United States Bankruptcy Courts
Federal courts have exclusive jurisdiction over bankruptcy cases.
Bankruptcy cases cannot be filed in state court. Each of the 94
federal judicial districts handles bankruptcy matters. The primary
purposes of the law of bankruptcy are: (1) to give an honest debtor
a "fresh start" in life by relieving the debtor of most debts, and (2)
to repay creditors in an orderly manner to the extent that the debtor
has property or income available for payment.
Difference between Chapter 7 and Chapter 13
Most consumer, i.e. non-business, bankruptcies are filed either
under Chapter 7 or Chapter 13 of the bankruptcy code. Chapter 7
looks at the debtor's non-exempt assets to pay off creditors and
Chapter 13 looks at a debtor's future disposable income to pay off
creditors. In most cases, unsecured creditors will receive only a
percentage, if anything, that would be owed to them if bankruptcy
had not been filed.
Q: How do I file for bankruptcy? Is there a charge?
A bankruptcy case is commenced by the filing of a petition. You
must also file a statement of your assets and liabilities, and
schedules listing your creditors. You do not pick and choose
which assets and/or debts that you disclose but must disclose all
of your assets and all of your debts to ensure one creditor is not
given preference over another of creditors and to ensure creditors
are treated in accordance with bankruptcy law.
There is a range of filing fees for bankruptcy cases, depending on
the chapter of the bankruptcy code under which you file. The filing
fee for a Chapter 7 is $299 and for a Chapter 13 is $274. You will
also need to pay the attorney either directly, through a Chapter 13
Plan, or a combination of the two. The attorney fee is usually
negligible compared to what you would be paying creditors if
bankruptcy is not filed.
Why use the Law Offices of Christopher J. Shellito, Esq., LLC
We have extensive experience under the new bankruptcy code as
well as past experience working in the offices a bankruptcy
trustee. We are fully licensed to practice in the Federal Bankruptcy
Court of Northern Ohio have handled numerous Chapter 7 and
Chapter 13 matters.
Federal courts have exclusive jurisdiction over bankruptcy cases.
Bankruptcy cases cannot be filed in state court. Each of the 94
federal judicial districts handles bankruptcy matters. The primary
purposes of the law of bankruptcy are: (1) to give an honest debtor
a "fresh start" in life by relieving the debtor of most debts, and (2)
to repay creditors in an orderly manner to the extent that the debtor
has property or income available for payment.
Difference between Chapter 7 and Chapter 13
Most consumer, i.e. non-business, bankruptcies are filed either
under Chapter 7 or Chapter 13 of the bankruptcy code. Chapter 7
looks at the debtor's non-exempt assets to pay off creditors and
Chapter 13 looks at a debtor's future disposable income to pay off
creditors. In most cases, unsecured creditors will receive only a
percentage, if anything, that would be owed to them if bankruptcy
had not been filed.
Q: How do I file for bankruptcy? Is there a charge?
A bankruptcy case is commenced by the filing of a petition. You
must also file a statement of your assets and liabilities, and
schedules listing your creditors. You do not pick and choose
which assets and/or debts that you disclose but must disclose all
of your assets and all of your debts to ensure one creditor is not
given preference over another of creditors and to ensure creditors
are treated in accordance with bankruptcy law.
There is a range of filing fees for bankruptcy cases, depending on
the chapter of the bankruptcy code under which you file. The filing
fee for a Chapter 7 is $299 and for a Chapter 13 is $274. You will
also need to pay the attorney either directly, through a Chapter 13
Plan, or a combination of the two. The attorney fee is usually
negligible compared to what you would be paying creditors if
bankruptcy is not filed.
Why use the Law Offices of Christopher J. Shellito, Esq., LLC
We have extensive experience under the new bankruptcy code as
well as past experience working in the offices a bankruptcy
trustee. We are fully licensed to practice in the Federal Bankruptcy
Court of Northern Ohio have handled numerous Chapter 7 and
Chapter 13 matters.
Bankruptcy
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5510 Pearl Road, Suite 300 Parma, Ohio 44129 (440) 885-LAWS (5297) (440) 885-5318 Facsimile E-Mail: chris@shellitolaw.com |