The Chapter 7 Bankruptcy Process
While you may have made the decision to file bankruptcy, you may still have questions concerning the process. Total Lawyers is your information source!
Not only will we explain the Chapter 7 bankruptcy process to you, but we will also help you find legal help.
All you have to do is give us a call at 1 (877) 349-1309 or complete our free bankruptcy evaluation form.
We'll immediately connect you with an bankruptcy attorney in your area. It's just that simple!
Understanding the Chapter 7 Bankruptcy Process
Taking control of your finances has become a major priority for you.
As you seek to rebuild your financial security, understanding the Chapter 7 bankruptcy process is definitely high on your to-do list.
Total Lawyers is here to give you clear and accurate information to make informed decisions about your filing.
What to Do Before You File Your Petition
Prior to filing your petition, make sure you do the following:
- Arrange to meet with your bankruptcy lawyer, so that you can provide the information needed to complete the petition and schedules. This includes a list of the property you currently own and its value, a list of creditors you owe and payments you have made, employment or other income information, and anything else your bankruptcy attorney requests.
- Complete a Credit Counseling Briefing approved by a U.S. Trustee and give the certificate of completion to your lawyer to file with your petition.
Once you've taken these steps, your bankruptcy lawyer can file your petition and credit counseling certificate with the court to start your bankruptcy proceeding.
After Your Chapter 7 Petition is Filed
Once your bankruptcy lawyer has filed your bankruptcy petition, you're well on your way. When your petition has been filed, here's what will happen:
- The court will grant you an "automatic stay," which will prohibit creditors from collecting any debt and taking any legal action against you.
- Your creditors will receive a notice of your case.
The court will appoint a federal employee called a "trustee" to oversee your case. Your trustee will monitor your case, review your petition, ensure that you qualify for Chapter 7 bankruptcy, and, when satisfied that everything is in order, schedule a meeting of your creditors.
The Timeline
When your petition has been filed, you and your bankruptcy lawyer can expect:
- Within 15 days, to file any schedules not filed with the petition.
- Within 30 days, to file a Statement of Intention regarding any secured property.
- About 6 weeks from filing, to attend the Meeting of Creditors.
At some point between your filing and your discharge, you'll have to complete a U.S. Trustee-approved Debtor Education course.
Finally, if there are no disputes or objections in your case, you should receive your Chapter 7 discharge as early as three and a half months after the filing of your petition.
Still Have Questions?
Get in touch with us today! You can fill out our secure and confidential online case evaluation form to set up a free, no-obligation consultation with one of our sponsoring lawyers. You can also call our toll-free 24-hour hotline at 1 (877) 349-1309.
