Consumer Bankruptcy
FAQs
FAQs
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCAP) does not affect your right to file for bankruptcy protection under either Chapter 7 or Chapter 13.
Will bankruptcy stop foreclosure?
Yes! Both Chapter 7 and Chapter 13 stop foreclosure allowing you to remain in your home. There are many opportunities to keep your home. You do not have to lose possession of your home. Save your equity. Call today!
What are the fees for filing bankruptcy?
The Bankruptcy Court charges $299 to file Chapter 7 and $274 to file Chapter 13.
What does the Hume Law Firm charge?
The Hume Law Firm charges $1,150 to file a simple Chapter 7 bankruptcy and $2,300 to file a Chapter 13 bankruptcy. In a Chapter 13, the Hume Law Firm may petition the Bankruptcy Court for additional fees.
What is the Means Test?
What about taxes?
Under the "means test," your average monthly income for the past six months is calculated and, if less than the median income for New Mexico, you may file for Chapter 7. If your household income is more than the median for New Mexico, a presumption is raised that you should be able to pay your debts and should file Chapter 13. However, the presumption is rebuttable and the vast majority of New Mexico bankruptcies filed under the means test have been Chapter 7. Hume Law Firm will recommend the best course of action.
We will obtain a copy of your tax returns for the past two years before you can file bankruptcy for a cost of $38. Some taxes may be dischargeable in bankruptcy.
What is credit counseling and financial management classes?
Under the BAPCPA, you are required to undergo credit counseling prior to filing bankruptcy and then a debt management class after filing but before your debts may be discharged.
Will bankruptcy stop eviction from an apartment?
No. Under the BAPCPA, filing bankrutpcy will no longer delay or stop evictions, driver's license suspension, legal actions for child support or divorce proceedings.
Will bankruptcy stop garnishment?
Yes! Both Chapter 7 and Chapter 13 can stop garnishments. Call today!
Do I need a credit report?
Yes. The Hume Law Firm will obtain a credit report for you. There is a $40 charge, per debtor.
