Important information about bankruptcy and alternatives to bankruptcy 11 U.S.C. § 527(b)

Important information about bankruptcy assistance services from an attorney or bankruptcy petition preparer

If you decide to seek bankruptcy relief, you can represent yourself, you can hire an attorney to represent you, or you can get help in some localities from a bank­ruptcy petition preparer who is not an attorney.

The law requires an attorney or bankruptcy petition preparer to give you a written contract specifying what the attorney or bankruptcy petition preparer will do for you and how much it will cost.

1. Ask to see the contract before you hire anyone. ‘‘‘The following information helps you understand what must be done in a routine bankruptcy case to help you evaluate how much service you need. Although bankruptcy can be complex, many cases are routine.
2. Before filing a bankruptcy case, either you or your attorney should analyze your eligibility for different forms of debt relief available under the Bankruptcy Code and which form of relief is most likely to be beneficial for you. Be sure you understand the relief you can obtain and its limitations.
3. To file a bankruptcy case, documents called a Petition, Schedules and State­ment of Financial Affairs, as well as in some cases a Statement of Intention need to be prepared correctly and filed with the bankruptcy court. You will have to pay a filing fee to the bankruptcy court. Once your case starts, you will have to attend the required first meeting of creditors where you may be questioned by a court official called a ‘trustee’ and by creditors. ‘
4. If you choose to file a chapter 7 case, you may be asked by a creditor to reaf­firm a debt. You may want help deciding whether to do so. A creditor is not per­mitted to coerce you into reaffirming your debts.
5. If you choose to file a chapter 13 case in which you repay your creditors what you can afford over 3 to 5 years, you may also want help with preparing your chapter 13 plan and with the confirmation hearing on your plan which will be be­fore a bankruptcy judge.
6. If you select another type of relief under the Bankruptcy Code other than chap­ter 7 or chapter 13, you will want to find out what should be done from someone familiar with that type of relief.
7. Your bankruptcy case may also involve litigation. You are generally permitted to represent yourself in litigation in bankruptcy court, but only attorneys, not bankruptcy petition preparers, can give you legal advice.”

Contact a Bankruptcy Lawyer in Oklahoma City

With Michael J. Rose PC, you get a lawyer who is committed to providing high-quality counsel and representation in the area of Bankruptcy.  We can help you find a solution to meet your needs.

To schedule a free consultation, contact us or call (405) 605-3757.

From our law office in Oklahoma City, we serve clients in Lawton Enid, Norman, Edmond, Shawnee, Chickasha, Yukon, El Reno, Midwest City, Kingfisher, and Canadian County, Cleveland County, and Logan County.