Phillip Shell Gets Creditors off Your Back
Taking the mystery out of bankruptcy
Phil helps clients find their way through difficult financial times.
U.S. bankruptcy law provides relief to financially burdened consumers who can’t make ends meet. Phil takes the time and has the experience to help you. He’ll take care of your debt issues and take care of them the right way.
What are bankruptcy options?
Depending on the amount of your assets and liabilities, you may be eligible for protection under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code.
The vast majority of individuals and families who pursue bankruptcy use either Chapter 13 or Chapter 7, but other chapters are appropriate for farmers, fishermen, municipalities, and businesses.
Sometimes filing bankruptcy is not the best option for your situation. Phil can help you make the right decision and get the relief from creditors you need. We are a debt relief agency. We help people file for bankruptcy.
What are some reasons to pursue bankruptcy?
If you are in over your head financially, it may be time to raise the white flag and ask a court for permission to start over.
Sometimes these situations arise from unexpected medical emergencies, job changes, or divorce. Beside simply getting a fresh start financially, a bankruptcy proceeding can deal with some of the consequences of money problems, including:
- Stopping a foreclosure
- Stopping wage garnishment
- Threatened repossession
- Fixing your credit rating
- Stopping a creditor from taking exempt property, such as your home
- Stopping creditor harassment
Bankruptcy attorney Phil Shell explains the law to you, evaluates your circumstances, and recommends a course of action to help you move toward a fresh start.
What is the timeline for a bankruptcy case?
Your case may be over in just three to eight months if you file under Chapter 7. If you file under Chapter 13, your case remains open for three to five years, depending on the length of your Chapter 13 repayment plan. Under either chapter, your case proceeds through the following general steps:
You meet with Phil. The initial consultation is free.
If you decide to hire Phil you will receive a packet to help you assemble your records and provide the requested financial information to our office.
We use this packet to prepare your petition to the court for your review.
After your review, we file the petition with the court. The court charges a filing fee which is paid by you and goes directly to the court.
Once your case is filed, you get a case number to give to any creditors who call you before they receive notice of your bankruptcy petition. Creditors are not allowed to contact you directly after you file bankruptcy.
Your case is set for a meeting of the creditors within four to six weeks (sometimes referred to as the “Section 341 hearing”).
After this meeting of the creditors, the court will require that you complete an approved financial management course. We will provide information to you about this course.
If there are no objections from your creditors, your dischargeable debts are discharged by court order within 60 to 90 days of filing your financial management certificate.
A discharge signifies the end of your case, and it is closed by the court.
Which is better – Chapter 7 or Chapter 13?
The answer depends on the relative size of your assets versus your liabilities. Chapter 7 is often referred to as the liquidation chapter, while Chapter 13 is often referred to as the consolidation chapter.
After reviewing your financial information, if you qualify to file under both chapters, then you get to choose. Chapter 7 and Chapter 13 bankruptcy cases are structured and administered differently, and each has its advantages and disadvantages. Phil can guide you to the chapter that is right for you.