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Bankruptcy FAQs
With more than 35 years of experience, McCue Law has helped hundreds of clients find relief by filing for bankruptcy. And along the way, we’ve answered a lot of questions about bankruptcy law! While every situation is unique, we’ve answered a few of the more general questions that our clients have about bankruptcy. Know that if you’re struggling with debt, you don’t need to go it alone — our bankruptcy attorneys can help you get a fresh start.
If you have further questions after reading these FAQs, visit our bankruptcy overview page. If you would like to schedule a free consultation to discuss your particular situation and needs, contact McLaw today.
1) How much does it cost to file bankruptcy?
Chapter 7
- $2,000.00 paid in affordable installments based on client’s financial hardship; however, $300.00 is required as an initial non-refundable down payment.
Chapter 11
- Prices vary dependent on the complexity of the case.
Chapter 13
- Average retainer fee is around $3,500.00, with the remaining amount built into the Chapter 13 plan.
2) When does McCue Law Office start dealing with my creditors?
As soon as the required initial non-refundable deposit is made, your bankruptcy attorney will begin representation. However, your bankruptcy filing cannot take place until you have paid in full.
3) Can you keep home/car with bankruptcy?
In Chapter 7 bankruptcy, depending upon the value, you will normally be allowed to keep a vehicle and/or home so long as your payments are up to date.
In Chapter 13 bankruptcy, you pay your current mortgage directly to the mortgage company.
4) Do I have to pay in full or do you take payments?
We will accept payments. You can refer your creditors to us once you have paid $500.00. We cannot file your bankruptcy with the court until you have paid in full for Chapter 7 bankruptcy or until you have paid the full retainer for Chapter 13 bankruptcy.
5) Are student loans and tax debts dischargeable?
Student loans can be discharged only in exceptional circumstances. Tax debt can sometimes be discharged, depending on how old the debt is, and whether you filed your returns when they were due.
6) What paperwork do I need to file?
- Six months of pay stubs or current year’s awards letter
- Six months of bank statements for ALL bank accounts
- Two years of tax returns
- Copies of your bills
There may be more paperwork depending on your individual circumstances
7) Can the bankruptcy court filing fee be waived?
The bankruptcy court can waive the filing fee for Chapter 7 bankruptcy (currently $335) if your income is low enough.
A waiver of the filing fee for Chapter 13 bankruptcy (currently $310) is not available.
McCue Law Office Bankruptcy Attorneys Bangor
McCue Law Office in Bangor is committed to helping our Maine clients find relief from overwhelming debt. If you need a fresh start, contact one of our bankruptcy attorneys today.
Our law office specializes in personal injury, bankruptcy, social security disability, workers’ compensation, and real estate. Put our 35+ years of experience to work for you!