I’m Robert Beucler. I’m a certified
bankruptcy specialist with Lerner and Rowe Law Group. I’ve been practicing bankruptcy law for over thirty years and representing debtors
like you. To file a bankruptcy petition and to determine whether bankruptcy is
the right choice for you, we will need certain documentation from you. What we
need from you would be copies of your pay stubs, bank statements, tax returns,
and all your invoices from all of your creditors. From that, we can determine
whether bankruptcy is the right choice for you. We can also determine whether
chapter seven or chapter thirteen is the appropriate bankruptcy for you. Chapter seven is a liquidation bankruptcy wherein you get to keep certain exempt property and
would turn over certain non-exempt property to your trustee for the
benefit of your creditors. Chapter thirteen is known as a repayment bankruptcy
wherein the debtor pays back basically what the debtor can afford to pay back
on certain debt, which is unsecured debt, and pays back one hundred percent of other debt. For example, in a chapter thirteen, a debtor is required to pay back one hundred percent of certain debts such as back taxes, back alimony, and back child support. The general
unsecured debt would be discharged by paying a percentage or portion of that
debt, depending on the debtor’s ability to repay that debt. For example, we have
debtors who have paid back one hundred percent of their unsecured debt, while, on the other hand,
we have debtors who have paid back less than one percent of that unsecured debt, and it all depends on their ability to repay.