How Do I File Bankruptcy?
Filing for bankruptcy can be a complicated process if you are asking yourself “how do I file for bankruptcy” then the first step is to sit down and speak with an experienced bankruptcy lawyer. An experienced bankruptcy lawyer can sit down with you and assess your financial situation. They can look at your income, debts, and assets and determine which chapter of bankruptcy you qualify for. Filing for bankruptcy can be complicated so I always suggest speaking with a bankruptcy lawyer.
Speak With A Bankruptcy Lawyer
Once you speak with a bankruptcy lawyer and decide which chapter of bankruptcy you will file, you will need to gather all of the necessary documents. Some of those documents include bills, taxes, paystubs etc. using these documents your attorney will be able to create a bankruptcy petition for you. The bankruptcy petition and the bankruptcy schedules that go along with your bankruptcy petition will list all of your personal information, debts, and assets. When the petition is completed your bankruptcy attorney will review it with you to ensure that everything is true and correct. Once your bankruptcy attorney reviews the petition, you will be able to sign it.
Complete the Bankruptcy Credit Counseling Course
In addition to gathering all of your bankruptcy documents, you will also have to complete a credit counseling course. The credit counseling course can be done at your own convenience in your home. In order for your attorney to be able to file the bankruptcy petition and schedules, the counseling course must be completed beforehand.
Once the petition is signed and you completed your counseling course your bankruptcy attorney will file it with the court. Once your case is filed you will be assigned a Trustee. A Trustee is an attorney who represents your creditors. Depending on your trustee he or she will require documents to be sent to them. Each trustee has their own way of receiving documents and their own set of documents they want to be sent to them. Your attorney will ensure that all of the documents your trustee requests are sent to them prior to the 341 meeting.
What to Expect at Your Bankruptcy Hearing
Next, you will attend a 341 meeting of creditors. At the meeting of creditors, you will be there with your bankruptcy attorney. Your attorney will and should prepare you for the meeting. There you will be questioned by the bankruptcy Trustee that was assigned to your case. The Trustee will ask you questions about the petition that was filed and make sure that everything in the petition that was listed was true and correct. Further, at the meeting of creditors, creditors are given a chance to object to your discharge (this rarely happens). Once the meeting is over the bankruptcy Trustee may close the case or ask for more documents to be sent to them. If the case is closed you will receive discharge papers within three months of the 341 meeting.
If you filed a chapter 13 bankruptcy, you will also have to attend a confirmation hearing. The confirmation hearing will confirm that you are able to make your plan payments.
If you are wondering how to file a bankruptcy petition you should go to your Bankruptcy Court website. Many bankruptcy websites have information available for pro se debtors. I strongly recommend you consult a bankruptcy attorney before representing yourself. Many times prose debtors don’t know the bankruptcy exemptions or bankruptcy rules. Knowing what is and isn’t allowed before filing bankruptcy is extremely important before you file your petition. Different issues may arise such as preferred payments you made to a creditor prior to filing, fraudulent transfers of property, or incorrect use of bankruptcy exemptions. When these issues arise the Trustee can sue you or someone you paid money to get that money back to pay your creditors. An experienced bankruptcy lawyer can help you file your bankruptcy petition and ensure that you won’t run into these issues when you file.
Karra L. Kingston Esq. Is an experienced New York bankruptcy lawyer and New Jersey bankruptcy lawyer. She has helped many individuals get out of debt and start their lives over. Contact Karra L. Kingston Esq. for a free bankruptcy consultation by calling (973)-979-9078 or emailing karra@klkbankruptcylawyer.com