The Pope Law Firm
Compassionate Attorneys on YOUR Side.
The Pope Law Firm
5100 Westheimer
Suite 200
Houston, TX 77056
ph: 713-292-2390
fax: 281-657-9693
info
Bankruptcy Questions & Answers
What is bankruptcy?
Bankruptcy refers to the federal law that permits certain entities to obtain permanent relief from many debts and obligations. The intent of the bankruptcy law is to enable debtors to get a "fresh start" in their financial affairs. The bankruptcy law underwent a major revision in 2005. Once a bankruptcy has been concluded, the debtor is discharged from many debts, meaning the debtor is no longer legally obligated to pay those dischargeable debts.
What happens if I file a chapter 7 bankruptcy?
A Chapter 7 bankruptcy proceeding is commenced by filing a petition with the bankruptcy court. The person filing a Chapter 7 is referred to as the "debtor." The debtor is required to disclose to the court all of its property and debts and turn over all nonexempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors. The debtor then receives a discharge of all dischargeable debts.
Who can file a Chapter 7 bankruptcy petition?
Almost any individual, partnership, or corporation may file a chapter 7 bankruptcy petition if he or she resides, has a domicile, a place of business, or property in the United States. If you filed a prior bankruptcy petition and the prior proceeding was dismissed within the last 180 days, you may not be able to file a second petition.
If you pass the "means test" and complete the required credit counseling within six months prior, most people can file a Chapter 7.
Who can file a chapter 13 bankruptcy petition?
Individuals may file chapter 13 bankruptcy petitions if they:
(1) reside, have a domicile, a place of business, or property in the United States;
(2) have a source of regular income; and
(3) on the date the petition is filed owe less than $307,675 in non-contingent, liquidated, unsecured debts and less than $922,975 in non-contingent, liquidated, secured debts.
Corporations and partnerships may not file a chapter 13 bankruptcy petition.
If you filed a prior bankruptcy petition and the prior proceeding was dismissed within the last 180 days, you may not be able to file a second petition.
Will the bankruptcy stop creditors from calling?
Yes. The automatic stay prevents creditors from taking any action to collect debts.
How long after filing will the creditors stop calling?
Once a creditor becomes aware of a filing for bankruptcy protection, it must immediately stop all collection efforts. After you file the bankruptcy petition, the court mails a notice to all the creditors listed in your bankruptcy schedules. This usually takes a couple of weeks. Creditors will also stop calling if you inform them that you filed the bankruptcy petition, and supply them with your case number. In urgent cases, we will contact the creditor immediately upon filing the bankruptcy petition, especially if a lawsuit is pending. If a creditor continues to use collection tactics once informed of the bankruptcy it may be liable for court sanctions and attorney fees for this conduct.
Who notifies the creditors?
After the bankruptcy petition is filed, the court mails a notice to all the creditors listed in the schedules. This usually takes a couple of weeks. However, we will provide immediate notice to any creditor you designate as one needing immediate attention.
Who deals with my creditors during the bankruptcy?
We will deal with your creditors once we undertake your representation.
Will my employer or landlord find out about my bankruptcy?
Bankruptcy petitions are public records. However, under normal circumstances, unless your employer or landlord is a creditor, it will not know you filed a bankruptcy petition. If your employer or landlord is a creditor it must be listed as a creditor on the schedules and will receive notice of the bankruptcy proceeding.
Can my employer fire me for filing bankruptcy?
No. The law prohibits government units and private employers from discriminating against you because you filed a bankruptcy petition or because you failed to pay a dischargeable debt.
Can I go to jail if I file bankruptcy or don't pay my debts?
No. There are no debtor's prisons in the United States.
Does the spouse of a married person also have to file bankruptcy?
No. In some cases where only one spouse has debts, or one spouse has debts that are not dischargeable, it might be advisable to have only one spouse file.
Will I have to fill out forms?
Filing bankruptcy means filling out forms. We will ask you to fill out forms to provide us with the information needed to prepare the bankruptcy petition. We will use the information you provide to complete the official forms, using a specialized computer program that complies with all the Court's requirements.
