Basic Bankruptcy Process

Your bankruptcy case progresses in steps, beginning even before the first day you step into our office. We will immediately work to stop harassment by the debt collectors; if necessary, we will bring a lawsuit on your behalf against them to enforce your legal rights under the Fair Debt Collection Practices Act (FDCPA). We will draft all of your bankruptcy papers, and make sure that all necessary documentation is made available. You will always be involved in the process so that you know exactly the status of your case.

Pre-Filing Certification
In order to be eligible to file for bankruptcy — Chapter 7 or Chapter 13 — you must complete a pre-filing briefing outlining the opportunities for credit counseling AND a budget analysis. You do not need to worry about accomplishing this task before meeting with us. We are here to help you every step of the way and will lead you through this process. When your case is filed, you must file with the bankruptcy court the certificate you receive from the approved nonprofit budget and credit counseling agency. Certification may be received through a counseling agency over the Internet or the phone, and the work you do with us prior to the certification will help prepare you for an efficient completion of this part of the process.

Filing Your Case
As soon as your case is filed with the court, a trustee is appointed. The trustee’s role is to sell any assets that are not protected by law, and to distribute the proceeds of that sale to your creditors. In most cases there are no assets to liquidate. If the trustee does identify assets, we probably have previously advised you about this possibility.

If you have filed a Chapter 13 case, the trustee is responsible for reviewing your proposed repayment plan, making recommendations to the court regarding the feasibility of that plan, and distributing the payments to your creditors under the terms of the plan. You will be sending your Chapter 13 payments to the trustee each month, along with any other documents required by law.

All About The Meeting Of Creditors
This meeting, which is held in all bankruptcy cases, usually occurs within 4 to 6 weeks of the filing of your case with the court. The purpose of the meeting is to give creditors a chance to ask questions, although it is very rare that a creditor shows up; it is mostly handled by the trustee assigned to your case. The trustee may also ask you questions about particular items on your petition usually focusing on assets or income. Most meetings ta ke only a few minutes.

Some consumers feel some level of anxiety or fear leading up to the meeting with the bankruptcy trustee, but there is no reason to fear the trustee. The meeting will take place in an ordinary conference room, and the trustee is not a judge — the setting is informal. After the meeting, most people comment on how simple the process was.

How To Be Prepared For Your Meeting Of Creditors
You must bring state-issued photo identification, and your social security card to your meeting. There are other documents that need to be provided to the trustee before your meeting can take place, and we will send you a letter with the list prior to your meeting.

Attending Your Hearing on Confirmation For Chapter 13 Cases
If you file a Chapter 13 case, there is one additional hearing you must attend. This is called a Hearing on Confirmation, and it takes place after your Meeting of Creditors. At the Hearing on Confirmation, the trustee will make a recommendation to the judge as to whether your proposed payment plan is sufficient to satisfy the requirements under the Bankruptcy Code. The judge will then give final approval to your repayment plan, or tell us to make adjustments.

How Long Your Case Takes To Complete
All Chapter 7 and Chapter 13 debtors must complete a Financial Management Course before they receive a Discharge. This course is intended to help debtors identify and correct the financial mistakes that led to bankruptcy. This course may be taken over the Internet or the phone, and we will provide you with a list of approved agencies.

In a Chapter 7 case, your case is usually completed approximately 90 days after your Meeting of Creditors; at that time, you will receive a single-page document titled “Discharge of Debtor” from the court. The discharge order is the official court order relieving you of your obligation to pay your bills. Remember that the Discharge of Debtor in a Chapter 7 case will not relieve you of all of your debts. You should speak with us to find out which debts will not be discharged in a Chapter 7 case.

In a Chapter 13 Bankruptcy case, the discharge order is issued upon your successful completion of the repayment plan. This will vary depending upon the length and type of your Chapter 13 Plan.

SCHEDULE A CONSULTATION ONLINE
Contact our Colorado bankruptcy lawyers to schedule an informative consultation that will help you take control of your financial affairs and reduce your anxiety. Our bankruptcy attorneys will help you determine if bankruptcy is the right option for you, and what other options may be available given your unique situation.

A qualified attorney will review your case and discuss your options. This informative, one-hour, initial consultation will give you knowledge, options, and directions that can put you control and help you manage debt. Do not wait. Contact us today, so we can help you

ALLEVIATE THE PRESSURE AND ANXIETY CREATED BY DEBT.