LegalJiffy™.com | Chapter 7 Bankruptcy, Straight Bankruptcy or a Liquidation

Here's how it works:

1) Sign up and enter your personal information and pay for our service.

2) Attend a mandatory credit counseling class at www.startfreshtoday.com. Once completed, email us your credit counseling certificate.

3) Email us your pay stubs for the last 6 months.

4) We will email you a link where you can log on and complete our easy to use bankruptcy intake on your own time and convenience.

5) Once completed, we will prepare your bankruptcy petition and email you the paperwork with full instructions on how to file it with the bankruptcy court.

+ Do I qualify for a chapter 7 Bankruptcy?

In order to qualify for a chapter 7 bankruptcy, you must pass a “mean's test.” Put simply, if your family gross income is below your State's median income, then you qualify. For example, in California a single person qualifies for a chapter 7 bankruptcy if her income is below $49,182.00. You can see if you qualify, by going here. You can also use this free mean's test calculator to see if you qualify for a chapter 7 bankruptcy. (http://www.legalconsumer.com/bankruptcy/means-test/)

+ Do I have to list all my debts?

Yes. You must list all of your debts even if they are non-dischargeable or secured. Omitting a debt may prevent it from being discharged in bankruptcy. You can always reaffirm the debt with the creditor and choose to pay it after the bankruptcy.

+ Will I lose my house"?

If there is no equity in the house and if you are current on the payment, you can choose to keep the house and continue the payments. If there is equity in your house, determine if your State’s exemption will protect the equity. If it does, then you may keep the house. If you have equity over and above the exemption, the trustee may ask you to turn over the surplus equity to her.

+ Will my spouse have to file bankruptcy with me?

No. You may file bankruptcy without your spouse. However, if you and your spouse have joint debts, the creditor may pursue your spouse for the debt.

+ Can I keep my car?

The answer depends on whether there is equity in your car. If there is no equity in the car, the trustee will not take your car. The creditor will not take your car. You can chose to reaffirm the debt with the creditor or in some jurisdictions just continue making payments without reaffirming the debt.

+ Will I lose my retirement account?

No, most retirement accounts are not affected by your bankruptcy. Also, ERISA qualified pension plans are completely unaffected by a bankruptcy.

+ Can I discharge my student loans?

No. Under bankruptcy law student loans are not dischargeable unless you can prove to the court that repaying your student loan will create an undue burden on you and your family.

+ I filed a bankruptcy before, can I file again?

If you filed a chapter 7 bankruptcy and it has been 8 years since you got your discharge, you can file a new case now. Any debt that was not discharged before in your previous case cannot be discharged in the new case.

+ Can I rebuild my credit after a bankruptcy?

Of course. While a bankruptcy stays on your credit report for 10 years and while it will be difficult to obtain new credit after a bankruptcy, you will begin to build new credit within a couple years after a bankruptcy.

Here's how it works:

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