Filing for Chapter 7 is something that will take approximately four to six months to complete, in most cases, and it will require a series of steps. Here are the main steps you will need to take if you decide to file for Chapter 7.
Meet With a Lawyer
The first step involves meeting with a lawyer to discuss your situation, learn more information, and find out if Chapter 7 is right for you. If you feel it is, the lawyer will complete a means test, which will help determine if you qualify for this branch. During this visit, you will learn about the process and find out what you must do to file.
Submit and Sign All Documents
The second step of bankruptcy is submitting all the documents your lawyer needs to fill out the paperwork needed for your case. This step can take about a week or so, depending on your situation. Once the paperwork is complete, you will need to pay the fees to your lawyer, and he or she will have you sign them. After signing them, the lawyer will submit them to the court for review.
Take Your Credit Counseling Courses
You will have to take two credit counseling classes in order to file for Chapter 7, and you must take one of these before you file the bankruptcy papers, and you will need to take the other course after you file the papers. Your lawyer will tell you how to go about taking these classes, and the company offering the classes will send your lawyer certificates after you complete both of them. You cannot proceed with your case until you complete these courses.
Attend the Meeting of the Creditors
The next step involved is a hearing you must attend, which is called a meeting of the creditors. At this hearing, a bankruptcy trustee will discuss your case with you and ask you questions about your finances, assets, and income. After asking you questions, the trustee may request additional documents for certain aspects of your case, and you will need to submit these.
Wait for the Discharge
Over the next few weeks and months, the trustee will work on processing your case. If everything checks out, the trustee will issue a discharge to you, and this offers forgiveness for all qualifying debts.
If you are in desperate need of debt relief, filing for Chapter 7 might be a good option for you. To find out, contact a chapter 7 bankruptcy law office today.