About Bankruptcy - Frequently Asked Questions
To schedule an appointment, call (605) 335-4008
What is bankruptcy?
Bankruptcy is a way for people and businesses to break free of crushing debt burdens, get relief from their creditors, and make a fresh start. The process is established by US law, and there are many different types of bankruptcies.
How much does bankruptcy cost?
The total cost to file you in bankruptcy has two parts:
1. A filing fee, which is paid directly to the court through your attorney
2. Your legal fees, paid to your attorney
Currently, the filing fee for a Chapter 7 bankruptcy is $306, and the filing fee for a Chapter 13 bankruptcy is $281. For filing fees in Chapter 11 and Chapter 12 cases, consult with Larry. Filing fees are subject to change.
Larry's legal fees depend on the circumstances and complexity of your case, but they are very competitive.
Is bankruptcy right for me?
Whether or not you should file for bankruptcy is an important personal decision. Come in for a free consultation to see if bankruptcy is right for you - there is no pressure or obligation to file. Larry will work with you to determine if you are eligible for bankruptcy, advise you about your options for reducing your debt, and explain the bankruptcy process.
Do you charge anything for our first meeting?
No - our first meeting is completely free and there is no obligation to file bankruptcy.
What documents do I need before I file for bankruptcy?
You will need to collect and alphabetize all of your debts, gather your recent billing statements, locate your current federal tax return, and find previous pay stubs and bank statements.
How many forms of identification are required?
The courts require a state-issued picture ID or driver's license. You will also need your Social Security Card.
How is my bankruptcy filed?
Your case is filed electronically with the United States Bankruptcy Clerk in South Dakota.
What about my most recent tax return?
You will need to provide a complete copy of this document as well.
Is a credit report necessary?
No, however, if you can provide a copy it will streamline the process. If you don't have a copy of your credit, you can obtain one for free from this website or purchase one locally.
Is there a way to determine who has filed judgments against me?
Yes. You should obtain a statewide judgment search from your local county Clerk of Court. If you need assistance, our office is willing to guide you through the process.
If you have further questions, please call our office to schedule your free half-hour consultation: (605) 335-4008