Once you engage Wink & Wink, our commitment to you is to make certain that you understand the bankruptcy process and your role in that process. We will be with you every step of the way toward a fresh start. To help ensure this, we will provide you with our personal cell phone numbers so that your questions and concerns are addressed when they arise.
In most cases, your legal fees will be due upon engaging Wink & Wink. However, if you are filing for Chapter 13 Bankruptcy, some of your legal fees may be rolled into your payment plan. Additionally, we will discuss with you ways you may be able to restructure your debt payments in anticipation of bankruptcy in order to free up enough money to pay your legal fees. Once you have decided to pursue bankruptcy, you will likely be able to stop paying some of your bills. This usually gives people enough financial breathing room to reach their goal of having reliable and knowledgeable legal representation during the complicated bankruptcy process.
Prior to filing your case with the Colorado Bankruptcy Court, the law requires that you take a brief credit counseling session. This is a new requirement under the 2005 changes to the Bankruptcy Code. The session costs $25 and can be done in our office, at your home over the phone or online, or by attending a session in person.
Once all the paperwork requirements have been met, you have your credit counseling certificate in hand, and you sign your case, we will file your case with the Court and the automatic stay begins. The automatic stay means that creditors may no longer take any action on your personal property, including your car and home, and must also stop any contact with you at all. No more harassing phone calls or letters! Additionally, if creditors break this rule, we can sue them for damages. There is a filing fee due to the Court of $306 for a Chapter 7 and $281 for a Chapter 13.
Once your case is filed, we will advise you of the time and place for your meeting of creditors. This meeting takes place in front of the Bankruptcy Trustee and you will be required to answer questions under oath. We will ensure that you are prepared for this meeting and we will be there to handle any issues that arise.
If you filed a Chapter 7 bankruptcy, your case can be over as soon as 90 days after your Trustee meeting of creditors. Creditors have 60 days from that hearing to file any objections to your case. You also have 60 days to add any missed creditors. Generally, once any objections are decided by the bankruptcy trustee, your case will receive a discharge. You can then begin your new start, free from the debts discharged in your case.
If you filed a Chapter 13 bankruptcy, you will then begin payments on your repayment plan within 30 days of your plan being filed. This repayment period will last from three to five years. Creditors can file objections to your plan, and we will help resolve those to your advantage whenever possible. There will be a confirmation hearing, which you do not need to attend, where any objections to your plan will be resolved.
Once your plan is completed and you have made all required payments, you will receive a discharge. Then you can begin to enjoy a financial life free from all debts discharged in your case. If any new issues arise during your repayment plan, we are always available to assist you. We can file for a modification of your plan to address any financial changes that arise during the repayment period.
Prior to receiving your discharge in either a Chapter 7 or Chapter 13 case, you will be required to take a brief financial management session. With Wink & Wink, P.C. as your Colorado bankruptcy lawyers, you can rest assured that your bankruptcy case will run smoothly on your way to debt relief and financial freedom. We are always here to help you, before and after your personal bankruptcy.