Practice AreasBankruptcy Filing chapter 7 and chapter 13 - discharge of personal debt

Rachel Kaylie knows that in good or bad times, people experience economic hardship. Divorce, medical care, unemployment, low wages, the loss of a business, and family problems cause financial hardship. Bankruptcy is a legal process to give people a fresh start. No one is immune from life’s unexpected twists and turns. Therefore, bankruptcy is available to everyone.

Personal bankruptcy includes Chapter 7 liquidation or Chapter 13 with a repayment plan. Once the process is complete, the filer is released from personal liability for most debts. Rachel Kaylie is an experienced attorney who helps her clients throughout the entire process. Rachel Kaylie treats her clients with respect as she handles each case.

Qualifications for Bankruptcy

Rachel Kaylie will assess your situation to see if you are qualified. You need to demonstrate that you are unable to repay your debts. If your income is less than the median income for your state, you probably qualify. Otherwise, you may need to show why your disposable income is not enough to repay your debts.

Filing a Petition for Bankruptcy

First you will need to file a petition. Rachel Kaylie will assist you with filing the petition and filling out the various forms. Ms. Kaylie will also advise you about problems that could affect your petition. You cannot hide assets. Also, you should discuss your financial history, including any previous bankruptcy, your assets, mortgages and other secured debt.

The Process

United States bankruptcy judges have the authority to make binding decisions in all cases. However, most aspects of the process are done outside of the court. For example, an appointed trustee carries out the administrative duties of Chapter 7 and Chapter 13. The debtor actually has very little interaction with the judge, and most Chapter 7 clients don’t even set foot in court unless creditors object. Chapter 13 debtors typically appear in court just once, at a hearing to confirm the repayment plan. The trustee holds an informal meeting of creditors.

Discharge of Debt

A bankruptcy discharge releases the debtor from personal liability for certain types of debts. The debtor is no longer legally required to pay any debts that are discharged. The discharge is a permanent order prohibiting the creditors of the debtor from taking any form of collection action on discharged debts, including legal action and communications with the debtor.