After a lot of careful consideration, you’ve finally made the tough decision to file for bankruptcy for one personal reason or another. Now you need to find a bankruptcy lawyer to help you get started. You’d also like to learn a little bit more about the bankruptcy process itself.
The process of filing for bankruptcy may feel intimidating, but you’ve made a smart choice to resolve unmanageable debt. You’re now on your way to becoming debt-free with the assistance of a lawyer who specializes in the entire bankruptcy process from beginning to end.
Your bankruptcy attorney will work hard to ensure that this is as stress-free of an experience as possible for you.
The Bankruptcy Process
This is what you can generally expect from the bankruptcy process:
Step 1 – Finding an Attorney: Once you’ve found a competent bankruptcy lawyer, you’ll then contact the lawyer to set up a consultation. When you meet with your lawyer, you’ll discuss your personal reasons for filing for bankruptcy.
The attorney will also give you a bankruptcy packet to complete. You can complete this packet at home and when it’s time to return the packet, you’ll return it with other important paperwork that the attorney has requested you to gather.
Step 2 – Consumer Credit Counseling Class: Before actually filing your petition for bankruptcy, you’ll have to complete a consumer credit counseling class. It’s the law. When you finish the class, you’ll receive a certificate of completion that you’ll then supply to your attorney.
Step 3 – Petition Preparation: During step 3, your attorney prepares your bankruptcy petition. All you have to do during this step is to meet with the attorney to sign your bankruptcy petition.
Step 4 – Filing: The bankruptcy lawyer will now file your petition. You’ll receive a letter in the mail from your attorney with pertinent information regarding your case and the filing of the petition. Your creditors will be notified of your decision to file for bankruptcy by the court.
Step 5 – Meeting of Creditors: About 4-6 weeks following the filing of your petition, the Meeting of Creditors will then take place. You’ll be prepared for this meeting by your attorney beforehand and your attorney will be with you when the meeting takes place.
Step 6 – Post-Bankruptcy Financial Management Class: You’ve completed the hard part of filing. About 30-60 days following the Meeting of Creditors, you’ll have to take the Post-Bankruptcy Financial Management Class. As with the Consumer Credit Counseling Class, you’ll have to provide your attorney with a copy of your certificate of completion.
Depending upon the chapter of bankruptcy that you have filed with your attorney, this process may take a little longer. Regardless of which chapter you need to file, your attorney will make sure that the road to becoming debt-free is a smooth and stress-free experience for you.