The first step is to set up a free consultation with Integrity Law Group.
During this consultation, we will review your financial situation and answer any questions you have about bankruptcy. We will also provide you with information about the bankruptcy process and how it can help you get a fresh start.
An experienced bankruptcy attorney can help you navigate the bankruptcy process and ensure that all of your paperwork is filed correctly. Additionally, an attorney can help you understand your rights and options under the bankruptcy code and can represent you in court if necessary.
Gather your financial documents
Once you have decided to move forward with bankruptcy, you will need to gather all of your financial documents. This includes your income statements, bank statements, tax returns, and any other documents that show your assets and liabilities. This information will be used to determine if you qualify for Chapter 7 bankruptcy.
Complete the means test
The next step is to complete the means test. The 2005 Bankruptcy Means Test is used to determine if your income is low enough to qualify for Chapter 7 bankruptcy. If you pass the means test, you will be able to proceed with filing for bankruptcy.
File the necessary paperwork
Once you have gathered all of your financial information and completed the means test, you will need to file the necessary paperwork with the court. This paperwork includes the petition, schedules, and statements required by the court. Your attorney with Integrity Law Group can help make sure all the paperwork is completed correctly.
Attend the 341 meeting
After your paperwork has been filed, you will need to attend a 341 meeting. This meeting is also known as the creditors’ meeting or the debtor’s examination. At this meeting, you will meet with your trustee and creditors to discuss your case.
Complete mandatory credit counseling
Before your bankruptcy case can be discharged, you must complete mandatory credit counseling. This counseling must be completed within 180 days before filing for bankruptcy. Credit counseling helps debtors understand how to manage their finances and avoid future debt problems.
Get a fresh start with Chapter 7 bankruptcy by reaffirming certain debts
If you reaffirm certain debts, such as a mortgage or car loan, you will continue to be responsible for repaying those debts even after your other debts are discharged in bankruptcy. Therefore, it is important to carefully consider whether or not you want to reaffirm any debts before filing.
Make payments under a repayment plan
If you are unable to pay off all of your debts in full through Chapter 7 bankruptcy, you may be required to make payments under a repayment plan approved by the court. These payments are made to your trustee who then distributes the funds to your creditors.
Attend the discharge hearing
After you have made all of the required payments under your repayment plan or paid off your debts in full, you will need to attend a discharge hearing. At this hearing, the court will determine if your debts have been discharged and whether or not you are eligible for a fresh start.
The experienced attorneys at Integrity Law Group will help you get the fresh start while being able to keep your home. Give us a call today.