How to Start Filing for Bankruptcy

Every case is unique, but bankruptcy cases usually follow these steps:

Step One: Obtain Mandatory Credit Counseling. If you want to file for bankruptcy, you must obtain credit counseling from an approved provider. This has to happen within 180 days before you file your case. An attorney can help you complete this requirement.

Step Two: Determine which type of bankruptcy you want to file. Chapter 7 or 13. An attorney can help explain the differences between Chapter 7 and Chapter 13.

Step Three: Fill out all the required legal paperwork. This is an extensive list that includes petitions and bankruptcy schedules that list of ALL property/assets owned and debts owed, all of your creditors, all of your current income, all of your assets and liabilities, all of your expenditures, and a statement of financial affairs, among other schedules. It is very important that you list everything in these documents. You could also be liable for bankruptcy fraud if you don’t list everything.

Step Four: File the papers with the court. Immediately after you file, you receive an automatic stay. This legally prohibits creditors from contacting you. It also usually stops foreclosure, repossession and wage garnishment.

Step Five: Meet with Creditors and the Bankruptcy Trustee. You must meet with creditors. Your attorney can set this up. Usually it’s a quick meeting.

Step Six: Obtain Debtor Education. Just like the pre-filing credit counseling, you must also complete a debtor education course. It’s meant to help you exit the bankruptcy process and prevent another bankruptcy.

Step Seven: Receive your bankruptcy discharge!

As you can see, bankruptcy is not a simple filing process. A bankruptcy attorney can help you through the process. You want to make sure that you file everything correctly.

Fill out the form below for a Free No Obligation Bankruptcy Case Evaluation by a local attorney.

Free Case Evaluation By an Attorney

It’s hard to know whether bankruptcy is right for you. There are a lot of things to consider, such as:

  • do you have the “right” kind of debt to file?
  • do you own a home?
  • can you afford to file bankruptcy?
  • is Chapter 7 or 13 better?
  • what will happen to your credit?

You can ask an attorney these questions for free today. Fill out the below form today: