Bankruptcy Process

For many people wondering whether bankruptcy is right for them, knowing where to get started can be overwhelming. The first step in the bankruptcy process is contacting a licensed, experienced, attorney who has a working knowledge of the bankruptcy laws. It is important that you meet with them face to face so that you can provide all the information required under the bankruptcy laws and so that you can get your questions answered. At The Sellers Law Firm, first consultations are always free and give us a chance to explain your options and address concerns you have about your individual situation. The initial consultation takes approximately 45 minutes - 1 hour. If after meeting with you and taking a look at your situation we determine that bankruptcy is the best option for you, we set a second appointment for you to come back in and sign the bankruptcy petition. Your second appointment lasts approximately 1 hour because it is at this appointment that one of our attorneys will sit down with you and go over all the information contained in your bankruptcy petition before it is signed and filed with the U.S. Bankruptcy Court. Once you have reviewed and singed your petition, it is filed with the appropriate court and a case number is assigned. The filing of your petition puts a stay of protection in place for you, your property and your wages.

Within 4-8 weeks of filing your bankruptcy petition, the 341 Meeting of Creditors will be held, which is a hearing required by law where the case trustee will take testimony under oath to verify the information set out in your signed, filed petition. This process is the same for both Chapter 7 and Chapter 13 debtors. For most individuals, this is the only hearing they are required to attend; however, sometimes during the course of your bankruptcy case other hearings may be necessary. For example, if a Chapter 13 debtor gets behind on their home mortgage payments or behind on their Chapter 13 plan payments, another hearing may be required. Once you have attended the 341 Meeting of Creditors, your case is set for confirmation by the Court. Chapter 13 cases are confirmed and the debtors then continue making the scheduled plan payments for the required period of time, between 3-5 years. Unlike Chapter 13 debtors, Chapter 7 debtors do not make monthly payments to the court and normally receive a discharge within 4-6 months from the date they filed.

The process of filing bankruptcy is not a process that anyone wants to go through; however, it is often a process that cannot be avoided! The Sellers Law Firm has helped thousands of individuals and families statewide save their homes, their cars and their hard earned wages. If you are facing tough times and need help, call today for your free consultation. Let our experienced bankruptcy attorneys give you the help and hope you deserve. Call today!

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