by Morgan Fisher on May 18, 2009
Lawrence & Fisher PLLC
Almost everyone that comes into my office is baffled by the overall process of filing bankruptcy in Washington D.C. or Maryland. Let’s face it: there’s a ton of bad information out there and it’s hard to know who to trust. Each case is different but here’s the usual flow
1) Call me at 202-536-5534 for a quick phone interview and to make an appointment.
2) Meet with me for a free consultation; and bring as much of the following paperwork as you can:
–6 months of pay-stubs
–current tax returns
–bank account statements
3) Provide my office with information about your assets and debts. You’ll receive a full interview packet after you meet with me.
4) Over email, phone and fax you work hand in hand with me and my paralegal to prepare your petition.
5) Take the credit counseling course.
6) Meet with me to review your paperwork and sign your petition.
7) I file your petition with the Court electronically.
8 40-60 days after filing your case together we attend the Meeting of the Creditors. (Bring a photo ID and proof of your social security number!)
9) Take the Financial Management Course.
10) 60 days after we attend the meeting of the creditors you should receive your discharge and your case will be closed. Your case is over and you’re now debt free.
by Morgan Fisher on May 10, 2009
Under Section 523(a)(9) of the Bankruptcy code, debts that arise for death or personal injury caused by the debtor’s operation of a motor vehicle, vessel or aircraft if such operation was unlawful because the debtor was intoxicated from using alcohol, a drug or another substance are not dischargeable.
This statute leads to several interesting questions:
Q: How do Courts determine intoxication (it’s possible to have a civil claim for damages where the debtor was not charged or was found innocent of driving under the influence?
A: The Bankruptcy Courts in Washington, D.C. and Maryland will use state law to determine what is unlawful (.08 in both Maryland and D.C.).
Q: Is property damage as a result of drunk driving dischargeable?
A: Yes, only personal injury and wrongful death claims are non-dischargeable under this statute. (But note, other statutes in the Bankruptcy Code may provide a way for a creditor to argue that a debt should be non-dischargeable).
Q: Are DUI debts imputed if the debtor was not driving the car but was responsible for the debtor (e.g. a debtor’s son)?
A: No, the Debtor is only on the hook for his own actions under Section 523(a)(9). The debt should be discharged.
by Morgan Fisher on March 26, 2009
Under the bankruptcy code, an individual may file for bankruptcy in any Court where that individual has resided (or domiciled or where the principal place of business has been located) for the 180 days prior to the filing of the petition or for a longer portion of that 180 days than any other district. What this boils down to is that if you’ve recently moved to Washington D.C. or Maryland then you will need to wait at least 91 days from the time you moved to file bankruptcy here.
Nonetheless, you shouldn’t wait a single day to see a qualified bankruptcy lawyer in Washington D.C. or Maryland if you can’t pay your bills on time or if you are facing foreclosure in any jurisdiction.
* If you have an emergency situation such as a pending foreclosure you should file in whatever jurisdiction you moved from. Go here to find a qualified lawyer.
by Morgan Fisher on March 10, 2009
Your Chapter 7 or Chapter 13 trustee may ask you any question but these are the most typical:
1. State your name(s), social security number, and current address for the record.
2. Have you read the Bankruptcy Information Sheet provided by the Trustee?
3. Are you aware of the following:
a. the consequences filing bankruptcy may have on your credit history?
b. the ability to file a bankruptcy petition under Chapter 13?
c. the effect of receiving a Chapter 7 discharge of your debts?
d. the effect of reaffirming a debt?
4. Did you sign your petition and scheduled you filed with the Court?
5. Did you read your petition and schedules before you signed them?
6. Are you personally familiar with the information contained in your petition and schedules?
7. Is the information contained in your petition and schedules true and correct?
8. Are there any errors or omissions to bring to the Court’s attention at this time?
9. Are all of your assets identified on the schedules?
10. Have you listed all of your creditors on the schedules?
11. Have you filed bankruptcy before?
OTHER QUESTIONS
1. Do you own or have any interest whatsoever in any real estate?
2. Have you transferred, sold or given away any property within the last 12 months?
3. Does anyone hold property belonging to you?
4. Do you have a claim against anyone or any business?
5. Are you entitled to life insurance proceeds or an inheritance as a result of
someone’s death?
6. Does anyone owe you money?
7. Have you made any payments totaling over $600 to anyone in the last 90 days?
8. Tax return information: _____________________________________________
9. When you filed your petition, did you have the following:
a. any cash on hand?
b. a checking account?
c. a savings account?
d. any US Savings Bonds?
e. any Certificates of Deposit?
f. any stocks?
g. a safe deposit box? 10. Do you own any vehicles?
