Chapter 7 Only

The Bankruptcy petition is filed in the Bankruptcy Court of your Jurisdiction.  It can either be mailed or delivered in person.  This type of filing by you will be what is called a pro se filing which means you are acting as your own attorney.

The next step is that when your petition is received it will be assigned to a judge and a trustee usually on the same day it is filed.  You will also receive a case number.

Letters will be sent to all creditors that have been listed and will immediately stop any collection activity including wage garnishments.  You should deliver a copy of the stay to any marshal, Sherriff or your employer if a garnishment is pending or in force.  The court will send letters to your creditors.

In approximately 3 - 4 weeks you will have what is called a 341 meeting of creditors in which the trustee will determine whether your case is a non-asset case or not.  It is in your best interest to be truthful with the trustee.  It is only to your disadvantage to run up large bills just prior to filing a bankruptcy and not advisable to transfer assets.  This can have a negative impact on your case

During this time a creditor can file a protest if the creditor has sufficient evidence that there are assets.  All non-exempt assets will be liquidated first and the proceeds will be divided amongst the creditors.  Any remaining balances will then be discharged in about 60 days after the 341 hearing.  You are allowed to retain one vehicle (two if it is a joint petition) and your home.  However, you are required to renew your agreements with these creditors.

If you discover new creditors after filing your petition, you may add others if you later discover these creditors. Currently there is a $26.00 fee to file any additional paperwork charged by the court and payable directly to the court.

Currently the fee (In addition to our fee) to file your petition is $299.00 payable directly to the U.S. Bankruptcy Court.  This fee can be waived by the court based on income vs. liabilities.  A payment plan for these fees can also be applied for.

The information supplied here is for informational purposes only.  Crawford Group is a petition preparer and does not render any legal advice.  Bankruptcy laws can change and any inquiries should be made directly to the Bankruptcy Court.