Bankruptcy is a powerful tool that allows you to stop collection calls, regain financial control, and help begin rebuilding for the future. Catching a few bad breaks and falling on hard times does not need to define the rest of your life. Bankruptcy gives you the opportunity to press pause on your obligations, discharge the personal obligations on your debts (with certain exceptions), and move on.
The process may seem complicated and intimidating, but with the help of our firm, we can help guide you to a more stable financial future in just a few months.
In most chapter 7 bankruptcy cases, there are just eight steps:
- Initial Consultation
We will meet in person, by phone, or by video chat (whichever you prefer) to discuss your situation and your goals moving forward. We then will discuss next steps and invite you to our Client Portal.
- Credit Counseling
By law, you are required to complete two credit-counseling courses to file for bankruptcy, one before filing a voluntary petition and one at the end of your case. To make things as easy as possible, these courses can be taken through our Client Portal.
- Preparing the Petition
This is the most intense stage of any bankruptcy filing. At this stage, we will work with you to compile a thorough financial picture of all your debts and assets. Our online Client Portal makes this process as simple as possible by guiding you step by step through everything you need to do. We then will meet a second time to review your materials and make sure everything is perfect and ready to file.
Once everything is in order, we will file your petition, including all schedules, notices, and documents, with the Bankruptcy Court. As soon as you file, a notice will be sent to all of your creditors that includes an order for them to stop all collection activity immediately.
- Responding to the Trustee
As soon as your petition is filed, your case will be assigned to a trustee (the individual that will manage your estate in bankruptcy). The trustee will provide you with a series of additional questions regarding your case and your financial condition, and we will assist you in responding to those questions.
- 341 Hearing
The next step is a formal meeting (“hearing”) with the trustee. This hearing provides the trustee with an opportunity to ask you any remaining questions that he or she has about your case or your financial condition. It normally is only a few minutes long, and typically is the only time you are required to attend any sort of proceeding.
- Sixty-Day Wait
Following the 341 hearing, you then need to wait sixty days to give any creditors the opportunity to object to your discharge — though objections are not common.
After sixty days, if no creditors object and the trustee has no further questions, a discharge is granted and you will be free to start building for the future.
To schedule an initial consultation, contact John G. Anderson by phone at (520) 721-1900 ext. 216, or by email at email@example.com.