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Gary E. Hinck P.A.
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“Initially Gary felt that there would be no advantage for me in proceeding, with costs equalling or exceeding debts forgiven, but after our first meeting he obviously spent some time considering my very specific situation and left me a lengthy telepho...”
FAQs
Do I have to pay my bills during the bankruptcy proceeding?
Generally, the answer is no. For specific property (usually secured) such as your car loan or your house's mortgage that you plan on keeping, you should continue to make payments. You should also continue to pay for your day-to-day expenses such as rent and utilities. You should stop making payments on other old debts incurred prior to the bankruptcy, such as credit card debts.
Can I keep any of my existing credit card accounts?
The credit card accounts for which you have a zero balance may not get notice of the bankruptcy proceeding and thus you may be able to keep your account intact. If you do have an outstanding balance when you file, you may still be able to keep your account. To do this, you usually must agree with the creditor to pay off the balance. Once you make an agreement with the creditor, you must file the "reaffirmation agreement" and get the approval of the bankruptcy court. It is advisable to consult legal assistance before you reaffirm an otherwise dischargeable debt. Some creditors will allow you to get a new account with them by reapplying with them even though you discharged their debt in bankruptcy.
How do I know if it's time for me to file?
If your creditors are attacking your assets and income and you are in debt way over your head, look into the "fresh start" filing bankruptcy may be able to provide. The stigma attached to filing bankruptcy has greatly diminished over the last decade because of a fast-increasing percentage of the population file every year.
Is it smart to hire a bankruptcy petition preparer to help me file my bankruptcy petition?
It depends on your case. However, the facts are that the vast majority of bankruptcy cases could have been successfully handled without an attorney. Accordingly, you could save hundreds of dollars or more by using a service such as ours to help you prepare your petition instead of a lawyer
Do I have to list all of my assets on my petition?
Yes. Knowingly and fraudulently concealing your assets from the bankruptcy court is a felony and the court has the power to fine you and denies you a discharge. Most bankruptcy cases are considered "no asset" cases because the state or federal exemptions protect all of their property.
More detailed information is available on the FAQ page of our website.
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