Will I be required to go to court?
About 30 to 40 days after filing the bankruptcy petition, you will have to attend a hearing presided over by a bankruptcy trustee. This hearing is called the First Meeting of Creditors. The trustee is not a judge, but an individual appointed by the United States Trustee to oversee bankruptcy cases. At the First Meeting of Creditors the trustee will ask you questions under oath regarding the content of your bankruptcy papers, your assets, debts and other matters. Creditors will also be permitted to ask you questions, although in the majority of cases creditors do not ask questions at the First Meeting of Creditors. If we are retained to represent you, one of our attorneys will appear at the First Meeting of Creditors with you.
After the initial meeting you normally do not need to return to court. However, if a creditor or the trustee files a motion or an adversary action, you may have to appear in court.
Are there alternatives to bankruptcy?
Yes. Sometimes payment plans can be negotiated with creditors. Obtaining loan extensions, compromises and workout agreements require negotiation skills and experience. These alternatives may alert your creditors to the existence of nonexempt property that the creditor could reach and can involve considerable expense. You also have the option of doing nothing. In any event you should seek professional advise in dealing with most of these alternatives.
What should I do to prepare for filing bankruptcy?
First, you should consult with an attorney. The Pope Law Firm can help you plan for the bankruptcy, decide when to file a bankruptcy petition, or even avoid filing for bankruptcy. A few specific items are worth mentioning.
1. If you intend to file bankruptcy you should stop using your credit cards. If you borrow money with the specific intent of discharging the debt in bankruptcy instead of paying it back, the debt is not dischargeable. In addition, (a) certain luxury purchases within 60 days of the bankruptcy filing are presumed non-dischargeable; (b) some cash advances taken within 60 days of the bankruptcy filing are presumed non-dischargeable; and, (c) debts involving materially false financial statements are non-dischargeable under certain circumstances.
2. Don't transfer your assets to friends, family and business associates to protect the assets from your creditors. The transfer may be considered a fraudulent conveyance. If it is, you may lose both the property and your right to a bankruptcy discharge.
3. Don't destroy any business or financial records. You can lose your right to a bankruptcy discharge as a result.
4. Carefully choose the creditors you pay. Some creditors, such as landlords, secured creditors, and some utilities should be paid under most circumstances. If you pay a credit card debt that eventually will be discharged, you may be throwing money away. We can advise you on what debts should and should not be paid while you prepare to file a bankruptcy petition.
Can I file a bankruptcy for my debts, but not include my assets?
No.
Do I have to disclose all of my assets?
Yes. If you knowingly and fraudulently conceal an asset from the court you have committed a felony and can be fined up to $5,000, imprisoned for up to five years, or both. In addition, the court can deny you your discharge, or dismiss or convert your bankruptcy proceeding.
Contact us today!
We welcome your questions and queries.
