Archive for the ‘Chapter 128’ Category
A bankruptcy has an effect on many parts of one’s life and therefore people like your accountant, financial advisor, etc. might end up giving you some advice or sharing a story about someone they know who has filed. While these confidants are usually trying to be helpful, beware: their advice isn’t always accurate, and it is always best to discuss your situation with a knowledgeable bankruptcy attorney to get the right answers.
Attorney Cathy Moran recently posted the following story on her blog covering California bankruptcy topics:
The terrified client in my office was told by her accountant that if she filed Chapter 13 to save her home, the court would not allow her to buy prescription dog food for an ailing 16 year old pet! Further, the accountant went on to declare that in Chapter 13, the debtor could pay only for housing, food and gas: nothing more. No maintenance for the house, no insurance, no clothes, no medical care.
Of course, the accountant was dead wrong. Articulate but wrong. So I explained the operation of Chapter 13, how the means test works, and the balance between the debtor’s reasonable living expenses and the claims of creditors. And assured the client that she can provide for her treasured pet for the balance of its life. Then I fumed.
One of the great things about the age in which we live is that there is a lot of information available about anything you might want to learn about at the click of a mouse. However, there is a lot of bad information on the web. Before you eliminate bankruptcy as an option because of a horror story your favorite bank teller told you call us today at 414-277-7742. The attorneys of Miller & Miller can help you to understand your options and empower you to get the fresh start you need.
A good question that bankruptcy attorneys hear every day is, “Who will know about my bankruptcy?” Generally speaking, bankruptcy is a confidential process, however, the Bankruptcy Code and Federal Rules of Bankruptcy Procedure require that notice of one’s bankruptcy case must be sent to certain individuals and businesses.
Bankruptcy is a legal process and therefore is public record. While it used to be a more common practice, these days few newspapers will publish bankruptcy filings in the “public notices” section. This is because the number of bankruptcy filings makes reporting personal bankruptcies impractical. In 2011, more than a million and a half people will file bankruptcy, and more than 5.7 million people have filed since September 30, 2005. So, unless you are famous or your bankruptcy case is newsworthy for some other reason, notice of your filing is unlikely to be printed in your local newspaper.
When your case is filed, you are required to submit a list of the names and addresses of every individual or business you owe. . Everyone on that list receives a notice of your bankruptcy. The notice also prohibits the creditor from taking any further collection activity. The bankruptcy court will send notices only to the names on your list of creditors, to your attorney, and a notice to you. Friends and family members are not sent notices unless you identify them as a creditor on your list.
In a few limited situations, your employer may receive notice regarding your bankruptcy. Naturally, if you owe your employer money, your employer will be notified. Another reason is if you file a Chapter 13 repayment bankruptcy and wish for your employer to withhold the plan payment from your pay checks. There could also be other reasons to notify your employer, like if your employer is under a court order to garnish your wages and they need to be notified to stop the garnishment.
Since your bankruptcy is public record, any individual may contact the bankruptcy court to obtain information about your case. The majority of bankruptcy courts have an automated telephone system that will provide basic case information to the public. However, some individuals are able to access the Public Access to Court Electronic Records (PACER), an electronic public access service that allows users to obtain bankruptcy case information via the internet. PACER registration is free, but the system charges a an access fee per page.
Most bankruptcy cases are confidential. However, every case is different. If you have specific questions about the effects of filing a bankruptcy, call us today. The attorneys at Miller and Miller can explain the benefits of the federal bankruptcy laws and the process for discharging your debts.
Bankruptcy doesn’t usually happen in a vacuum. There is usually some type of personal crisis going on when folks enter into bankruptcy, something that tips them over the edge and makes bankruptcy unavoidable.
While many bankruptcies are caused by uncontrolled spending, divorce, job loss, or unexpected disasters, probably the biggest cause of bankruptcy is burdensome medical expenses, according to a Harvard University study. Another recent study by the American Society of Clinical Oncology, which examined data from a Washington state bankruptcy court records and a National Cancer Institute registry over a 14-year period, found that bankruptcy rates among those diagnosed with cancer were almost twice as high after one year than they were among the general population.
According to the study, 2.1 percent of individual cancer patients sought personal bankruptcy protection in the years following a cancer diagnosis. Those diagnosed with lung and thyroid cancers, and leukemia and lymphoma were most likely to file for bankruptcy one year, two years, or five years after their diagnosis. 7.7 percent of lung cancer patients eventually filed for bankruptcy, according to the study. Cancer patients least likely to file for bankruptcy were those over 65, who typically have Medicare coverage.
The recent study was not the only one to have looked at the connection between According to a Harvard study of personal bankruptcies filed in 2007, 62 percent of filings are caused by costly medical problems. Perhaps more interesting, though, is that 78 percent of filers in 2007 had medical insurance at the beginning of their illness, 60 percent being covered by private coverage.
The filing of a chapter 7, chapter 13 or a chapter 128 will prevent WE Energy from disconnecting your utilities. Call us today 414-277-7742 if you are facing disconnection or if you have been disconnected. We can help immediately.
Obligations to utility services can be listed in a bankruptcy petition. It is a violation of Public Service Commission regulations for a utility service to terminate the service to a bankrupt on a basis of their filing a bankruptcy petition. However, a utility may, and in most cases, will, require that you pay a security deposit to that utility to guarantee that post petition obligations shall be paid timely. Since you have other options available for Cable and Cell Phone Service they can disconnect service.
If you are having difficulties paying your utility bills contact Miller & Miller.