In order to file a Bankruptcy case, debtors need to do the following steps:
1. Collect and organize their financial statements
2. Contact their local federal court to find the location of the Federal bankruptcy Court House. Or they can search using Zip Code of their prime residence using the court website
3. Enter and complete "Credit Counseling for Bankruptcy". Depending on each state, certain agencies may perform the whole counseling or certain parts only. For a full list of approved credit counseling agencies.
4. Visit the local Bankruptcy Court website and review "Local Court Rules and Filing Procedures"
5. Prepare a list of all creditors and creditors' addresses
6. Complete and sign "Voluntary Petition to enter Bankruptcy", form B-1. The form can be purchased from court clerk's office
7. Pay filing fees
8. Check mail daily, as the U.S. Mail is the Bankruptcy Court's standard method of communication.
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2 Debtors must be aware of the following:
Bankruptcy will be on credit report for 10 years, Court assigned trustee acts in favor of creditors, Debtors are held responsible to submit the right requested documents on time, Court will not provide free legal counseling for debtors, Limited free legal counseling maybe available through local non-profit agencies, Debtors are responsible for all court fees at all times, In most Chapter 7 Bankruptcy cases, debtors will never see the judge unless an "objection" is raised, In Chapter 13 Bankruptcy cases, debtors will come before a judge to confirm repayment plan, Secured debts can't be discharged, Court fines, judgments and fees can't be included in Bankruptcy procedures. Finally, Bankruptcy is a long and complex legal procedure that involves multifaceted vocabulary and steps. In addition, wrong filing can cause a Bankruptcy case to be dismissed, not discharged.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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