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CHAPTER SEVEN BANKRUPTCIES
Court Fees: The Bankruptcy Court Filing fee is $335, unless you qualify for a low income fee waiver.
Legal Fees: Our legal fees are set for each individual case. When you call us, Sarah will discuss the facts of your case with you and give you an estimate of her legal fees for filing a Ch 7 Bankruptcy. Call us at 207-762-2244. There is no charge for calling us.
NOTICE: We cannot and DO NOT represent you unless we have met with you in person and sign a retainer agreement.
What to Bring to Your Bankruptcy Appointment:
1. ____ A PRE-BANKRUPTCY SCREENING Certificate. [see enclosed card(s)]
2. ___ Your CREDIT REPORT is free using the enclosed mail-in form, or
On-line at annualcreditreport.com (Credit Scores are not needed and cost a fee)
3. ____ Fill out the attached CHECKLIST. Please take the time to gather ALL
the information requested.
4. ____ A copy of your most Recent Bill from Each Creditor.
3. ____ Collection Agency Letters
4. ____ YOUR LAST 2 years FEDERAL & STATE TAX RETURNS.
5. ____ Municipal REAL ESTATE TAX BILL showing your home’s value
6. ____ Your most recent 6 MONTHS OF WAGE & INCOME PAY STUBS.
7. ____ Your most RECENT BANK STATEMENTS
8. ____ Your Home and Car Insurance “Declarations” page.
9. ____ The date when you last used your credit cards.
10. _____ A copy of any Divorce Judgment If it assigns any debt to you.
11. ____ Our legal fees and the court fee.
We cannot file a bankruptcy case before full payment. However, if you decide that you do not
want us to file bankruptcy for you after we meet we charge a consultation fee of $150.
if you are even thinking of filing bankruptcy:
ï Do NOT use your credit cards or acquire more debt.
ï Do NOT make big payments on bills before getting legal advice.
ï Do NOT sell anything before getting legal advice.
ï Do NOT give away anything before getting legal advice.
ï Do NOT cash out any accounts or retirement before getting legal advice.
ï Do NOT get a re-mortgage your house to pay credit card debt before getting
NOTE: generally student loans, child & spousal support are non-dischargeable in bankruptcy. Some taxes may be dischargeable.
Seek legal advice about your particular case.
HELPFUL BANKRUPTCY LINKS
- Link to the Maine EXEMPT PROPERTY Statute
To that end, certain property is protected or “exempt” from collection unless you have waived an exemption by placing otherwise exempt property up as collateral for a secured loan. The list of exempt property is located in the Maine Statutes at this EXEMPT PROPERTY LINK. http://www.mainelegislature.org/legis/statutes/14/title14sec4422.html
You should seek legal advice in interpreting this statute. It is provided here for educational purposes only.
- Link to the MAINE BANKRUPTCY COURT Web Site:
- Link to Wikipedia article on
Note: This link provides an historical and informal perspective on bankruptcy relief in the United States. It is not intended as legal advice.
- LINK to the Maine Bureau of CONSUMER CREDIT PROTECTION
The Bureau of Consumer Credit Protection oversees many aspects of the consumer finance industry, including non-bank mortgage lenders, debt collectors, loan brokers, retail creditors, money transmitters, credit reporting agencies and non-bank ATMs. The office administers state credit-related statutes and protects consumers by conducting compliance examinations, responding to consumer complaints, issuing licenses and providing consumer education and outreach.
Seek Legal Advice or call the Bureau of Consumer Credit Protection BEFORE you sign up with an out-of-state Debt Consolidation company. Many such companies are not reputable and end up disappearing or filing bankruptcy themselves.
- LINK to the CONSUMER PAGE of Pine Tree Legal Assistance
STATEMENT OF INFORMATION ABOUT BANKRUPTCY RELIEF
Pursuant to the bankruptcy Reform Act of 1994 the Office of the United States Trustee, United State Department of Justice has prepared this information sheet to help you understand some of the possible consequences of filing a bankruptcy petition under Chapter 7 of the
Bankruptcy Code. This information is intended to make you aware of
(1) the potential consequences of seeking a discharge in bankruptcy, including the effects on credit history;
(2) the effect of receiving a discharge of debts,
(3) the effect of reaffirming a debt; and
(4) your ability to file a petition under a different chapter of the Bankruptcy Code.
There are many other provisions of the Bankruptcy order that may affect your situation. This information sheet contains only general principles of law and is not a substitute for legal advice. If you have questions or need further information as to how the bankruptcy laws apply to your specific case, you should consult with your lawyer.
WHAT IS A DlSCHARGE?
The filing of a Chapter 7 petition is designed to result in a discharge of most of the debts you listed on your bankruptcy schedules. A discharge is a court order that says you do not have to repay your debts, but there are a number of exceptions. Debts which may not be discharged in your chapter 7 case include, for example, most taxes, child support, alimony, and student loans; court-ordered fines and restitution; debts obtained through fraud or deception; and personal injury debts caused by driving while intoxicated or taking drugs. Your discharge may be denied entirely if you for example, destroy or conceal property; destroy, conceal or falsify records; or make a false oath. Creditors cannot ask you to pay any debts which have been discharged. You can only receive a Chapter 7 discharge once every six-years.
WHAT ARE THE POTENTIAL EFFECTS OF A DISCHARGE?
The fact that you filed bankruptcy can appear on your credit report for as long as 10 years. Thus, filing a bankruptcy petition may affect your ability to obtain credit in the future. Also, you may not be excused from repaying any debts that were not listed on your bankruptcy schedules or that you incurred after you filed bankruptcy.
WHAT ARE THE EFFECTS OF REAFFRRMING A DEBT?
After you file your petition, a creditor may ask you to reaffirm a certain debt or you may seek to do so on your own. Reaffirming a debt means that you sign and file with the court a legally enforceable document, which states that you promise to repay all or a portion of the debt that may otherwise have been discharged in your bankruptcy case. Reaffirmation agreements must generally be filed with the court within 60 days after the first meeting of creditors,
Reaffirmation agreements are strictly voluntary. They are not required by the Bankruptcy Code or other state or federal law. You can voluntarily repay any debt instead of signing a reaffirmation agreement, but there may be valid reasons for wanting to reaffirm a particular debt.
Reaffirmation agreements must not impose an undue burden on you or your dependents and must be in your best interest. If you decide to sign a reaffirmation agreement, you may cancel it at any time before the court issues your discharge order or within sixty (60) days after the
reaffirmation agreement was filed with the court, whichever is later. If you reaffirm a debt and fail to make the payments required in the reaffirmation agreement, the creditor can take action against you to recover any property that was given as security for the loan and you may remain personally liable for any remaining debt.
OTHER BANKRUPTCY OPTIONS
You have a choice in deciding what chapter of the Bankruptcy Code will best suit your needs. Even if you have already filed for relief under chapter 7, you may be eligible to convert your case to a different chapter.
AGAIN, PLEASE SPEAK TO A LAWYER IF YOU NEED