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Bankruptcy Filing Process

by | Sep 30, 2019 | Bankruptcy Articles

We would love to help you understand your options and assist you with moving forward down the road you chose. You will need to gather your financial information for the past two years and itemize your income, expenses, assets, and liabilities. We can assist you with this process if you need help.
We will evaluate the information you provide and meet with you to discuss your various options so you can decide which course of action is most favorable for you. In some cases, there may be adequate remedies available so you can avoid filing bankruptcy all together, in other situations we will help you understand the pros and cons of filing a Chapter 7 or Chapter 13 bankruptcy.

Credit Counseling Course

You will be required to complete a credit 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.

Your Creditors

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 Bankruptcy 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 creditor 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 automatic stay against the creditor that continues to harass you, and possibly seek monetary damages from that creditor.

All of the required schedules and documents must be filed with the Court within 14 days of the date you file your bankruptcy petition. These documents include schedules of assets and liabilities, and your repayment plan if you file for a Chapter 13 bankruptcy.

Within 30 days after filing bankruptcy a Statement of Intention 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 trustee 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.

Bankruptcy Discharge

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 discharge. 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.

We can help.


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HALLSTROM KLEIN & WARD LLP
IRVINE, ORANGE COUNTY, CA
(949) 450-8500
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