Some of the life’s most difficult decisions can be handled with a single decision to file a bankruptcy. Many people face unforeseen debts that they have no control over, you go to the hospital and in a short time find you have massive hospital bill debt. You get a divorce and discover the cost of solving one major problem is that you end up having to take all the credit card debts. Another area that is not discussed is that you are older and nearing or are at retirement age. This is when you want to consider getting rid of a life time of debt and start over with all your income going toward your future not your past creditors. A single filing will relieve you of a lifetime of debt and you can move on to a brighter future.
FILING BANKRUPTCY - A simplified timeline
Your case starts when you decide to eliminate all your unsecured debts. This is an important decision that will change your life. When you're ready, contact us to setup a free consultation.
When you make your first visit to our office we will discuss all the solutions for your debt problem. At this time you will learn the difference between Chapter 7 and Chapter 13 bankruptcy, With legal help from your attorney you can then decide which Chapter is best for your situation.
Once you decide what type of bankruptcy to file, you and our attorney can start the paperwork required to file bankruptcy. We will discuss everything you'll need to get started, and provide you with the forms you need to complete. It's important to understand all the information you must provide, as we cannot prepare the documents for your filing without you providing information on all the debts and assets you currently have in as much detail as possible. Unfortunately, this will be time consuming, but it is a necessary step to complete a bankruptcy.
Once you've completed your forms, we'll have you comes back for a second attorney consultation to review all the information and get any questions you may have about your documents and the procedure answered. The attorney takes over at this point and prepares the information into a Federal legal filing with all the schedules and required documents. You'll then make one last visit to your attorney to review the official filing and sign the filling for court.
The attorney then files the bankruptcy and will receive notice of the Meeting of Creditors that the client must attend with their attorney to answer any questions the Bankruptcy Trustee has over the filings. The Meeting of the creditors is the court appearance where all the creditors are invited to ask questions of the debtor to clarify any debt issues. The attorney assists you through this meeting and represents you to ensure that the bankruptcy is accepted by the court.
After the meeting of creditors is concluded the bankruptcy goes to the Bankruptcy Judge for approval and to sign an Order discharging all the debtors’ debts. This takes approximately 60 days. The Bankruptcy Judge signs the Order and the bankruptcy is completed. It should be noted that the bankruptcy dates back to the day the client filed the petition and is not related to the date the Judge signs the Order.
This is the general overview of what to expect when you decide to file for Bankruptcy.