The filing process for a bankruptcy case is extensive, as it requires submitting many documents to the bankruptcy court in your location. As a result, it might take a few separate meetings with your bankruptcy attorney to prepare everything before filing. If you want to file for Chapter 7, here are several things to know about the filing process you must complete with this branch of bankruptcy.
You Will Need to Submit Information
The documents an attorney must prepare are lengthy and complex, and these documents require a lot of information. As the filer, you must submit all this information to the attorney, and it must be accurate. One part of the documents might include income information. To prove and verify your income, your lawyer will need copies of your recent pay stubs, tax returns, and bank account statements. Another section is your debt. To verify your debt, the lawyer will print a copy of your credit report. The attorney will list every debt found on this report. If you have additional debts, you must prove them by submitting statements from your creditors. Your attorney might also ask for documentation from things you own, such as your car titles or mortgage statements.
It Takes Time for the Lawyer to Prepare the Documents
Once you submit all the necessary documents and information, you will need to let the attorney process everything. It takes time for the lawyer to prepare all the documents needed for a Chapter 7 case, and lawyers must work at this meticulously to ensure that the information is accurate and complete.
You Must Sign Everything
After your lawyer prepares all the required forms and documents, you must meet with them again to sign everything. As you sign the documents, your lawyer will explain what each one is and what it means. Signing the bankruptcy forms is the last step you must complete before your lawyer files your case.
The Lawyer Submits It and the Court Issues an Automatic Stay
When the bankruptcy court receives your case, they will instantly issue an automatic stay. The stay typically occurs within a week of filing the papers, and it provides a legal order to your creditors to stop collection efforts.
These are the things you should expect when filing for bankruptcy. If you would like to file or receive more information, schedule a meeting with a bankruptcy attorney of your choice.
Share28 January 2021
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