The Bankruptcy Process
Douglas & Cobb County Bankruptcy Attorney
Bankruptcy begins with filing a petition for bankruptcy with the courts to see if you qualify , although our firm will determine beforehand with the use of a
means test whether you qualify or not. The petition will contain detailed information regarding your finances - including a financial statement, a list of assets and liabilities, your current income, and a list of any current contracts or leases that you've signed into. If your bankruptcy petition is accepted, a bankruptcy trustee will administer the remaining steps of the process, which will of course all depend on what type of bankruptcy you are filing for. If you are filing
Chapter 7 bankruptcy , your non-exempt assets will be sold so that your creditors can be paid. Your debt will normally be discharged within 75 days. In a
Chapter 13 bankruptcy filing, you will put together a payment plan which typically lasts 3 to 5 years to repay your creditors. A timeline of the bankruptcy process is:
- Within 180 days before filing for bankruptcy you must complete certified credit counseling before being eligible to file for bankruptcy
- You must be a resident for at least 90 days in a state before filing for bankruptcy
- You have 15 days after filing to provide specific financial information to the courts. For Chapter 13 bankruptcies, you must also file your repayment plan within this time period.
- 30 days after filing a Chapter 7 bankruptcy, y ou must file a Statement of Intention, which states which debts , if any, you wish to reaffirm.
- You must make your first Chapter 13 scheduled payment a pproximately 30 days after you file your repayment plan with the court
- The court will hold a Meeting of Creditors approximately 6 weeks after your case is filed.
- Government agencies that have claims against you, such as taxes owed to the IRS, will have 180 days after the date of your petition to submit proof of their claims against you.
-
By consulting with a Douglas & Cobb County bankruptcy attorney , you can find out which form of bankruptcy is best for you, or if there are other
alternatives to bankruptcy that might be more suitable. We also represent clients in Douglasville, Fulton County and Cobb County.
Bankruptcy Lawyer in Douglas & Cobb County
At The Faucette Law Firm, LLC, we understand this is a stressful time for you. That is why our clients have 24/7 attorney access, with appointments available seven days a week, and we have same-day filing. We provide free pre-filing credit counseling to our clients, and we provide free and unlimited pre-filing phone consultations. Any bankruptcy firm can file a case, but what makes us different is the personalized attention and overall experience that our clients receive.
Contact a Douglas & Cobb County bankruptcy attorney
for a bankruptcy solution that is tailor made to your situation.