1. The Truth About Bankruptcy by Reed Allmand

2. Possible causes of bankruptcy: - Loss of a job - Illness of a spouse or child - Divorce - Poor money management Indicators you may need to file to for bankruptcy: - Living paycheck to paycheck - Routinely paying your bills late - Routinely overdrawing your checking account - All of your credit cards are maxed out - Behind on mortgage or car payments

3. Benefits of Bankruptcy: - Psychologically regaining control of your life - Preventing calls from Creditors and Bill Collectors - Restructure Secure Debt

4. Ignoring financial problems will only make them worse. - Constantly Harassment from Creditors - Collection Agency or Banks could potentially sue you. - Defaulting on a home mortgage = foreclosure - Defaulting on an auto loan = repossession

5. Other charges from ignoring financial charges - Attorney fees - Debt counseling fees - Payday Loan fees - Auto title loan fees Ignoring financial problems can results in - Foreclosure - Repossession - Garnishment

6. Bankruptcy can provide a fresh start - Chapter 7 Bankruptcy -Discharges most unsecured debt - Candidates must pass the Means Test - Qualification #1: Debtors must have an annual median income less than the state median income for a family of the equivalent size - Qualification #2: - Debtor’s income greater than median family income, -Debtor must pay a portion of unsecured debt - If debtor’s monthly expenses don’t require all available income, then debtor must pay a $100/month for six years into a Chapter 13 plan.

7. Chapter 13 Bankruptcy - Debt consolidation plan that allows debtor to restructure debt and pay back in 3 to 5 years. - Debtor must have enough income to cover all monthly expenses and pay into a Chapter 13 plan.

8. Bankruptcy Myths - Bankruptcy will hurt my credit for 10 years - Everyone will know I filed bankruptcy -I cannot filed bankruptcy because of BAPCPA - I am a bad person for filing bankruptcy - I can pick and choose what to include in my bankruptcy -It’s hard to file bankruptcy - I will never be able to own property again - I will lose everything I own

9. Bankruptcy Myths cont. - My spouse and I must file bankruptcy together - I can’t get rid of back taxes by filing bankruptcy - I can only file bankruptcy once - I can never get credit again - Only losers file bankruptcy - Creditors can still harass me after I file bankruptcy - Filing bankruptcy causes more family trouble and divorce

10. Choosing the Right Attorney - Hire an attorney referred by another attorney - Hire an attorney referred from the State Bar A good attorney will provide you information in preparation for the consultation

11. During the consultation ask the following questions: - Have many bankruptcy cases do you file each year? - How many cases have you successfully taken to discharge? - What percentage of your Chapter 13 cases get confirmed? Also consider: - What bankruptcy associations do you belong to? - Will you personally handle my case or will the bulk work be done by a paralegal? - How often will you communicate with me about the status of my case?

12. What to expect after hiring an attorney: - Retainer Agreement - Interview/Case Evaluation - Review of Documentation - Pre-Bankruptcy Counseling - Analysis of Legal Issues - Review of Auto and Home Owners Insurance Policies - Draft, Review, File the Petition - Serve Chapter 13 Plan - Pending Litigation

13. What to expect after hiring an attorney: - Meeting of Creditors - Pre-discharge Counseling - Trustee and Creditor Objections - The Confirmation Hearing - Defense of Actions by Creditors - Review Proofs of Claim - Reaffirmation of Debts - Lien Avoidance - Final Case Review - Miscellaneous

14. The Allmand & Lee Difference - Allmand & Lee understand the average person needs a bankruptcy attorney - Allmand and Lee’s priority is to make sure clients benefit from their services and receive a fresh start - Allmand & Lee have a high success rate and a wealth of bankruptcy case experience - Allmand & Lee are committed to helping as many clients as they can

15. The Allmand & Lee Difference - Over 20 years of consumer bankruptcy experience - Offers free phone consultation - Free online case evaluations