Bankruptcy Requirements - Debt Counseling
Often before anyone considers bankruptcy or steps foot in a Boise Bankruptcy Attorney's office they have tried to pay off their debt on their own or they may have even gone to credit counseling. Even though many have taken steps on their own to improve their ability to be financially stable, the amended 2005 Bankruptcy Code requires that anyone who files for bankruptcy must take not one, but two debtor education classes.
Pre-Bankruptcy Debt Counseling
The first debt education course must be taken before you file for bankruptcy. This must be done within 6 months of the actual filing. This debt counseling focuses on helping individuals focus on ways that they might be able to pay off their debt on their own, without filing for bankruptcy. After you have completed this course you will be given a certificate of completion. Your bankruptcy lawyer will attach and file this with your bankruptcy petition.
Money Management Education
The second debt education class must be completed before your bankruptcy is approved. You must complete this education course otherwise your debts will not be discharged. This class focuses on personal finances. It teaches you how to budget, use credit wisely, how to manage your money and how to start saving, instead of spending. Upon completion of this course your bankruptcy attorneys will file the form evidencing completion and your bankruptcy can go forward.
How do you know where to go for counseling?
There are a lot of companies that would like you to come to them for debt counseling. The Federal Bankruptcy Court has a list of approved credit counselors which you can get from your Boise Bankruptcy Attorney. In order to be approved you must use one of these sources.
The policy behind the change in the Federal Bankruptcy Code was to ensure that people wouldn't just rack up debt and then use bankruptcy as an easy way out. While the majority of people who resort to bankruptcy are fine people who have had serious circumstances that effect their finances like divorce, illness or loss of a job, some people don't take financial responsibility seriously. Even though these courses are required to ensure that people understand the seriousness of bankruptcy, they do provide useful information such as how your finances change due to divorce, or how to approach a creditor and ask for help in paying off the debt instead of defaulting. Sometimes we are perfectly able to handle ourselves financially until a severe set of circumstances present themselves. As a Boise Bankruptcy Attorney I have seen individuals turn to bankruptcy because of a personal injury or a divorce or termination from their job of twenty years. These are good people who know how to manage their finances but the circumstances become so grave that they do not have a choice. Debt counseling may not help these people but, like with most things, uniformity wins the day. The list of debt counselors provided by the Federal Bankruptcy Court are accredited and highly effective counselors. Even if you think counseling won't help, you might be surprised.
If you are considering bankruptcy and would like to speak to one of our Boise Bankruptcy Lawyers give us a call, (208) 472-2383 and see what we can do for you.
Showing posts with label Boise bankruptcy lawyers. Show all posts
Showing posts with label Boise bankruptcy lawyers. Show all posts
Wednesday, April 25, 2012
Wednesday, February 29, 2012
Boise Divorce Attorneys - Bankruptcy Lawyers - Criminal Lawyers - What Do They Have in Common?
Want to Hear a Lawyer Joke?
What do Boise Divorce Attorneys, Boise Bankruptcy Lawyers and Boise Criminal Lawyers all have in common? Well, sounds like a joke doesn't it?
Contrary to what you might think, divorce lawyers, bankruptcy attorneys and criminal attorneys actually offer overlapping legal representation. Who would ever think that divorce, bankruptcy and criminal law were related? Welcome to the wonderful world of the law. Let me give you a few examples of where each area of law overlaps with the other.
Divorce and Criminal Law
Let's start with divorce. Elements of a divorce can enter the criminal world in a couple of ways. When there is domestic violence, crime enters family law. The unique thing about domestic violence is it can be handled in the divorce court, rather than the criminal court. This doesn't mean that it necessarily stays there, because it can move to criminal court if there is a violation or if violence is perpetrated upon an individual, but the initial charge starts there and stays there unless further violence occurs.
