bankruptcy filing. If you find that a law firm is taking advantage of you and making you do most of the paperwork, find another law firm. This is not the way it should be. A bankruptcy petition can be 50 or more pages long. A law firm that you hire should take care of the majority of the paperwork for you. After all, this work is a major part of what you are paying for.
Bankruptcy Law Professionals is a bankruptcy law firm based in Orange County and the Inland Empire. We provide attorney consultations for free before you pay a dime. You can contact us at 855 257-7671 to ask any questions regarding bankruptcy or if you would like to set up an appointment to come in to our office to meet with our attorney for a free consultation in Santa Ana or in Riverside.