bankruptcy law houston, texas bankruptcy lawyer, bankruptcy attorney in houston texas, houston bankruptcy attorney, bankruptcy lawyer in texas, bankruptcy law, texas consumer bankruptcy lawyer, texas consumer bankruptcy attorney, houston attorney, houston lawyer, creditor harassment, foreclosure, credit card debt, repossession, chapter 7, liquidation, debt, debt collection, chapter 13 bankruptcy, debt consolidation, law firm, chapter 7, debtor, bankruptcy trustee, discharge, chapter 13, creditors, houston texas attorney, houston texas lawyer
Houston Bankruptcy Lawyer,Houston Bankruptcy Attorney,Houston Texas Bankruptcy Lawyer,Houston Texas Bankruptcy Attorney
bankruptcy lawyer in houston, houston family law attorney, houston divorce attorney, law firm, texas divorce, discounted attorney fees, professional legal services, debt relief agency, debt consolidation, consumer bankruptcy
foreclosure,home,financial,payments,house,problem,money,able,might,lender,interest,make,possible,foreclosure home,alternative,mortgage,mortgage payments,another alternative,ward foreclosure,lender explain problem
Houston, Texas,Debt Defense, Debt Lawsuit,Fair Debt Collection,fdcpa,Collection,Debt Collection,credit report,fcra,Fair Credit Reporting Act,tcpa,telemarketing,law,lawyer,attorney,door to door sales,forclosure,subprime lending,foreclosure, repossession,auto,car,autofraud, auto fraud,auto law,lemon law,consumer, consumer law,tila,truth in lending,dtpa,deceptive trade practice,udap,fraud,insurance bad faith,junk faxes,class action,arbitration, arbitration,law,debt buyer,consumer help,home repair law,bankruptcy,reorganization,chapter 7,chapter13,lawsuit,collector,debt collector,predatory lending,credit reprot errors,consumer lawyer,consumer attorney,equal credit opprotunity,ecoa,consumer credit,consumer credit law,consumer law,consumer law office,deceptive trade practices act,texas debt collection,texas debt collection,hosuton fair debt collection,houston consumer lawyer,houstin consumer attorney,houston fdcpa attorney,houston fair debt collection attorney,houston debt defense,debt defense houston,debt collection law,debt collection defense,houston debt defense,houston debt defense,debt defense houston,fcra lawyer, fcra attorney,houston fcra attorney,houston fcra lawyer,houston fdcpa attorney,houston fdcpa lawyer,fdcpa attorney houston,fdcpa lawyer,fdcpa attorney houston,fdcpa lawyer houston, houston fair debt collection attorneu,fair debt collection houston,houston fair debt collection,houston fair debt collection attorney,houston fair debt collection lawyer,fair debt collection attorney houston,fair debt collection lawyer houston,houston fair debt collection law,fair debt collection houston,debt attorney houston,debt lawyer houston,houston debt collection lawyer,debt collection lawyer houston,debt collection attorney houston,houston debt collection attorney,houston debt collection law,debt colection law houston,fcra lawyer houston,fcra attorney houston,houston fcra attorney,houston fcra lawyer,houston fair credit reporting act attorney,houston fair credit reporting act attorney,fiar credit reporting act attorney houston,fair credit reproting act attorney houston,houston credit report attorney,houston credit reprot lawyer,credit report attorrney houston,credit report lawyer houston,credit reprort law,credit reporting law,houston credit reproting attorney,houston credit reporting lawyer,houston junk fax attorney,houston junk fax lawyer,junk fax attorneu houston,junk fax lawyer houston,tcpa lawyer houston,tcpa attorney houston,houston tcpa attorney,houston tcpa lawyer,houston dtpa attorney, houston dtpa law,houston dtpa lawyer,dtpa atorney houston,dtpa lawyer houston,houston deceptive trade practice attorney,houston deceptive trade practices lawyer,deceptive trade practices lawyer houston,deceptive trade practices attorney attorney houston,houeton consumer law,consumer law houston,houston consumer attrorney,houston consumer lawyer,consumer attorney houston,consumer lawyer houston,houston consumer class action attorney,houston consumer
