What is an ERISA Qualified Plan and Why Do I Need it for My Bankruptcy Case?

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What Happens After My Free Bankruptcy Consultation?

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After your free bankruptcy consultation, you may choose to sign a contract.  We will thoroughly explain each section of the contract, answer any other questions that you may have and allow you as much time as necessary to review our work agreement.  At this time we can set you up on an easy payment plan, which allows you to give us an estimate of a time frame of when you expect to file and allows you to make payments toward the attorney fees.

We will then give you your paperwork, along with an example of the paperwork as a quick reference guide.  We will explain in detail the documents needed to file, and the process of turning them in.  Lastly, you’ll get an email contact of someone in the office should you have any further questions.  No matter what, we want you to be as informed as possible and we want this process to be smooth and efficient for you!

In other words, you choose what the next steps are after your consultation.  You may choose to file bankruptcy with our law firm or you may wish to think about some of your options.  Again, we are here to answer questions as they come about.  We hope we get the opportunity to earn your business and we look forward to working with you. Contact us to get your fresh financial start today!

Important Issues When Completing Your Bankruptcy Paperwork

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The foundation of your bankruptcy starts with your paperwork.  We find it easier to gather all of your documents and then start to fill out your workbook.  When gathering all of your documents, make sure that they are all there.  We would rather receive too much information than not enough.  The documents themselves determine quite a few things in your bankruptcy- your pay determines whether you qualify for a Chapter 7 bankruptcy or not;  or how much you can pay back in a Chapter 13 bankruptcy.  Papers from the purchase of vehicles show whether or not to pay the car back in full or at the value of the vehicle.  These all have an impact on your bankruptcy plan.  Sometimes one piece of paper can save you several hundred dollars in your Chapter 13 plan  (well worth the effort of gathering them!).

Make sure that you list anything and everything that is in your possession, especially if there is a papertrail to it; we will try to protect everything that you have.  Leaving things out only hurts you in the future.  You definitely do not want to be called to court because you were trying to keep a possession hidden.   List all creditors’ account numbers and addresses; if they cannot locate your account, it may not be taken care of.  Above all, just make sure to fill out the workbook completely; if it is not filled out, we will ask for the answer either way,  it makes it less work for you if it is done correctly in the first place.

What is the Means Test in Bankruptcy?

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With major changes in the bankruptcy laws in 2005, you are required to undergo a “means test.” Simply put, your household’s income for the six months prior to filing bankruptcy (your income, your spouse’s income and any contribution to your household from others) is annualized and compared to the Census Bureau’s median income for the same size household within your state.

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