AN OVERVIEW OF BANKRUPTCY
The Brewer Law Firm
William E. Brewer, Jr.
Attorney at Law
Toll Free: 800-899-3328
Mandi Poe – Secretary
Valerie Padilla-Legal Assistant
619 North Person Street Raleigh, North Carolina 27604
We are a debt relief agency. We help people file for bankruptcy under the Bankruptcy Code.
The purpose of this overview is to answer the questions about bankruptcy asked
most frequently by our clients and to provide an overview of the bankruptcy
process. The information contained herein will help you decide whether to
file bankruptcy or not. Bankruptcy has always been complex and was made
more complex by the enactment of new provisions to he Bankruptcy Code in
2005 pursuant to the Bankruptcy Abuse Prevention Act of 2005 (BAPCPA).
Additionally, BAPCPA is poorly drafted and contains numerous provisions that
are unclear. In this overview, we have tried to find a balance between removing
some of the complexities of the law without over-simplifying it. Reading and
studying this overview is just the first step in educating you. The next step is a
consultation with Mr. Brewer to discuss your particular situation.
WHAT IS BANKRUPTCY?
Bankruptcy is a proceeding under federal law whereby you are granted partial
or complete relief from the payment of your debts. This initial relief is provided
in the form of an “automatic stay” issued automatically and immediately upon
the filing of the bankruptcy petition which, with a few narrow exceptions, stops
all creditor collection activities. If you have been a debtor in a bankruptcy that
was dismissed within the last year, we may have to file a motion to keep this
automatic stay from expiring in 30 days from the date you file the bankruptcy.
The final relief comes at the end of the case when the ban