Gary R. Garretson
James M. Durkee
Attorneys at Law
1802 N. Division St., Suite 201, Morris, Illinois
(815) 941-2825
Fax: (815) 941-2840
E-Mail: ggarrets@hotmail.com.
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Gary R. Garretson James M. Durkee Attorneys at Law 1802 N. Division St., Suite 201, Morris, Illinois (815) 941-2825 Fax: (815) 941-2840 E-Mail: ggarrets@hotmail.com.
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Frequently Asked Questions Who can file Chapter 7 bankruptcy? You must reside or have a domicile, a place of business, or property in the United States or a municipality. You must not have been granted a Chapter 7 discharge or completed a Chapter 13 plan within the last 6 years . You must not have had a bankruptcy filing dismissed for cause within the last 180 days. It must not be a "substantial abuse" of bankruptcy to grant the debtor relief. Last, it would not be fundamentally unfair to grant the debtor relief under Chapter 7 or Chapter 13. Generally speaking, if after you pay the monthly expenses for necessities there is not enough money to pay the remaining monthly debts, then granting a discharge would not be an abuse of Chapter 7. Should I file Bankruptcy? Are you behind on your bills, are bill collectors calling? Is your paycheck isn't covering all of your bills? If your answer is yes to any of these question you should seriously consider filing for Bankruptcy as soon as possible. How do I file? Call us for at the above number. We will schedule a free consultation to discuss your case and go over your options. We will look at your debts and your assets. If Bankruptcy is not a good option for you we will tell you so directly and without hesitation. There is no obligation to pursue a bankruptcy if you are not interested. How much will my bankruptcy cost? The fee for a Chapter 7 Bankruptcy is generally $1500.00 plus $299.00 filing fees, unless there are special circumstances. Fees can be paid in installments with a $500.00 initial retainer due at the start of the case. The balance is due on or before the filing of the petition. All fees are reviewed by a bankruptcy judge to ensure they are fair and reasonable. The fee for a Chapter 13 varies, but generally the fee is $3,000.00 plus $274.00 for filing fees and administrative costs. As with Chapter 7 bankruptcies fees for Chapter 13 filings can be paid in installments. All fees are subject to change without notice based on the standards set by the Bankruptcy Court. Will I lose my house, car or personal property? The answer in most cases is no. Bankruptcy is designed to protect your belongings from creditors. Bankruptcy law grants your assets certain exemptions that allows to keep your property within certain guidelines. How do I get bill collectors to stop calling? As soon as you retain the Law Offices of Gary R. Garretson, we become your legal representative. You can forward all calls to us and we will inform them of the status of your case on your behalf. Once your bankruptcy petition is filed, your creditors are immediately barred by law from contacting or making any attempt to collect your debt to them. Will my employer find out that I'm filing for bankruptcy? Generally, no. No one from our office will contact your employer unless requested by you. Creditors are barred from calling you or your employer once the case has been filed with the court. How long will bankruptcy be on my credit report? Your credit report will reflect a bankruptcy for seven to ten years depending on which one you file. How long will it take to rebuild my credit? Can I rent an apartment or buy a house? Generally, you should be able to re-build your credit immediately after bankruptcy. You will still be able rent an apartment after filing for bankruptcy. Often in as little as two years you can to qualify for a mortgage for the purchase of a new home, if you carefully manage your finances and do not incur unnecessary new indebtedness. Will I have to go to court? Under usual circumstances no. However, you are required to attend one
informal meeting accompanied by an attorney from our office. Your attorney will
generally appear at any other court appearance for you. Your spouse does not have to file bankruptcy with you. If your debts are separate, your spouse is not liable for your debts. If your spouse is a co-signer on any of your debts or the debts are for medical bills or utility bills for services provided to your family, filing a joint bankruptcy is probably the best solution. What should I do if a mortgage foreclosure has been filed or is about to be filed against me? Filing a Chapter 13 will stop your mortgage company from pursuing foreclosure.
Chapter 13 provides for the filing of plan for paying your mortgage and other debts over time in
a series of affordable monthly payments. Even if a judgment has already been taken against you, a bankruptcy will stop creditors from
collecting on the judgment. Generally one week to 10 days after you pay the initial
retainer. If your case requires immediate attention we will do everything
we can to file your petition in a prompt and efficient manner.
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Garretson Law Office Call Today (815) 941-2825 or E-Mail Us at ggarrets@hotmail.com
Evenings and Saturday Hours Available by Appointment Our Attorneys are Admitted to Practice by: Illinois Supreme Court; United States District Court, Central District of Illinois, Northern District of Illinois (Member Trial Bar); and United States Supreme Court
Disclaimer: The information provided here is to be used as general information only and is not intended to suffice as legal advice upon which you can rely for your particular situation. In the event you have specific questions, please call us or another qualified attorney.
Author: Gary R. Garretson.
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