A bankruptcy case is initiated by filing the bankruptcy petition. The petition provides basic information about the debtor including their name, address, and a list of prior bankruptcy filings. However that isn’t the only document that must be filed. Debtors must file a set of schedules that disclose their assets, creditors, parties who share liability… Read More »
There are costs associated with filing Chapter 7 bankruptcy. These include attorney’s fees, ordering a credit report, taking a credit counseling course, and paying the court’s filing fee. Some debtors can file an application with the court in order to avoid paying the court filing fee. However, the eligibility requirements for waiver of the filing… Read More »
The role of the trustee in a Chapter 7 bankruptcy case is to verify the accuracy of the bankruptcy petition, ensure that the Bankruptcy Code and Federal Rules of Bankruptcy Procedure are being followed, and to locate funds for the bankruptcy estate. In pursuing these goals a trustee will review the documents filed in the… Read More »
In every Chapter 7 and Chapter 13 bankruptcy case, the debtor must meet with a trustee. This meeting usually occurs between four and six weeks after the petition is filed. The purpose of the meeting is to give the trustee an opportunity to discuss with you the documents filed in your case and to get… Read More »
When a debtor files a bankruptcy case debt collectors are required to stop all attempts to collect debt by federal law. The mechanism that stops debt collection in bankruptcy is called the automatic stay. This bankruptcy tool is especially important if you are behind on your car payments and in danger of having your vehicle… Read More »