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Law after 10/17/2005 |
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Law after 10/17/2005 |
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It is a myth that you can not file bankruptcy after 10/16/2005. You most certainly can. Unfortunately it will cost more to do it than it did before. Primarily this is because: 1. You are required to attend “credit counseling” and “debtor education class” which you must pay for “unless you can not afford it.” Congress has not defined when payment by you will be excused. This is an issue that probably will require litigation; 2. You must provide me with a lot more documents than previously required. I must then in turn file them with the trustee and or the court. Please see the FAQ page of this web page to see what I need; and 3. The new law has some very complicated calculations called “means testing” which I have to do to determine your eligibility. Where you ultimately fall in this “means test” will in part determine my fee. As always, there is no charge for the initial consultation. Keep and make your first appointment. This will help you decide what is best for you.  Here are more of the crazy "urban myths" about the new law: You will not be able to stop a foreclosure under the new law. You will not be able to keep your cars under the new law. The Court will take all of your property if you file. Someone from the court will come to your home and take photographs. You will have to submit to a lie detector test. You have to pass a test before you can file. You must pass a test after you file. All of your tax refund must be paid into the plan. You will not be allowed to file tax returns while you are in the plan. You will not be able to own a car if you file. You can not discharge medical bills. ALL OF THESE STATEMENTS ARE FALSE. Please do not believe them. | Return Home | Our Services | Great Links | FAQ Page | Contact Us | Recent Developments | New Law after 10/17/2005 | |
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