Filing for Bankruptcy in Maui
If you feel underwater with debt and are struggling to live on the Valley Isle, bankruptcy might be the right choice for you.
Our Maui bankruptcy attorneys have provided this guide on how to file for bankruptcy in Maui. Once you are ready to file, we will be here to support you throughout the process.
Reach Out to Our Talented Bankruptcy Lawyers Today
Do you need to file for bankruptcy but aren’t sure how? Blake Goodman, PC, Attorney has you covered. Our firm’s top priority is to help people who are seeking debt relief through bankruptcy.
Although there are countless myths about bankruptcy, in reality, it is a way to help you get back on your feet when life has taken a negative turn.
If it feels like you can’t possibly pay back what you owe or your debts are unpayable, then that’s when it’s time to file bankruptcy.
Essential Steps To File Bankruptcy in Maui
This does not mean that bankruptcy is a simple process. You can’t just show up to court one day, papers in hand, and declare it.
There’s a process that needs to be followed and one that our bankruptcy experts can help you with.
While not every bankruptcy case is going to be the same, there is a general guideline that every case is going to follow:
- Consultation
- Bankruptcy Counseling Session
- Filing With The Court
- Liquidation or Repayment
- Debtor Education Course
- Debt Discharge
Some of these steps in the Maui bankruptcy filing process, such as the counseling sessions, will be required before you can file or have your debts removed from your name, but once these are complete you will be debt-free.
We Offer Free Bankruptcy Consultations
When you meet with us for your free consultation, we take the time to learn about your situation and explain what our law firm is all about.
This is an obviously stressful time, and you are going to be looking for a lawyer you can trust to help you get through this situation.
We are certain that once you hear what we have to say there is no one you would rather go into a courtroom with. After we are finished with your consultation, we can move to the specifics of your bankruptcy case.
Credit Counseling Sessions
The first required counseling session is to teach you about bankruptcy. You can not file for bankruptcy in court until this is completed.
This session is meant to make sure that bankruptcy is really the only option left available to you. It will explore alternatives to bankruptcy and other plans that may prove beneficial to you.
You will also be taught about the bankruptcy process and your income and debts will be analyzed.
If there are better alternatives to bankruptcy then we may look into exploring them here, but if we do decide that bankruptcy is what is best for you then you must understand how that entire process will work.
After this session has been completed we will focus on getting your paperwork together so we can officially file your bankruptcy.
How to File for Bankruptcy: Maui
When you come to our office ready to file for bankruptcy, you should bring information about your finances. To fill out your bankruptcy paperwork, you will need:
- A list of your creditors’ names and addresses;
- The amounts and types of debts you owe;
- Proof of your income—with information on both frequency and amounts;
- A list of the property you own; and
- A record of your household expenses, like groceries, clothing, housing, utilities, taxes, transportation, and other necessities.
You will also need to note if you anticipate any increases in income or expenses after filing. In addition, you will need to submit a copy of your latest tax return.
Once you have filed for bankruptcy in the court system a couple of procedures will begin.
First, the bankruptcy will be reflected on your credit report. This is standard and will last at least seven years.
Second, any legal matters you are going through will be paused until the bankruptcy case has been completed.
Chapter 7 & Chapter 13 Bankruptcy
Chapter 7 and Chapter 13 bankruptcy will both release you of your debts, but how you will be released from that debt will vary.
- Chapter 7: During Chapter 7 bankruptcy you will see your valuable assets liquidized to pay off your debts. This could include extra cars, houses, or extremely valuable jewelry.
- Chapter 13: In Chapter 13 bankruptcy your assets may be protected, but instead you will see your debts collected into one monthly payment. You will then proceed to pay off your debts in a single payment once a month.
While Chapter 7 pays off your debts quickly using your assets, not everyone qualifies for Chapter 7 bankruptcy. If you make more than the median current monthly income in your state, you must also pass the “means test.”
This is a test that checks for abuse of the bankruptcy process. When you can afford to repay some of your debts, you cannot file Chapter 7. If this is your situation, a Chapter 13 plan may be a better option for you.
Debtor Education Course
This step can either be finished before or after your assets have been liquidized or your debts have been paid off. The debtor education course is a two-step required class that will teach you how to avoid falling into this situation again.
It can teach you helpful financial tips that will be helpful to you for the rest of your life. We also offer a free course to help get your credit score back up to a 720 or higher status within two years following your bankruptcy.
The Discharge
Most bankruptcies end with a discharge of remaining debt. Unless a creditor objects, the discharge will proceed once you have met the requirements.
In Chapter 7, 99% of debtors receive a discharge. After the discharge, creditors cannot collect on the discharged debt. However, not all debts are eligible for discharge.
Debts that are unaffected by bankruptcy include:
- Child support or alimony,
- Certain taxes,
- Debts in a criminal sentence after being convicted of a crime, and
- Debts for personal injury or death caused by the operation of a motor vehicle while intoxicated by alcohol or other substances.
A Chapter 7 bankruptcy case is usually completed within 60 to 90 days of filing. If filing under Chapter 13, you can receive a discharge after completing your three to five-year plan.
Blake Goodman, PC: How To File Bankruptcy in Maui
Our Maui bankruptcy attorneys dedicate themselves to offering the best possible advice to people facing financial hardships.
When faced with unpaid bills, an exhausted savings account, and never-ending collection calls, we can help. You can call us when you need to—we are open until 9 PM on weekdays and 7 PM on weekends.
When you visit us for your consultation, we’ll schedule your appointment at the most convenient office location for you. We have offices in Maui, Honolulu, Kaneohe, and Aiea.
Having an experienced and knowledgeable attorney handle the details of your bankruptcy can lift a weight from your shoulders and prepare you for a fresh start.
You can count on thorough, quick, and kind service from Blake Goodman, PC, Attorney, to help you get through this trying time.
Give us a call at (808) 725-2256 to schedule your free case consultation with our Maui bankruptcy lawyers.