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The Timeline Of A Chapter 7 Bankruptcy

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Timeline for Chapter 7 BankruptcyHere’s the timeline of a Chapter 7 bankruptcy so you’ll know what to expect. Don’t worry! I’ll be by your side all the way making sure things go smoothly.

By using this timeline of a Chapter 7 bankruptcy you can check these steps off one at a time. Before you know it, you’ll be debt free.

Meet With Me

First, we’ll meet and go over your particular financial circumstances. I’ll tell you how a Chapter 7 would work for you. Then I’ll answer all your question and explain bankruptcy alternatives to you. We can do this over the phone or you can meet with me in person.

For this meeting you‘ll also need to have a list of who you owe money to. (Most people just bring collection letters, lawsuits and monthly billing statements).

Pre-Filing Counseling Class

Before your case is filed you’ll need to complete a credit counseling session. This is a simple 60-minute process that results in a certificate that must be filed with the court. You should bring the certificate of completion to my office. You should also bring:
 

    • your past six months paycheck stubs
    • your last 2 years of state and federal income tax returns.
If you do not have copies of your tax returns, here’s how to get them … Read This >
 
Be assured that I’ll guide you through the Bankruptcy process. I want you to feel confident about your case.

Filing Your Case

I’ll prepare the official court documents for filing. These 60 to 70-plus pages of documents. They include

    • a list of your monthly income and expenses,
    • a list of your property and possessions along with values,
    • the names and addresses of your creditors.

Once your bankruptcy documents are prepared, you review them, sign them, and I file them with the court.

Creditors Stopped – Dead in Their Tracks

The moment I file your Bankruptcy case, the court issues what is called “the automatic stay”. This is a mandatory order from a federal court which forbids:

 

    • creditor harassment,
    • wage garnishment actions,
    • car repossessions,
    • lawsuits, and
    • IRS tax liens.
This means that your creditors are prohibited from even calling you or writing you.

For more information, Read This >

The Meeting of Creditors

Several days after your case is filed, you’ll receive a notice of filing bankruptcy from the court. This notice also contains a date and time for the required meeting of creditors. This meeting occurs about 35 days after your case is filed. You’ll need to bring your drivers license and social security card. It’s mandatory that you attend this meeting.
 
The purpose of this meeting of creditors is to give your creditors a chance to ask questions. Don’t worry! I’ll be there with you. You’ll never walk into court alone. I’ll have you thoroughly prepared for this important meeting with the trustee.
 
The 341 meeting of creditors is conducted by the bankruptcy trustee. The trustee will ask you to verify under oath that all the information in your court papers is correct. He may also inquire about particular items on your petition such as income or assets. It normally takes about 5 to 10 minutes.

For more information, Read This >

Financial Management Class

After your meeting of creditors, you are required to complete a financial management course. This course can be taken online. Failure to take this class will result in your bankruptcy case being dismissed. You’ll give the certificate of completion to me so it can be filed with the court.

For more information, Read This >

How Long Your Case Takes To Complete

In a Chapter 7, nothing else normally happens until 90 days later. At that time the court declares the case final and discharges your debts. The “Discharge of Debtor” is an order from a federal court which officially relieves you of any legal obligation to pay your bills. 

From start to finish the normal Chapter 7 bankruptcy lasts about 5 months.

So there you have it . . . the basic timeline of a normal Chapter 7 bankruptcy.

Perhaps you have some questions. You can reach my by phone at 760-523-9090. Or just click on the ORANGE “Contact Me” button at the top of your screen. I’ll contact you back and make arrangements to meet with you.

Talk with me. I’ll treat you like a friend.

For more information, Read This >

 

Law Office of Stephen Brittain
14028 Cicada Court, Victorville, CA 92394
Phone: 760-523-9090
Email: 760bankruptcy@gmail.com

DISCLAIMER: This message is intended as a general discussion of legal issues and not as a statement of fact, legal advice or a legal opinion. Personal opinions may also be expressed. No attorney-client relationship is created by this message. Do not act or rely upon law-related information in this communication without seeking the advice of an attorney licensed to practice in the relevant area.