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Determine if Bankruptcy is your only option
Have your case evaluated
for free by using the form on this website. One of our
Attorneys will contact you to discuss your situation and put
you in touch with an Attorney in your area. There is no obligation.
If it is determined that filing is in your best interests,
you may choose to schedule an appointment with an Attorney
to go over your financial situation in more detail.
Obtain the services of an Attorney
If you do choose to file, it is important to have an attorney
at each stage of the process. Your attorney will alleviate
the stress of filing for bankruptcy while providing the necessary
representation to protect your interests. Once a bankruptcy
is filed, everything you own or have a claim to becomes part
of the bankruptcy estate. The Court will appoint a trustee
to analyze and administer your estate which includes the majority
of your assets and liabilities. The Trustee is most likely
an attorney as well, therefore you will need the assistance
of an attorney on your side to help protect your assets against
the claims of the Trustee. This requires experience, knowledge
of the law, diligent research, effective planning and time.
To Find a competent Attorney in your area, contact
us.
Filing your Case
Once you choose to file, a face to face meeting
with your Attorney to go over your financial situation in
more detail occurs at this time. This typically involves bringing
with you all pertinent bills, pay stubs, and other documentation
to file the petition with the local court. Your Attorney will
draw up the necessary documents and will file them with the
court on your behalf.
Once the documents have been received, the
Court will also send a letter to your creditors notifying
them that a Chapter 13 bankruptcy has been filed. At this
point, creditors are required to discontinue any communications
with you. This is known in Bankruptcy as the Automatic Stay.
Once the Automatic Stay takes effect, creditors will no longer
be able to:
- Continue foreclosure proceedings against your home.
- Continue a repossession action against your car or other
property.
- Send Collection letters.
- Continue making harassing phone calls.
- Begin or continue to garnish your wages.
- Begin or continue to sue you.
An experienced attorney can help protect you
from any violations of the automatic stay.
Meeting Of Creditors (typically 4 weeks
after filing)
The next step in the process is a meeting with
the trustee pursuant to section 341a of the bankruptcy code,
also known as the Meeting of Creditors. You and your Attorney
will be required to attend. After the meeting is conducted,
the trustee will make a recommendation to the court on the
administration of the estate. During this process, you have
certain rights and protections that will need to be guarded.
This can be done through effective bankruptcy planning and
strong representation.
Discharge
The last step in the bankruptcy process is
the discharge. The discharge is typically issued 90 days after
the bankruptcy is filed. The discharge is the main reason
people file for bankruptcy. It is the official cancellation
of the debts pursuant to section 727 of the bankruptcy code.
It includes any debts that do not survive the bankruptcy.
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