The Bankruptcy Process
Bankruptcy Lawyer
The bankruptcy process may seem very complicated and challenging. Nevertheless with the help of a bankruptcy attorney at Price Law Group, you may proceed through your bankruptcy with the confidence that you are doing the right thing and that it is being done correctly. There are two main forms of bankruptcy that individuals and families use, Chapter 7 and Chapter 13. Under Chapter 7, you seek to
discharge your debt. Under Chapter 13 you agree to a payment plan over three to five years to pay off your debts while under bankruptcy court protection.
Bankruptcy Steps
Below are the steps for Chapter 7 and Chapter 13 bankruptcy:
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Consult with Attorney: You go over your debt situation with us and we advise you of your options. If you chose to file either Chapter 7 or Chapter 13, we professionally prepare your documents.
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File the Bankruptcy: We file your bankruptcy. Your creditors are notified and must cease any collection action against you.
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Meeting of Creditors: Within 30 to 45 days after the filing, you have a meeting of creditors. The bankruptcy trustee interviews you about your petition and any creditors present may also ask questions.
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Filing of Objections: Under Chapter 7, your creditors have an opportunity to file objections to discharge of obligations. If they do so, an adversary hearing is scheduled.
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Chapter 7 Discharge: Upon handling of any objections, the court discharges your debts. This usually happens within 6 months of your filing.
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Chapter 13 Payments: Under Chapter 13, the bankruptcy trustee takes your monthly payments and makes regular distributions to creditors. This will go on for three to five years until you complete your payment plan.
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Chapter 13 Discharge: Upon completion of your payment plan, the court issues a discharge of any remaining unsecured debts you may have.
Contact a Bankruptcy Attorney
We encourage you to contact a bankruptcy attorney at the firm to discuss your debt situation. We will go over the alternatives to bankruptcy as well as the
benefits of bankruptcy with you and advise as your options. We will then help you carry out your plans. If you choose bankruptcy, we will prepare your papers and guide you through the process.
Contact a Bankruptcy Lawyer
at the firm to discuss the bankruptcy process.