The Bankruptcy Process
After you’ve had your initial consultation with us, you’ll then have to complete credit counseling. This can be done over the phone or via Internet. The course is designed to help you learn the basics of developing a budget and bankruptcy plan.
The next step is developing a bankruptcy petition. This petition will be created from information gathered during your consultation. Once complete, you will review and sign the petition. You will be allowed to review your petition before starting the next step, completing the actual filing. Our attorney will file your petition and assign your case to a bankruptcy trustee.
For clients who file for Chapter 13 bankruptcy, you’ll then begin paying your monthly payments. Your first payment will need to be submitted 30 days after your filing. Next, you’ll be required to attend a brief meeting with your trustee and any creditors who choose to attend. This meeting is done approximately 45 days after filing.
The last step of the bankruptcy process is to complete a consumer debt education class. For Chapter 7 filers, all of your dischargeable debt will be discharged within 90 days of completing the class. For Chapter 13 filers, you must complete the class prior to bankruptcy plan completion (three or five years).