bankruptcy law katy, texas bankruptcy lawyer, bankruptcy attorney in katy texas, katy bankruptcy attorney, bankruptcy lawyer in texas, bankruptcy law, texas consumer bankruptcy lawyer, texas consumer bankruptcy attorney, katy attorney, katy lawyer, creditor harassment, foreclosure, credit card debt, repossession, chapter 7, liquidation, debt, debt collection, chapter 13 bankruptcy, debt consolidation, law firm, chapter 7, debtor, bankruptcy trustee, discharge, chapter 13, creditors, katy texas attorney, katy texas lawyer
Katy Bankruptcy Lawyer,Katy Bankruptcy Attorney,Katy Texas Bankruptcy Lawyer,Katy Texas Bankruptcy Attorney
bankruptcy lawyer in katy, katy family law attorney, katy divorce attorney, law firm, texas divorce, discounted attorney fees, professional legal services, debt relief agency, debt consolidation, consumer bankruptcy
foreclosure,home,financial,payments,house,problem,money,able,might,lender,interest,make,possible,foreclosure home,alternative,mortgage,mortgage payments,another alternative,ward foreclosure,lender explain problem
Katy, Texas,Debt Defense, Debt Lawsuit,Fair Debt Collection,fdcpa,Collection,Debt Collection,credit report,fcra,Fair Credit Reproting Act,tcpa,telemarketing,law,lawyer,attorney,door to door sales,forclosure,subprime lending,foreclosure, repossession,auto,car,autofraud, auto fraud,auto law,lemon law,consumer, consumer law,tila,truth in lending,dtpa,deceptive trade practice,udap,fraud,insurance bad faith,junk faxes,class action,arbitration, arbitration,law,debt buyer,consumer help,home repair law,bankruptcy,reorganization,chapter 7,chapter13,lawsuit,collector,debt collector,predatory lending,credit reprot errors,consumer lawyer,consumer attorney,equal credit opprotunity,ecoa,consumer credit,consumer credit law,consumer law,consumer law office,deceptive trade practices act,texas debt collection,texas debt collection,hosuton fair debt collection,katy consumer lawyer,houstin consumer attorney,katy fdcpa attorney,katy fair debt collection attorney,katy debt defense,debt defense katy,debt collection law,debt collection defense,katy debt defense,katy debt defense,debt defense katy,fcra lawyer, fcra attorney,katy fcra attorney,katy fcra lawyer,katy fdcpa attorney,katy fdcpa lawyer,fdcpa attorney katy,fdcpa lawyer,fdcpa attorney katy,fdcpa lawyer katy, katy fair debt collection attorneu,fair debt collection katy,katy fair debt collection,katy fair debt collection attorney,katy fair debt collection lawyer,fair debt collection attorney katy,fair debt collection lawyer katy,katy fair debt collection law,fair debt collection katy,debt attorney katy,debt lawyer katy,katy debt collection lawyer,debt collection lawyer katy,debt collection attorney katy,katy debt collection attorney,katy debt collection law,debt colection law katy,fcra lawyer katy,fcra attorney katy,katy fcra attorney,katy fcra lawyer,katy fair credit reporting act attorney,katy fair credit reporting act attorney,fiar credit reporting act attorney katy,fair credit reproting act attorney katy,katy credit report attorney,katy credit reprot lawyer,credit report attorrney katy,credit report lawyer katy,credit reprort law,credit reporting law,katy credit reproting attorney,katy credit reporting lawyer,katy junk fax attorney,katy junk fax lawyer,junk fax attorneu katy,junk fax lawyer katy,tcpa lawyer katy,tcpa attorney katy,katy tcpa attorney,katy tcpa lawyer,katy dtpa attorney, katy dtpa law,katy dtpa lawyer,dtpa atorney katy,dtpa lawyer katy,katy deceptive trade practice attorney,katy deceptive trade practices lawyer,deceptive trade practices lawyer katy,deceptive trade practices attorney attorney katy,houeton consumer law,consumer law katy,katy consumer attrorney,katy consumer lawyer,consumer attorney katy,consumer lawyer katy,katy consumer class action attorney,katy consumer
Foreclosure, Repo, Debt, Relief, Child Custody, Child Support, Debt Relief, Will, Real Estate, Quiet Title, Adverse Possession, Save my Home, Keep my Car, foreclosure prevention act, foreclosure prevention,LLC, Partnership, incorporate your business, help, need help, legal, legal help, lawyer, need a lawyer, bankruptcy lawyer in houston, lawyer in katy, lawyer in katy, attorney in lawyer, attorney in katy, Bankruptcy, Attorney, Stop Foreclosure, Stop Repo, Home, Car, Attorney, Lawyer, Real Estate, Consumer, DTPA, FDCPA, Contract, Bankruptcy attorney in Houston, Bankruptcy Attorney in Sugarland, Bankruptcy Attorney in Katy,The Pope Law Firm
The Pope Law Firm
5100 Westheimer
Suite 200
Houston, TX 77056
ph: 713-292-2390
fax: 281-657-9693
info