11. Have you filed the Statement of Intent concerning retention or surrender of
secured property?
12. Have you been self-employed in business during the last six years?
by Morgan Fisher on March 3, 2009
The Meeting of the Creditors provides several purposes. First and foremost, the trustee makes sure that you have properly listed all of your assets and debts. Bankruptcy fraud is very real and the trustee has an obligation to make sure that every debtor approachs the bankruptcy process honestly. If you do have assets that exceed the exemptions in Maryland or Washington, D.C. your creditors will have a claim. The trustee’s job is to distribute those assets.* Secondly, the trustee is there to verify your identity and social security number. Accuracy is vital in the world of bankruptcy. Finally, in a Chapter 13 the trustee must make sure that you’re Chapter 13 plan is feasible, i.e. do you have enough income to make your “repayment plan” work. At my firm, we’ll prepare you for the meeting of the creditors and you’ll be ready for any and all questions.
*Remember that both Maryland and Washignton, D.C. offer generous exemptions…you should be able to keep all of your assets.
by Morgan Fisher on February 27, 2009
In order to receive a discharge, debtors in a Chapter 7 bankruptcy must take a second online course titled, the Financial Management Course within 45 days after the meeting of the creditors. In a chapter 13 debtors must take the financial management course before their last plan payment. The course is relatively painless and affordable. Failing to take the course will often result in your case being closed without a discharge so it is vital that you take it!
To take the course go here.
by Morgan Fisher on February 20, 2009
Filing for bankruptcy in Maryland or Washington D.C. triggers the automatic stay. Creditors are forbidden from taking any action against you including repossessions, foreclosures, collection calls or written correspondence. Of particular importance is that all State collection lawsuits are put on hold (and ultimately dismissed when you receive your discharge). Under section 362 of the bankruptcy code, violation of the automatic stay provides for damages should a creditor continue to harass a consumer after he or she files for bankruptcy.
If you find yourself being harassed by creditors after you file contact me immediately and I will send a warning letter to the offending party. If the calls continue, we’ll take action in Court. In most cases, the automatic stay is the beginning of the end for creditors and my office is committed to seeing the stay enforced.
by Morgan Fisher on February 13, 2009
1) Get Organized. Gather up all of your bills, tax returns, collection letters, bank and 401k statements. If you own a home obtain a copy of the mortgage and a Hud-1 if applicable. It is particularly important for you to provide me with all of your creditor’s addresses so that should you choose to file bankruptcy I can notify them.
2) Immediately stop using credit cards. Recent credit card usage before a petition is a major red flag and in some instances will be considered fraud. If you’re in financial trouble racking up more credit card debt is not the solution.
3) Set up a support group for yourself. Filing bankruptcy can be extremely emotional. You’ll be facing a lot of demons when you deal with your past and it can be very helpful to have a friend or two to support you along the way.
4) Photocopy your most recent tax return, 60 days of pay stubs and four months of bank account statements. The trustees in Maryland and Washington D.C. require these statements at your meeting of the creditors. It’s not required that you have all of these items at our first meeting but it will speed the process along if you do.
by Morgan Fisher on February 8, 2009
Before you file for bankruptcy, Section 109(h)(1) of the Bankruptcy Code mandates that a debtor must obtain credit counseling “during the 180 day period preceding the date of filing of the petition.” The course itself is relatively painless except for the cost ($30-$50) . It is crucial that you have the providers listed below fax (866-393-4828) me a certificate of completion before you come in to sign your petition.
Here are a few pre-bankruptcy credit counseling providers that I recommend:
Startfresh
MMI
Hummingbird
Unfortunately, credit counseling is not optional; you must take it in order for me to file your case.
by Morgan Fisher on February 7, 2009
Both Maryland and Washington D.C. provide generous exemptions that allow most folks to keep all of their property. We tell our clients to use yard sale or ebay prices when it comes to valuing their personal property. If you held a yard sale outside your home, how much could you reasonably expect to sell your stuff for? Used kitchen goods, furniture and clothing are typically worth a small fraction of what you paid for them.
If you have antiques or artwork ebay can provide a good appraisal source and remember the value of your goods is the price after sales commissions and fees.
The bottom line is that you can file for bankruptcy and expect to keep all of your personal property. Make sure you find a good lawyer in D.C. or Maryland to walk you through the process.
