Natalia Brown
speaker
86 appearances
2 recordings
1 series
first heard Dec 2022
last heard Dec 2022
Natalia Brown’s voice in public audio — every appearance, attributed to the second.
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Appearances
You're going to have strangers going into your financial background and then deciding for you what's going to happen next as far as how much is going to be paid or what might be sold to pay off debts.
And that once you file, that is no longer your choice, right?
It becomes a judge decree depending on the information that's provided.
Correct.
And there's also an upfront cost that needs attention as well, because bankruptcy has an upfront cost of anywhere between $1,000 or $3,000, depending on where you are and what type of bankruptcy you're filing.
So it's really important to also still kind of have some savings so you actually afford the attorney to file that bankruptcy for you.
That is really dependent on the individual.
If there are no assets and there's no income per se, it could be a fairly quick process.
It's just a matter of getting scheduled and in front of a judge.
If there is a lot of income or a lot of assets and a lot of debt in a myriad of places, it's really going to take a lot longer to kind of make sure that the attorney can
locate and understand what all the debts are.
It also takes a little bit longer because a lot of people don't know where everything is.
So there might be a little bit of an investigative process to find out what assets exist.
And that can be pretty extensive.
Once all of that's done, and it's really just getting scheduled in front of the judge, they get presented with the information, and then they decide.
And from that decision, it can take years, right?
Depending on how long it takes to sell an asset.
It could be very quick if there are no assets.
So it really depends on individual situations and what they have and what they're entering into the bankruptcy.
There's definitely a huge risk when it comes to your credit profile.
Showing 41–60 of 86 · page 3 of 5
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