Posted on May 24, 2009 at 10:25 pm I live in PA, I will get  a lawyer, although I have no idea yet as to how to pay him. So before contacting one and get billed from a simple question, won't somebody answer it for me? I am willing to just submit to this bankruptcy procedure but I have no idea how long it is going to take to discharge. Obviously my life is going to be put on hold because of this...I just really want to know..how long it takes for a bankruptcy case to discharge.Thanks in advance

Posted on May 24, 2009 at 10:28 pm 4 months or in about  90 days from the filing date--in most states.

Posted on May 24, 2009 at 10:31 pm you will receive your discharge about 60 days after the meeting with the creditors. if your case does not have any complications, that is.Regarding the bankruptcy lawyer fees, I assume that you wont' be billed until the firm accepts your case...i think initial consultation is free

Posted on May 24, 2009 at 10:36 pm Do you know that bankruptcy is not your only option for getting out of debt? You can try debt settlement if your debt amounts to more than $10,000...the debt settlement company can handle your debt problems for you--as you are concerned about your life being put on hold if you file bankruptcy--at least if you let others handle it for you, then you'd be free to do whatever it is that you need to do. If you need to speak with a debt consultant, please feel free to fill out a form here at destroydebt.com, it is free of charge.

Posted on May 24, 2009 at 10:39 pm That's actually interesting.How much do you think these debt settlement companies would charge me for their services?And thanks everybody for the replies, 'appreciate 'em.

Posted on May 24, 2009 at 10:40 pm It differs per settlement company but it may be 15% of your total amount debt. That or 20-25% of the settlement amount.Don't forget to ask the settlement company their fee structures.

Posted on May 24, 2009 at 10:48 pm You might think that that's a bit steep but see how the debt settlement works is...-they negotiate with your creditors FOR you (to lower the amount that you will pay by 60%...more or less, it depends on the negotiation) The beauty of it all is that you are not going to be the one haggling with the creditors--it is the debt settlement company. -they would help you save the money that you pay the creditors and the money that you would pay them by guiding you in building up your savings either using your own savings account or an escrow account. either way, they would make sure that you would save.-if say your debt is $2k, and the negotiators were able to lower it down to $1k...you would pay the creditors $1k and the debt settlement company $200 (more or less)--depends on the company.

Posted on May 24, 2009 at 11:26 pm it says there on the form "get a free consultation" and "avoid bankruptcy" --are you absolutely sure that bankruptcy is the right solution for you? it stays in your credit report for 7 years...and public records for 10...'might make your life hellish those little details...

Posted on May 24, 2009 at 11:30 pm To correct fantasiabee- The industry average for debt settlement and the fees they charge is roughly 15% of the total debt amount. Some companies will charge a percentage of the actual settlement amount, and if that is the case, then you may see companies charging 20% of whatever they settle the debt for. But if they are charging a fee off of the actual debt amount you can expect that the percentage will be closer to 15%. If you are on the verge of bankruptcy, you need to ask yourself: 1) How much is it that I owe? Do I also have secured debts? 2) How much could I afford to pay monthly to my creditors? 3) Can I settle the debt with money I have (from savings, investment accounts etc.) If you do not owe alot, are not behind on any secured debts, and have some money saved up that is equivalent to 40-60% of what you owe, I would say that it is unecessary to file bankruptcy to eliminate the debt. You in this case should consider negotiating with the collector in an attempt to settle the debt or as clarksonkellyho fill out a form on the website to find out what your options are!

Posted on July 10, 2009 at 3:25 am Another question relative to How long does bankruptcy take to discharge is--How long does bankruptcy take(?) Or How quickly can you get the creditors off your  back(?) or  when will you be free from your debt(?)