The Chapter 7 bankruptcy process takes approximately 3-4 months until you receive your final discharge, however, the process is not complicated.
We will prepare all of the documents, schedules, and Means test calculations for your Chapter 7 bankruptcy so that all you do is sign your name and mail the package to the bankruptcy court.
All of our documents comply with the new bankruptcy laws and is everything you will need to file Chapter 7 bankruptcy.
What happens next?
After delivering your documents with the bankruptcy court, the court clerk will notify your creditors by mail and then set a date for the "Meeting of Creditors" which is usually 30 days later. At this meeting, you will meet with your assigned Trustee and answer a couple of questions. Typically 60 days after this meeting, you receive your final discharge of debts.
That's about it. Now you may begin rebuilding your credit and your life again and even apply for car and home loans.
1) Take the credit counseling course. Before you file for bankruptcy, the court requires you to take a credit counseling class by an approved vendor. The certificate of completion for this course becomes part of your bankruptcy petition package. You may take this course online. It typically takes an hour to complete. We will be happy to provide you with links to affordable vendors or you may see a complete list of approved vendors on the court's website.
2) Complete an easy questionnaire. Bankruptcy Relief Now will gather information from you regarding your income, assets, creditors, etc, in order to prepare the bankruptcy schedules. We may request additional items such as paystubs, etc. After receiving this information, Bankruptcy Relief Now will prepare your bankruptcy documents within 2-3 business days. (If you wish to fill out an online questionnaire in the privacy of your own home, Bankruptcy Relief Now provides this service using a secured site.)
3) File your petition with the bankruptcy court. You may simply mail your package to the bankruptcy court along with your court filing fee (if applicable).
4) Take Debtor Education Course. Again, this course may be taken online and you will mail your certificate of completion to the court.
5) Mail copy of tax returns to Trustee. When you receive your Meeting of Creditors Notice from the court providing you with the date of your Meeting of Creditors and the name of your Trustee, you should mail a copy of your last two tax returns to the Trustee. The Meeting of Creditors is usually 30 days after your petition is filed with the court. The Trustee may request additional items from you such as bank statements, divorce decree, auto titles, etc. Please follow any requests made by your Trustee.
6) Attend the Meeting of Creditors. This meeting typically lasts 5 - 10 minutes, where you meet with your assigned Trustee and answer questions regarding your case. After this meeting, you will typically receive your final discharge in 60 days. Sometimes, but not often the court may request you attend a hearing to discuss other matters such as Reaffirmation Agreements, etc. These hearings typically last just a few minutes.
1) The court's filing fee of $338 (however, based on your income you may qualify to have this fee waived, Bankruptcy Relief Now will prepare the fee waiver form for at no additional charge) The filing fee for a Chapter 13 is $313.
2) Consumer Counseling Course approximately $15 at www.debtorcc.org or www.summitfe.org (this may also be waived if you are low income)
3) The Debtor Education course of $8 - $14.
4) The cost of your document preparation service - Bankruptcy Relief Now only charges $495 for this service.
It is recommended that you pull your credit report before filing to help ensure you include all of your debts. You may obtain copies of your reports for free once per year at www.annualcreditreport.com or for $1 at www.creditchecktotal.com.