Bankruptcy

Resolution Services

Resolution Services - A Document Preparation Service

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Chapter 7 Bankruptcy - $199 (maximum charge for Bankruptcy Petition only)

Court fees and costs are always separate from Bankruptcy Petition Preparers fees by law.
The fees for filing a Chapter 7 Bankruptcy is $299.
In addition, there is a costs for mandatory education classes, pre and post Bankruptcy filing (contact us for education referral). Again, this costs is separate from the court filing fees and Bankruptcy Petition Preparation.

Cynthia Severson has dedicated a sizable portion of her practice to Chapter 7 Bankruptcy Petition Preparation. Cynthia understands that individuals, especially in these trying economic times, can overwhelm themselves financially. She knows the personal decision to file Bankruptcy is not an easy one. It is Cynthia's goal to help her clients understand that the true definition of Bankruptcy, "A legal procedure for dealing with debt problems of individuals and businesses; specifically, a case filed under one of the chapters of title 11 of the United States Code (the Bankruptcy Code)." Moreover, "Giving debtors a fresh start is one purpose of the Bankruptcy Code" (www.uscourts.gov/bankruptcycourts/bankruptcybasics/glossary.html#B). That is what Bankruptcy is designed to do, give you a fresh new start. Cynthia will help you get that fresh new start that you deserve.

Resolution Services offers a unique service to their customer's. They work with one of the top Bankruptcy Attorneys in the field, Stephen R. Elias, author of many Nolo's books (www.nolo.com). You will have your legal questions answered directly from a competent and experienced Bankruptcy attorney. This service is offered separate from their Bankruptcy Petition Preparation costs.

Disclaimer: I cannot give you legal advice in your decision to file bankruptcy. I can only prepare your Bankruptcy Petition at your direction. According to the U.S Bankruptcy Court Website, "The role of non-attorney petition preparers is solely to type information on Bankruptcy Forms. Petition preparers are barred by law from providing legal advice - they cannot explain how to answer legal questions or assist in bankruptcy court. Petition preparers must sign all documents they prepare; print their name, address, and social security number on such documents; and furnish copies to the debtor. They cannot sign a document on the debtor's behalf or receive payment from the debtor for court fees." www.cacb.uscourts.gov

Some Information From the The common chapters of the Bankruptcy Code are:

CHAPTER 7 - Chapter 7 refers to a "liquidation" bankruptcy and can be used by an individual to obtain a discharge of many debts without making payments in the future. It may also be used by a business that wishes to liquidate its business assets under the protection of the bankruptcy court.

CHAPTER 11 - Chapter 11 is often called the "reorganization chapter," and it allows a corporation, partnership, or individual to reorganize property and debts without liquidating all assets. The basic goal is for a debtor to retain control of property and present a “Plan of Reorganization” for repaying creditors. If the creditors accept the Plan of Reorganization, and the court approves the plan, a debtor is able to reorganize personal, financial, or business affairs.

CHAPTER 13 -- Chapter 13 refers to reorganization of debts by an individual who has regular income and debts that are below certain statutory limits. A Chapter 13 debtor proposes a “Chapter 13 Plan” which proposes a repayment schedule. The plan essential identifies details for the debtor to retain control of property, keeping up with current debts, and repay at least some of the past due debts.

Source: http://www.cacb.uscourts.gov

Chapter 7, entitled Liquidation, contemplates an orderly, court-supervised procedure by which a trustee takes over the assets of the debtor's estate, reduces them to cash, and makes distributions to creditors, subject to the debtor's right to retain certain exempt property and the rights of secured creditors. Because there is usually little or no nonexempt property in most chapter 7 cases, there may not be an actual liquidation of the debtor's assets. These cases are called "no-asset cases." A creditor holding an unsecured claim will get a distribution from the bankruptcy estate only if the case is an asset case and the creditor files a proof of claim with the bankruptcy court. In most chapter 7 cases, if the debtor is an individual, he or she receives a discharge that releases him or her from personal liability for certain dischargeable debts. The debtor normally receives a discharge just a few months after the petition is filed. Amendments to the Bankruptcy Code enacted in to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 require the application of a "means test" to determine whether individual consumer debtors qualify for relief under chapter 7. If such a debtor's income is in excess of certain thresholds, the debtor may not be eligible for chapter 7 relief.
Source: http://www.cacb.uscourts.gov

For more information on Chapter 7 Bankruptcy (www.cacb.uscourts.gov) click.

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Disclaimer: Cynthia Severson A Bonded LDA #220 Los Angeles County - expiration 5/1/2010
I am not an attorney. I can only provide self help services at your specifice direction.
Copyright . Cynthia Severson. All rights reserved.