Short Summary-Bankruptcy Process

1. Pre-bankruptcy Credit Counseling: Before filing for bankruptcy, debtors must complete a pre-bankruptcy credit counseling course from an approved agency. The certificate of completion must be filed with the court as part of the bankruptcy petition.

2. Filing the Petition: The debtor must file a bankruptcy petition with the court, along with schedules of assets, liabilities, income, and expenses, as well as other required documents.

3. Automatic Stay: Upon filing the bankruptcy petition, an automatic stay is put in place that prohibits most creditors from taking collection actions against the debtor, including foreclosures, repossessions, and wage garnishments.

4. Meeting of Creditors: A meeting of creditors, also known as a 341 meeting, is held approximately 20-40 days after the bankruptcy petition is filed. At the meeting, the debtor is questioned by the trustee and creditors about their financial affairs.

5. Discharge: If the bankruptcy is successful, the debtor will receive a discharge of their eligible debts. Certain debts, such as taxes and student loans except in rare circumstances, may not be discharged.

6. Case Closure: After the discharge is granted, the case is closed.

Fogt Law Can Help

Attorney Christopher Fogt will guide you throughout the process. He will stop the annoying phone calls from collections agencies, and prepare and file all legal documents with the court. Attorney Fogt has the knowledge, experience, and skill to make sure you have a fresh financial start.