Worcester Bankruptcy Lawyer

The Bankruptcy Process

Much of the fear or apprehension of bankruptcy comes from not understanding what the process involves and how it is actually administered. The bankruptcy process for Chapter 7 is as follows:

  • Meeting with a well-qualified bankruptcy attorney
  • Taking a credit counseling course within 180 days of filing
  • Providing to your attorney your financial records
  • Filing your petition, schedules, and Statement of Financial Affairs with the bankruptcy court - at this point, the automatic stay keeps your creditors or debt collectors from continuing their collection actions against you , including stopping phone calls, collection letters and even stopping foreclosure the same day
  • Meeting with your bankruptcy trustee
  • Attending a creditor meeting - this meeting allows your creditors to voice any objections about the discharge of your debt (for example, if they believe you are committing fraud in filing for bankruptcy). If an objection is filed, there will be a trial, though it is possible to avoid that by settling the case.
  • Taking a financial management course
  • Discharge of your debt - this typically occurs 75 days after you have filed your petition

The bankruptcy process for Chapter 13 includes:

  • Meeting with a well-qualified bankruptcy attorney
  • Taking a credit counseling course within 180 days of filing
  • Providing to your attorney your financial records
  • Filing your petition, schedules, tax returns, and Statement of Financial Affairs with the court
  • Filing your payment plan with the court
  • Meeting with your bankruptcy trustee
  • Addressing any objections to your plan by creditors
  • Attending a plan confirmation meeting
  • Making your payments - the first payment of your payment plan is due within 30 days of your case being filed
  • Discharge of your debt - This occurs at the termination of your payment plan. Discharge typically takes between three to five years for bankruptcy cases.

If you require further information about the bankruptcy process, contact a Worcester bankruptcy lawyer right away.

Legal Help for Chapter 7 and Chapter 13 Bankruptcy

At Law Office of Robert W. Kovacs, JR., we provide guidance and support in a variety of bankruptcy cases, including those involving Chapter 7 and Chapter 13 filings. Our substantial knowledge of bankruptcy law allows us to make bankruptcy a swift and relatively pain-free proposition for our clients. If you are considering bankruptcy, contact our offices, and we will review your financial situation in order to help you come to a decision regarding whether or not to file.

Considering bankruptcy? Contact a Worcester bankruptcy attorneywho can provide you with information about what the process involves.

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