Another issue where divorce and criminal law are brought together are destruction of community property. In Idaho it is a crime to destroy property of the community. It falls under the crime of malicious injury to property. This crime doesn't necessarily always occur during a divorce and if you intentionally damage your property you can be charged with a crime whether you are in the middle of a divorce or not. A related crime is the failure to preserve community funds. If you are getting a divorce and you run out and spend a ton of money on something wholly unnecessary or gamble away your savings, you have just squandered community funds and can be charged with a crime for it.
Another area that divorce and criminal law come into contact is in child support and paternity. If a mother, knowingly pretends that a man is the father of her child and collects child support for that child from that man, she can be charged and required to pay back the support taken from the man.
Divorce and Bankruptcy
The relationship between bankruptcy and divorce is a slightly different relationship than connection between divorce and criminal law. Bankruptcy plays apart in divorce in two situations. The first situation is when you file for bankruptcy and then you file for divorce. Part of Chapter 7 bankruptcy is a means tests. Income is based upon the family income. If your income goes down you may qualify for a Chapter 7 when before you did not. The community property also becomes an issue when the property has been divided pursuant to a divorce decree. When one party files bankruptcy and there is a piece of property with an outstanding balance on it, if it was acquired by the community, it is possible that the creditor can come after the other party for the outstanding balance.
Bankruptcy and Criminal Law
The relationship between criminal law and bankruptcy is one of fraud. Fraud can rear it's ugly head anywhere and this is not exception. If you fraudulently file for bankruptcy or provide false information on your bankruptcy petition or any of the schedules, you can be charged with a crime.
If you need to speak to a Boise Divorce Attorney, a Boise Criminal Lawyer or a Boise Bankruptcy Lawyer, give us a call and see what we can do for you. Call today, (208) 472-2383. You will be glad you did.
What do Boise Divorce Attorneys, Boise Bankruptcy Lawyers and Boise Criminal Lawyers all have in common? Well, sounds like a joke doesn't it?
Contrary to what you might think, divorce lawyers, bankruptcy attorneys and criminal attorneys actually offer overlapping legal representation. Who would ever think that divorce, bankruptcy and criminal law were related? Welcome to the wonderful world of the law. Let me give you a few examples of where each area of law overlaps with the other.
Divorce and Criminal Law
Let's start with divorce. Elements of a divorce can enter the criminal world in a couple of ways. When there is domestic violence, crime enters family law. The unique thing about domestic violence is it can be handled in the divorce court, rather than the criminal court. This doesn't mean that it necessarily stays there, because it can move to criminal court if there is a violation or if violence is perpetrated upon an individual, but the initial charge starts there and stays there unless further violence occurs.
Another issue where divorce and criminal law are brought together are destruction of community property. In Idaho it is a crime to destroy property of the community. It falls under the crime of malicious injury to property. This crime doesn't necessarily always occur during a divorce and if you intentionally damage your property you can be charged with a crime whether you are in the middle of a divorce or not. A related crime is the failure to preserve community funds. If you are getting a divorce and you run out and spend a ton of money on something wholly unnecessary or gamble away your savings, you have just squandered community funds and can be charged with a crime for it.
Another area that divorce and criminal law come into contact is in child support and paternity. If a mother, knowingly pretends that a man is the father of her child and collects child support for that child from that man, she can be charged and required to pay back the support taken from the man.
Divorce and Bankruptcy
The relationship between bankruptcy and divorce is a slightly different relationship than connection between divorce and criminal law. Bankruptcy plays apart in divorce in two situations. The first situation is when you file for bankruptcy and then you file for divorce. Part of Chapter 7 bankruptcy is a means tests. Income is based upon the family income. If your income goes down you may qualify for a Chapter 7 when before you did not. The community property also becomes an issue when the property has been divided pursuant to a divorce decree. When one party files bankruptcy and there is a piece of property with an outstanding balance on it, if it was acquired by the community, it is possible that the creditor can come after the other party for the outstanding balance.
Bankruptcy and Criminal Law
The relationship between criminal law and bankruptcy is one of fraud. Fraud can rear it's ugly head anywhere and this is not exception. If you fraudulently file for bankruptcy or provide false information on your bankruptcy petition or any of the schedules, you can be charged with a crime.
