Montana Bankruptcy Information
Finding an attorney in our network of experienced Montana bankruptcy lawyers is your first step towards your new start at life.
Chapter 13 Bankruptcy in Montana
If you do not qualify for filing Chapter 7 Bankruptcy in Montana, or you do not want to liquidate your assets, you may still be able to file Chapter 13 bankruptcy. It\'s wise to ask a Chapter 13 bankruptcy lawyer for assistance of all details and qualifications. Chapter 13 Bankruptcy will not discharge all of your unsecure debts immediately, but it may allow you to: Stop a home foreclosure,Stop property repossessions,End certain wage garnishments,End harassing creditor calls.
The first step for Chapter 13 Bankruptcy is to contact your Montana Bankruptcy Lawyer who will submit all the bankruptcy paperwork, help you create your bankruptcy repayment schedule and appear in court for you. In Montana, Chapter 13 bankruptcy will allow you to create a bankruptcy repayment schedule to restructure your debts under a three to five year plan. If you complete your bankruptcy plan, your qualifying debts will be discharged.
- The first step for Chapter 13 Bankruptcy is to contact your Montana Bankruptcy Lawyer who will submit all the bankruptcy paperwork, help you create your bankruptcy repayment schedule and appear in court for you. In Montana, Chapter 13 bankruptcy will allow you to create a bankruptcy repayment schedule to restructure your debts under a three to five year plan. If you complete your bankruptcy plan, your qualifying debts will be discharged.
- A court appointed trustee will monitor your bankruptcy plan and ensure your creditors are all paid correctly. If you are under Chapter 13 Bankruptcy protection, your creditors will not be able to harass you for debt payments. There may be certain types of non-dischargeable debt which will have to be paid outside of the bankruptcy plan and failure to pay these debts will allow creditors to continue their debt collection efforts.
- There will be assets and personal property which are not part of the bankruptcy process and are protected from your creditors. These assets are called exemptions and they are determined by federal bankruptcy laws. Certain stated may have their own list of exemptions and depending where you live, you may be able to choose either the state bankruptcy exemption list or the federal bankruptcy exemption list.
- There are certain states which will only allow you to use the state bankruptcy exemptions. In the state of Montana, you can not use the federal bankruptcy exemptions. Only the state of Montana Bankruptcy Exemption List can be used.
Chapter 7 Bankruptcy in Montana
Chapter 7 Bankruptcy is the most common and least expensive bankruptcy. Under Chapter 7 Bankruptcy in Montana, a court appointed trustee will sell your non-exempt personal property and use the proceeds from the sale to repay your debt obligations. All creditors will have a priority rating and they will be paid in the order outlined under federal bankruptcy law. Chapter 7 Bankruptcy will take approximately four to six months to complete. Chapter 7 Bankruptcy is considered a liquidation of your assets. If you do not have any assets it will be a \"no-asset\" case. Hiring a knowledgable Chapter 7 lawyer can make this process easier to understand, see our free online bankruptcy evaluation to find your Montana bankruptcy attorney today.
Filing Chapter 7 Bankruptcy will immediately discharge most qualifying unsecure debt including: hospital bills, unsecure personal loans and credit card bills. If you are an individual, married couple, corporation or partnership, you may qualify to file Chapter 7 bankruptcy.
It is important to contact your Montana Bankruptcy Lawyer to determine if you can file Chapter 7. If you can, your Montana attorney will file all your bankruptcy forms including your schedules, petitions, and Statement of Financial Affairs. Your Statement of Financial Affairs will list all your debts, your assets, your creditors, your property and your expenses and income.
Filing Chapter 7 Bankruptcy will also temporarily halt all collection efforts under a \"temporary stay\". Collections may continue if the bankruptcy judge determines there is \"cause\". Certain collection efforts for non-dischargeable debts will not be affected by filing Chapter 7 Bankruptcy in Montana.