topic Re: BK7 Journey in Bankruptcy

BK7 Journey

Anonymous — Thu, 05 Mar 2020 00:38:40 GMT

So I needed $2K for a BK attorney which I didn’t have so I got creative. I closed all of my secured cards and got my deposits back totaling $700 and swallowed my pride and asked a close family member for the rest. To my surprise they said yes. They had actually filed themselves before so they fully understood. So now I just need to narrow down which 1 of the 7 lawyers to go with to file my BK7.

Re: BK7 Journey

Anonymous — Thu, 05 Mar 2020 00:50:59 GMT

Ahhh I'm so proud of you for approaching a loved one for help, and happy you received it. I was surprised that the few people I told about my filing had either filed themselves or wish they had the courage to do it themselves. There is so much unnecessary shame surrounding bankruptcy and it shouldn't be that way.

Good job making a choice you feel solid about and getting it rolling!

Re: BK7 Journey

Anonymous — Thu, 05 Mar 2020 16:06:07 GMT

Today has been another hectic day in the search for the right lawyer. I’m being so picky because for one this is my life in their hands and two because it’s $2K I’ll be handing over. I’ve narrowed it down to 4 lawyers now and I’m just waiting on a call back from one of them to see if they would even take my case. Hopefully I’ll have a decision by end of day.

Re: BK7 Journey

donkort — Thu, 05 Mar 2020 16:17:11 GMT

I know it's a difficult decision. I would pick the lawyer who is able to save as much of your assets as possible, yet make it legally a Chapter 7 bankruptcy. I feel like reading up what's "exempt" in bankruptcies might be beneficial.

Re: BK7 Journey

Anonymous — Thu, 05 Mar 2020 16:24:00 GMT

@donkort wrote:
I know it's a difficult decision. I would pick the lawyer who is able to save as much of your assets as possible, yet make it legally a Chapter 7 bankruptcy. I feel like reading up what's "exempt" in bankruptcies might be beneficial.

Well the good thing I have “Zero Assets”. So should I just focus on the cheapest lawyer?

Re: BK7 Journey

donkort — Thu, 05 Mar 2020 16:33:59 GMT

That's a good question. I would pick the lawyer you feel best about.

If I were in your situation, I might pick the cheapest----but that actually might not be the best idea. You want a lawyer who you feel would be on your side.

Re: BK7 Journey

Anonymous — Thu, 05 Mar 2020 18:08:34 GMT

Well I finally picked an attorney. This guy has been great and I’m not even his client yet. He has great reviews online and over 20 years of experience. He even gave me a veterans discount. I will be retaining him on Tuesday.

Re: BK7 Journey

Azuieldrago — Thu, 05 Mar 2020 19:42:54 GMT

I got lucky. The only lawyer I looked at was it. It may seem like a lot, but when you can save spending a ton of money. I spent $2k as well for mine. In the end, it wiped out like $110k of debt for me. Cheapest isn't always the best. Usually you get what you pay for. If the lawyer gives you a warm feeling and his/her background can back it up. Time to move forward. Lets get it done.

Re: BK7 Journey

Anonymous — Fri, 06 Mar 2020 21:50:04 GMT

Hey everybody...I was informed today that before my case is filed Inhave to take an online course geez. My lawyer said that’s a part of the process and that the course is really easy.

Re: BK7 Journey

donkort — Fri, 06 Mar 2020 22:04:40 GMT

Pain in the butt---but that seems to be part of the process.

What's really a pain in the butt, apparently, is the paperwork.

Re: BK7 Journey

Anonymous — Fri, 06 Mar 2020 22:19:42 GMT

@donkort wrote:
Pain in the butt---but that seems to be part of the process.

What's really a pain in the butt, apparently, is the paperwork.

I’ve heard...definitely not looking forward to it but it must be done.

Re: BK7 Journey

FireMedic1 — Sat, 07 Mar 2020 00:11:06 GMT

Umm once done. You'll be debt free. Need anymore incentive? And theres another course after the first one too! Pre and post filing.

Re: BK7 Journey

Anonymous — Sat, 07 Mar 2020 02:24:27 GMT

Is it normal to only be able to meet with your lawyer for 2 hours and then pay a fee for every hour pass that? My attorney has this listed in things covered in his flat fee and I’m wondering if 2 hours is enough time to get through everything. I’m filing Chapter 7 with zero assets if that helps.

Re: BK7 Journey

donkort — Sat, 07 Mar 2020 04:57:17 GMT

I wish it wasn't normal......but it seems to be normal.

Re: BK7 Journey

Anonymous — Sat, 07 Mar 2020 15:27:54 GMT

It is very easy. Takes 1.5-2 hours online. Just did it last Sunday. $10 for MoneySharp. They're in Chicago. Highly recommend. Fair price and informative course.

Re: BK7 Journey

Anonymous — Sat, 07 Mar 2020 15:28:45 GMT

Yes I just finished mine and handed it to the lawyer on Thursday. It took days to gather all the info!

Re: BK7 Journey

Anonymous — Sat, 07 Mar 2020 17:19:44 GMT

@Anonymous wrote:
Yes I just finished mine and handed it to the lawyer on Thursday. It took days to gather all the info!

What all did your lawyer require you to gather up? And did you pay your lawyer his fee upfront or did you do a payment plan?

Re: BK7 Journey

Anonymous — Sat, 07 Mar 2020 18:12:18 GMT

I had to fill out a huge questionnaire for him that included everything from basic personal info to assets/liabilities, estimated monthly budget, info on any gifts/property transfers, and recent (large) payments made to creditors. It was extensive. Supporting documentation included tax returns and W2s, pay stubs, bank account statements, SSA/401k/403b pension info, recent statements for all creditors, my previous divorce judgement, copy of phone/vehicle/house leases, among other things. It was like a whole ream of paper.

I did give my attorney $2100 over 8 weeks in 4 separate payments. I've had $1k/mo in personal loan payments alone so I just quit paying those bills and found the money to pay my attorney. The deal was he couldn't do any work on my case, including of course the actual filing, until he was paid. He did agree to take phone calls from my creditors from day one. I did give him a $600 advance afterall.

The thing is my creditors kept calling me even still. They didn't seem to care when I dropped my attorney's name. It has gone on for weeks. The auto-dial calls are the worst. I've just put my phone on DND and allowed only phone contacts to call me. Thank God for 2020 phone tech. It wears on a person after awhile.

Finally, I had enough yesterday. I knew I had handed in all required documentation to my attorney the day before. I would imagine within a matter of days now, he'll do some drafts and fill out the actual bankruptcy forms, and I'll sign off and it will be filed with the court. So I called up every single one of my creditors yesterday and said this is a done deal. This bankruptcy is going to be filed ASAP and so don't call me anymore. They were all very agreeable, and today marks the first day in a long time I've got no unwanted calls. With that done, and the attorney paid, I am hoping things will steadily somehow improve from here.

Re: BK7 Journey

Anonymous — Sun, 08 Mar 2020 18:25:36 GMT

So I have all of the money now for my lawyer fees. But the lawyer that I was planning to go with doesn’t cover a lot things in his flat fee of $1500. I’m meeting with two more lawyers next week to hear them out. I really thought I was set with having a lawyer picked but he just has so many extra fees for things it’s ridiculous.

Re: BK7 Journey

Anonymous — Sun, 08 Mar 2020 18:27:32 GMT

I’m hoping I can get a lawyer on retainer this week and have everything filed by next week. Any ideas on what documents my lawyer will request? I’m a zero asset case.