Chapter 7 Bankruptcy FAQ's
What's happens?
Our office will collect certain documents and complete the appropriate filing for the courts. It's about a 1/4 inch thick. Independently, you will complete a "pre-filing debtor counseling".
Generally, you will not have to appear in court. We'll take care of the file administration for you directly with the court clerk. There will be a meeting called a Section 341 meeting where you will meet with the Trustee and you will be asked questions to determine if you have any assets. We will attend this with you. The creditors are also notified of this meeting but generally they are not present. Then you complete another round of debtor counseling. About 30-60 days afterwards, you will be issued your court order discharging your debt.
What debts are not discharged?
Chapter 7 Bankruptcy discharges most debt but there is some debt which is not eligible. If you have a secured debt such as an automobile or home, you must continue paying on it if you wish to keep it. Several other classes of debts such as student loans, parking tickets, fines, taxes less than 3-years old, child support and alimony are also not dischargeable. At times, recent large purchases on credit and recent credit used to support yourself may not be dischargeable. We will review your situation with you.
Can I file Bankruptcy on my own?
Yes you can. You can find some resources to help filing a bankruptcy without an attorney by clicking here. It is very important that a bankruptcy case be filed and handled correctly. The rules are very technical, and a misstep may affect a debtor's rights. For example, a debtor whose case is dismissed for failure to file a required document. We do offer petition-only filing services at a reduced cost.
Let us help streamline the process for you. Give us a call. We'll help you.