If all you know about bankruptcy is that it can make your debts go away and you get a clean slate, then you’re thinking about a Chapter 7 case. It is the most common type of bankruptcy because it can apply to virtually anyone. The other types of bankruptcies are for municipalities, farmers, business owners, or foreign debtors. A Chapter 7 bankruptcy is the best way to seek protection against creditors and take control of your financial affairs. It’s a way to stop feeling overwhelmed by wiping out bills you can’t pay down or may ever pay off.
A typical Chapter 7 bankruptcy case will last a total of 3-4 months, however, some can be prepared and resolved faster and some may take longer. It will depend on your current situation and whether you have any urgency. Your case will begin with a phone consultation to discuss your financials and intentions. Upon providing you with information about your options, you will receive a bankruptcy questionnaire to fill out online. Once you have completed the questionnaire, we will review your answers, discuss a plan, and if you are ready, begin the petition to be filed. Before the petition can be filed, you will need to complete a credit counseling class. We will review your petition and submit through the bankruptcy court’s electronic filing system. A United States Bankruptcy Trustee will be assigned to your case and a 341 hearing, also known as a “meeting of creditors”, will be scheduled which you will attend with me. After the hearing, you will receive a discharge of all your debts listed in the petition in about 60 days. Before you receive the discharge, you must complete a post-341 hearing debtor education class that I will file for you. Our firm has handled countless bankruptcy cases and we will guide you through this process and help get you the financial freedom you deserve.