By Cara O'Neill, Esq.
If you have any questions, take the list with you when you meet with your attorney. Using it as a guide will help you clarify any questions you may have about the process.
10 Key Steps to the Bankruptcy Process:
1. Client assembles financial documents;
2. Attorney and client meet to review the documents and discuss the appropriateness of filing bankruptcy;
3. Attorney prepares bankruptcy petition and client takes first online credit counseling course;
4. Attorney and client review petition, and if accurate, the client signs the petition and the attorney files it with the court;
5. Attorney sends out urgent notices to collectors, such as with pending foreclosures or repossessions (this does not happen in all cases);
6. The court sends notices to all creditors, assigns a bankruptcy trustee, and sets the date for the §341 Meeting of Creditors;
7. Attorney sends supporting financial documentation to the bankruptcy trustee;
8. Attorney and client attend the §341 Meeting of Creditors located on the 7th Floor at the Federal Courthouse located at 501 I St # 3200 Sacramento, CA 95814;
9. Client takes second online debt management course; and
10. Attorney provides second course certificate to court and additional documents to the bankruptcy trustee, if needed.
After approximately two months, both the attorney and client receive notification of a discharge of all eligible debts and the case is closed. The process, from start to finish, takes about four-and-half months.
While this is a generalized overview, most bankruptcies follow this course. However, issues can and do arise depending upon the particular case which require additional appearances before the bankruptcy trustee. Your attorney will keep you advised of any deviations and recommend the appropriate course of action.
Tags: Chapter 7 Bankruptcy, Guide to Filing Bankruptcy, Filing Chapter 7