If you need to speak to a Boise Divorce Attorney, a Boise Criminal Lawyer or a Boise Bankruptcy Lawyer, give us a call and see what we can do for you. Call today, (208) 472-2383. You will be glad you did.
Saturday, February 4, 2012
Boise Bankruptcy Lawyers (208) 472-2383 - Chapter 7 Bankruptcy
The Nuts and Bolts of Bankruptcy
As Boise Bankruptcy Lawyers we often get calls from individuals wanting to know how much bankruptcy costs and how long it takes. These are common questions which I call the Nuts and Bolts of Bankruptcy.
The first cost to consider is the cost of having a Boise Bankruptcy Attorney represent you. There is a wide range of costs here. Some lawyers will charge the least possible amount, while other attorneys represent the more expensive end. So how much should you pay for a bankruptcy? The answer to this depends upon how comfortable you are with your bankruptcy and how much input, advice and effort you will expect from your bankruptcy attorney. If you want to get off on the cheap, then you shouldn't expect too much help or advice. You also, however, don't need to spend an arm and a leg. You can find a reasonably priced bankruptcy lawyer to get the job done right. Another thing to consider when looking at the cost of bankruptcy is how much debt do you have and how much time will the bankruptcy lawyer have to put into your case. Obviously, the more debt the more work.
The next cost is your filing fee. Every Chapter 7 Bankruptcy will come with a $299 filing fee. That is the fee established by the Federal Bankruptcy Court.
What is required for a Chapter 7 Bankruptcy
You must file a bankruptcy petition in Federal Bankruptcy Court. It is here that you pay your $299 filling fee. You must reveal all of your debt, whether it is dischargeable or not. Certain debt, such as student loans, taxes and child support cannot be discharged. An individual filing for bankruptcy will be required to go to credit counseling. It must be through an accredited and recognized company. For a list of acceptable credit counselors, go to www.usdoj.gov/ust
In addition, your bankruptcy will be overseen by the bankruptcy trustee and you and your bankruptcy attorney must attend a debtor examination. After the trustee is convinced that you have revealed all of your debt, it is up to the bankruptcy judge to affirm your bankruptcy. It can take about 4-6 months for a bankruptcy to be completed. However, once you have filed for bankruptcy an automatic stays is put into place and all collection activity must cease.
Also, you may only file for Chapter 7 Bankruptcy once every eight years. If you get into another financial fix and are swamped with debt, it is possible to file a Chapter 13 Bankruptcy. In a Chapter 13 your debt is not discharged, it is reorganized and you are put on a payment plan.
If you have overwhelming debt and need to speak to a bankruptcy lawyer, please give us a call and see what we can do for you. Call now, (208) 472-2383
As Boise Bankruptcy Lawyers we often get calls from individuals wanting to know how much bankruptcy costs and how long it takes. These are common questions which I call the Nuts and Bolts of Bankruptcy.
The first cost to consider is the cost of having a Boise Bankruptcy Attorney represent you. There is a wide range of costs here. Some lawyers will charge the least possible amount, while other attorneys represent the more expensive end. So how much should you pay for a bankruptcy? The answer to this depends upon how comfortable you are with your bankruptcy and how much input, advice and effort you will expect from your bankruptcy attorney. If you want to get off on the cheap, then you shouldn't expect too much help or advice. You also, however, don't need to spend an arm and a leg. You can find a reasonably priced bankruptcy lawyer to get the job done right. Another thing to consider when looking at the cost of bankruptcy is how much debt do you have and how much time will the bankruptcy lawyer have to put into your case. Obviously, the more debt the more work.
The next cost is your filing fee. Every Chapter 7 Bankruptcy will come with a $299 filing fee. That is the fee established by the Federal Bankruptcy Court.
What is required for a Chapter 7 Bankruptcy
You must file a bankruptcy petition in Federal Bankruptcy Court. It is here that you pay your $299 filling fee. You must reveal all of your debt, whether it is dischargeable or not. Certain debt, such as student loans, taxes and child support cannot be discharged. An individual filing for bankruptcy will be required to go to credit counseling. It must be through an accredited and recognized company. For a list of acceptable credit counselors, go to www.usdoj.gov/ust
In addition, your bankruptcy will be overseen by the bankruptcy trustee and you and your bankruptcy attorney must attend a debtor examination. After the trustee is convinced that you have revealed all of your debt, it is up to the bankruptcy judge to affirm your bankruptcy. It can take about 4-6 months for a bankruptcy to be completed. However, once you have filed for bankruptcy an automatic stays is put into place and all collection activity must cease.
Also, you may only file for Chapter 7 Bankruptcy once every eight years. If you get into another financial fix and are swamped with debt, it is possible to file a Chapter 13 Bankruptcy. In a Chapter 13 your debt is not discharged, it is reorganized and you are put on a payment plan.
If you have overwhelming debt and need to speak to a bankruptcy lawyer, please give us a call and see what we can do for you. Call now, (208) 472-2383
Saturday, December 31, 2011
Boise Bankruptcy Lawyers (208) 472-2383 - Chapter 13 Banrkuptcy
Chapter 13 Bankruptcy
Our Boise Bankrutcy Lawyers regularly field calls about individual Chapter 7 Bankruptcy. This is probably the area of bankruptcy most recognized by the general public. However, you have undoubtedly seen the title Chapter 13 as a type of debt relief action.
So what is Chapter 13 Bankruptcy? As always, the "Chapter" referred to in Bankruptcy Law has to do with the location of the Code Section in the Federal Bankruptcy Law. Chapter 13 is a form of individual bankruptcy (not for businesses or legal entities such as corporations). Whereas Chapter 7 allows an individual to discharge their debt, Chapter 13 essentially allows an individual to create a new payment plan. If, for example, you have a secured loan on a boat or your home and you are behind on these payments, instead of loosing the property and discharging the debt Chapter 13 bankruptcy allows you to cure any default, reamortize and set up a new payment plan.
Why would an individual choose Chapter 13 Bankruptcy over Chapter 7? To qualify for Chapter 7 you must meet an income test. If you have income that exceeds the income threshold (basically you have money left over and that can be imputed to you after considering your income exemptions and after paying your monthly bills) you will not qualify for Chapter 7. Chapter 13 lets individuals struggling with debt, despite having adequate income, to get back on their feet by creating a payment plan that works for them.
If you are considering Bankruptcy and need a Boise Bankruptcy Attorney who can help you get out of debt quick, give us a call (208) 472-2383, and see what we can do for you.
Our Boise Bankrutcy Lawyers regularly field calls about individual Chapter 7 Bankruptcy. This is probably the area of bankruptcy most recognized by the general public. However, you have undoubtedly seen the title Chapter 13 as a type of debt relief action.
So what is Chapter 13 Bankruptcy? As always, the "Chapter" referred to in Bankruptcy Law has to do with the location of the Code Section in the Federal Bankruptcy Law. Chapter 13 is a form of individual bankruptcy (not for businesses or legal entities such as corporations). Whereas Chapter 7 allows an individual to discharge their debt, Chapter 13 essentially allows an individual to create a new payment plan. If, for example, you have a secured loan on a boat or your home and you are behind on these payments, instead of loosing the property and discharging the debt Chapter 13 bankruptcy allows you to cure any default, reamortize and set up a new payment plan.
Why would an individual choose Chapter 13 Bankruptcy over Chapter 7? To qualify for Chapter 7 you must meet an income test. If you have income that exceeds the income threshold (basically you have money left over and that can be imputed to you after considering your income exemptions and after paying your monthly bills) you will not qualify for Chapter 7. Chapter 13 lets individuals struggling with debt, despite having adequate income, to get back on their feet by creating a payment plan that works for them.
If you are considering Bankruptcy and need a Boise Bankruptcy Attorney who can help you get out of debt quick, give us a call (208) 472-2383, and see what we can do for you.
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