In terms of the procedure and schedule, it typically proceeds as follows:
Before filing for bankruptcy, you must:
After making an initial payment to your attorney, you may refer your creditors to his or her office. This will prevent creditors from calling you and sending you collection correspondence. This is a significant (and frequently neglected) advantage of hiring a Bankruptcy Attorney as opposed to filing bankruptcy on your own. If you don't have an attorney, you'll have to deal with creditors on your own. While some people may enjoy the notion of yelling at debt collectors, the majority of people appreciate the fact that someone else is handling it now.
Within 180 days preceding your bankruptcy filing:
You must complete a course in credit counseling. This can be done over the phone or online. The certificate you receive for completing the course is only valid for 180 days; if it expires, you must retake the course.
Day 1:
The Bankruptcy Court receives your bankruptcy petition. How long it takes to prepare your petition depends solely on how quickly you can provide your attorney with the necessary information. A Chapter 7 petition can typically be completed within one week IF YOU PROVIDE YOUR ATTORNEY WITH ALL REQUIRED INFORMATION.
Your attorney will be unable to complete your petition unless you provide all of the necessary information. It is a waste of your and your attorney's time to call them week after week to inquire about the status of the case if you have not yet submitted tax returns, pay receipts, etc.
From Day 7 to Day 14:
Your creditors will be notified of the filing of the petition. After receiving notification, they must promptly cease all collection efforts. Any collections made after you filed your petition must be returned to you.
From day 20 to day 40:
There is a meeting of the creditors. This is commonly referred to as a ""341 hearing"" and is an occasion for the debtor's creditors to contest the discharge of debt. It is essential that both parties have an opportunity to be heard. In the overwhelming majority of cases, neither creditors nor anyone else contests the discharge at the 341 hearing.
Within sixty days of the hearing for 341:
Again, you must complete a second debtor education course online or by phone.
2-3 months following the 341 hearing:
The court should grant you a discharge of your """"unsecured"""" debts.""
" - https://www.affordablecebu.com/
