TAMPA BANKRUPTCY ATTORNEYS
A BRIEF OVERVIEW OF THE BANKRUPTCY PROCESS
People often want to know, what happens in a bankruptcy case?
This is a brief overview of the bankruptcy process. Each situation is different so each bankruptcy case can be a little different. This is meant only to give general information about the bankruptcy process.
At the end of the initial consultation, if you decide to proceed with filing bankruptcy, you will be given a packet of paperwork. It will seem like a great deal of paperwork with a great deal of information, but do not worry. We review all of the paperwork with you and you will have many opportunities to ask any questions that you have.
When you decide to file bankruptcy, you will be given a list of documents that you will need to bring to us. These documents include, but are not limited to, a copy of your credit report, pay stubs, bank statements, registrations and titles to any vehicles or boats, tax returns, vehicle loan statements, and valuations of vehicles or boats. You will also need to provide information regarding your monthly expenses, your debts and your assets. Again, this seems like a lot, and it is. However, we try to make the process as easy as possible by providing you with paperwork to guide you through the process.
Prior to filing bankruptcy, you will be required to take a pre-filing credit counseling course. This course can be taken online and at the end of the course you are provided with a credit counseling course completion certificate.
Once we have all of the required information, we prepare the documents that are required by the Bankruptcy Court. The required documents include a petition for bankruptcy and a series of “Schedules” that contain information regarding your income, assets, debts, and creditors, among other documents. We review all of the documents with you prior to filing them with the court.
Upon the filing of your bankruptcy case, your creditors are notified of the filing by the Bankruptcy Court. The filing of your bankruptcy case acts as an “automatic stay” which simply means that your creditors must stop any efforts to collect from you. The Bankruptcy Court will also schedule the 341 Meeting of Creditors with the trustee.
You will also be required to complete a post-filing credit counseling course. This too can be taken online and a certificate is issued upon completion of the course.
When all matters related to your case have been resolved you will receive a discharge of your debts. Timelines vary depending on whether you have filed a chapter 7 bankruptcy case or a chapter 13 bankruptcy case. There are also circumstances that can delay the discharge.
For more information regarding chapter 7 bankruptcy, click here.
For more information regarding chapter 13 bankruptcy, click here.
Again, please keep in mind that this is very general information regarding the bankruptcy process and that it is important to meet with a bankruptcy attorney to discuss the specific details of your individual case.
Contact us today to schedule your FREE and CONFIDENTIAL consultation with one of our Tampa Bankruptcy Attorneys! Our offices are located in Tampa and are convenient to New Tampa, Wesley Chapel, and the Greater Tampa Bay area.