When individuals file for bankruptcy, they are sometimes worried about the fees associated with bankruptcy. In most cases, filers will only need to pay the initial filing fee.

After this fee is paid, a filer’s expenses are typically confined to lawyer fees. However, if the filer chooses to convert a Chapter 13 to a Chapter 7 bankruptcy.

If you are considering filing for bankruptcy, contact the New Orleans bankruptcy lawyers of Kervin and Young, LLC, at 504-599-5906.

The bankruptcy process often begins when filers meet with their bankruptcy attorneys. These attorneys will often help filers prepare their financial records and any other documents that may be needed for a filing.

Once these documents are in order, the potential filers will take the means test, which will determine their eligibility. If they are eligible, individuals will file a bankruptcy petition and obtain an automatic stay.

For the next few months, creditors will be notified, and some the filers debts will be discharged. This timeline, however, could vary depending on various legal contingencies.

If you or anyone you know is considering a bankruptcy filing, contact the New Orleans bankruptcy attorneys of the Law Office of David D. Kervin, Jr. at 504-599-5906.

When individuals file for Chapter 13 bankruptcy protection, they often are required to repay a number of their debts. The length of time for repaying these debts is usually capped at 60 months.

If individuals need more time to pay, they typically have a number of options. One, they could try to negotiate with their creditors and formulate a new payment plan. If they cannot come up with a new plan, these debtors may be forced to file for Chapter 7.

If you or anyone you know is considering filing for Chapter 13, contact the New Orleans Chapter 13 bankruptcy attorneys of New Orleans bankruptcy attorneys of the Law Office of David D. Kervin, Jr., LLC, at 504-599-5906.

Many individuals who file for bankruptcy fear that they will lose their homes. Bankruptcy, however, affords individuals with many protections including the assurance that they can keep their home.

This assurance is usually dependent on whether individuals continue to make mortgage payments. If individuals start missing payments, then the court may give the bank permission to foreclose.

If you have considered filing for bankruptcy, contact the New Orleans personal bankruptcy attorneys of the Law Office of David D. Kervin, Jr. at 504-599-5906.