The Bankruptcy Timeline

Bankruptcy Attorney

If you are considering filing for bankruptcy, it is important to understand the process and what the timeline is. Although you are not required to use an attorney's services in a bankruptcy filing, most people find that the process is extremely confusing and complex, and they may intend to move forward but the papers end up gathering dust, and their financial scene deteriorates further. When you have legal assistance from abankruptcy lawyer from Bizar & Doyle, you can rest assured that the filing is done correctly and you won't file incorrect paperwork. This is particularly important under the current laws, as every part of the filing must be accurate - under penalty of law. Our attorneys can guide you through the process and carefully and correctly draft and file all the necessary and extensive documentation.

What is the bankruptcy timeline?

As the case progresses through the system, it follows as specific timeline. The first step is the "means test" which determines your eligibility in filing Chapter 7 bankruptcy. In cases in which the individual is not eligible, they can often file for Chapter 13, an excellent option if you are working and making a paycheck. The legal team at our firm will assist you with the means test, as it is vital that it is filled out correctly and without any errors. You will also be required to take credit counseling prior to filing for bankruptcy. This is easy to do with certain online services that are accredited by the government. This a short credit counseling class, and will take very little time.

Once the petition is filed, along with the other necessary documents, you will wait approximately one month. Then you will be required to attend a meeting of creditors with the Trustee. Our attorney will accompany you to this meeting, which is usually very short, and there are rarely any creditors that actually attend. Once this meeting is complete, your creditors have 60 days in which to file a complaint objecting to having their debt discharges. This rarely occurs. Once the 60 days is over, your petition proceeds to discharge of debt. You will receive a notice that tells you that your debts have been discharged and you are now free to move forward with a fresh start and a new financial future.

Contact a Bankruptcy Attorney to determine how your bankruptcy will proceed through the process and to get assistance in filing it correctly.