Bankruptcy Filing Process
Credit Counseling Course
You will be required to complete a Generally refers to two events in individual bankruptcy cases: (1) the "individual or group briefing" from a nonprofit budget and credit counseling agency that individual debtors must attend prior to filing under any chapter of the Bankruptcy Code; and (2) the "instructional course in personal financial management" in chapters 7 and 13 that an individual debtor must complete before a discharge is entered. There are exceptions to both requirements for certain categories of debtors, exigent circumstances, or if the U.S. trustee or bankruptcy administrator have determined that there are insufficient approved credit counseling agencies available to provide the necessary counseling. course and receive a certificate of completion from an approved provider before any bankruptcy filing can be made. This course must be completed within 180 days prior to filing for bankruptcy protection. We will provide you with the information regarding this counseling course, and register you for an appropriate course. Visit http://www.startfreshtoday.com and contact us for a User Name and Password.
Once you have retained our firm to represent you, we will determine which of your assets are exempt from seizure in the bankruptcy and complete the required forms to file with the court to start your bankruptcy.
The The bankruptcy judges in regular active service in each district; a unit of the district court. will notify your creditors that you have filed bankruptcy. It will take a few days for your creditors to receive this notice. If there is an emergency situation, we will notify the One to whom the debtor owes money or who claims to be owed money by the debtor. directly. All collection efforts should stop immediately. During the bankruptcy we will then deal directly with your creditors instead of you. If any creditor continues to contact you to collect your debt, please notify our office immediately and we will demand that they cease and desist, and if we feel it is appropriate we will go to court to seek enforcement of the An injunction that automatically stops lawsuits, foreclosures, garnishments, and all collection activity against the debtor the moment a bankruptcy petition is filed. Click for more: Stop Foreclosure & Wage Garnishments against the creditor that continues to harass you, and possibly seek monetary damages from that creditor.
All of the required Detailed lists filed by the debtor along with (or shortly after filing) the petition showing the debtor’s assets, liabilities, and other financial information. (There are official forms a debtor must use.) and documents must be filed with the Court within 14 days of the date you file your The document filed by the debtor (in a voluntary case) or by creditors (in an involuntary case) by which opens the bankruptcy case. (There are official forms for bankruptcy petitions.). These documents include schedules of assets and liabilities, and your repayment A debtor’s detailed description of how the debtor proposes to pay creditors’ claims over a fixed period of time. if you file for a Chapter 13 bankruptcy.
Within 30 days after filing bankruptcy a A declaration made by a chapter 7 debtor concerning plans for dealing with consumer debts that are secured by property of the estate. regarding your property is due if you filed under Chapter 7, and if you filed Chapter 13 then your first payment on your plan is due.
Within about 4-6 weeks after your bankruptcy is filed, you must personally attend a mandatory meeting of creditors with the bankruptcy The representative of the bankruptcy estate who exercises statutory powers, principally for the benefit of the unsecured creditors, under the general supervision of the court and the direct supervision of the U.S. trustee or bankruptcy administrator. The trustee is a private individual or corporation appointed in all chapter 7, chapter 12, and chapter 13 cases and some chapter 11 cases. The trustee’s responsibilities include reviewing the debtor’s petition and schedules and bringing actions against creditors or the debtor to recover property of the bankruptcy estate. In chapter 7, the trustee liquidates property of the estate, and makes distributions to creditors. Trustees in chapter 12 and 13 have similar duties to a chapter 7 trustee and the additional responsibilities of overseeing to confirm the good faith of your filing. Creditors who wish to object to your bankruptcy filing may appear at this meeting, but this is very rare.
If you filed a Chapter 7 bankruptcy in Orange County, usually within 45 days after the meeting with the trustee, you must complete a financial management course and the certificate must be filed with the Court for you to receive your A release of a debtor from personal liability for certain dischargeable debts set forth in the Bankruptcy Code. (A discharge releases a debtor from personal liability for certain debts known as dischargeable debts and prevents the creditors owed those debts from taking any action against the debtor to collect the debts. The discharge also prohibits creditors from communicating with the debtor regarding the debt, including telephone calls, letters, and personal contact.) Click for more: The Discharge Video. We will provide you with the necessary information regarding this course.
Your debts will usually be discharged within about 60-90 days after the meeting with the trustee if you filed a Chapter 7 and if no objections are made.
If you filed a Chapter 13, your remaining debts will be discharged in approximately 3 to 5 years after meeting, assuming no objects are made and you made your payments under the plan.
If you filed a Chapter 13, you must complete a financial management course and the certificate must be filed with the Court 3 months before you receive your discharge of the remaining debts. You may get information regarding this course from us or from your Chapter 13 trustee.
Attorneys at Hallstrom, Klein & Ward LLP understand that bankruptcy is a difficult time both financially and emotionally. This is why they thoroughly explain how long the bankruptcy will take, the steps of the process, and the services they offer. If you are thinking about filing for bankruptcy in Orange County, explore the information listed below to learn more about what to expect. However, only a personal consultation with an experienced attorney can help you determine the precise process and timeline of your bankruptcy.
Contact us by calling (949) 450-8500 today to schedule your FREE consultation.