The Bankruptcy Process
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.
Below are the steps for Chapter 7 and Chapter 13 bankruptcy:
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.
File the Bankruptcy: We file your bankruptcy. Your creditors are notified and must cease any
collection action against you.
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.
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.
Chapter 7 Discharge: Upon handling of any objections, the court discharges your debts. This
usually happens within 6 months of your filing.
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.
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.
For more information call us at 866-210-1722 or fill out the form below.