When you’ve made the decision to file for bankruptcy to give yourself a clear financial slate, you’ll likely have many questions regarding the process, including whether you’ll need to make time to appear in court. Continue reading to learn more about how bankruptcy works and why you will only go to court once.
The Bankruptcy Process
It’s important that you fully understand the bankruptcy process so you can be prepared for the steps you’ll need to take for your debts to be discharged. Because there are a few different types of bankruptcy, the process might vary slightly, depending on whether you’re pursuing a Chapter 7, Chapter 13, or Chapter 11 declaration.
To begin, you’ll need to establish that you qualify for bankruptcy. This usually entails the completion of a credit counseling course within 180 days of your filing. Once you file your petition, the courts will issue an automatic stay on your debts, which means your creditors will no longer be able to attempt to collect your debts.
Next you’ll need to provide the courts will information regarding your debts, assets, income, and expenses, among other details. As part of this step, if you’re filing Chapter 13, you’ll need to include your repayment plan and reaffirm any debts you’re hoping to repay so you can retain your possessions.
Up until this point, these steps can all be completed with your attorney, who will file everything in court for you.
Meeting of Creditors
After you’ve completed all of the steps as outlined above, you will need to go to court for the meeting of your creditors. This meeting is often quite short. In it, you’ll need to testify that the debts and information you’ve provided are accurate to the best of your knowledge.
For Chapter 13 filers, the meeting of the creditors is also a chance for your creditors to raise objections and concerns regarding your repayment plan. This is the only time you’ll need to go court. Once you’ve completed the terms of your bankruptcy declaration, your debts will be discharged and you’ll officially be debt-free.
Secure the Legal Representation You Need
The vast majority of people who are suffering from mountains of debt don’t have experience in bankruptcy law, which is why working with an experienced Indiana bankruptcy lawyer at Rowdy G. Williams Law Firm is in your best interest. We’ll work diligently so your bankruptcy process is smooth and efficient, and you can put this difficult time in your life behind you.
You can give our office a call at 1-812-232-7400 or fill out the quick contact form we’ve included below to schedule your initial case review today.