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Filing for Bankruptcy Rules of the Road (Chapter 7)
Filing for Bankruptcy Rules of the Road (Chapter 7)
Chapter 7 is the most common form of Bankruptcy. The process is relatively fast and the time from filing to receipt of a discharge of your dischargeable debts is usually only a few months.
CA,
Los Angeles,
United States of America
(prbd.net)
20/08/2011
Chapter 7 is the most common form of Bankruptcy. The process is relatively fast and the time from filing to receipt of a discharge of your dischargeable debts is usually only a few months. If you have an attorney your attorney will explain the process to you. If you do not have an attorney make sure that you understand the process and comply with all the rules of the Bankruptcy Court. A good place to start is http://www.bkedcert.com/faq.php. This will give you an overview of the process so that you will know what to expect and if you have an attorney it will help you understand why your attorney insists that you do certain things.
The Bankruptcy Code requires that you complete certain debtor certification courses as part of the process. Before you file you must complete a Bankruptcy Credit Counseling Course. The Bankruptcy Certification of compliance with the credit counseling requirement must be filed with the court when your case is filed. After you file but before you receive your discharge you must complete a bankruptcy discharge course in personal financial management and file the certificate of completion with the court. If you do not complete the required course in personal financial management and file the certification of completion (Form B23) with the court your case will be closed without a discharge and your creditors will be free to pursue collection efforts against you.
It is important that what is filed with the Court is complete. The filing is complicated and requires that numerous schedules be included and that your creditors be properly notified. If the filing is not complete the court will likely dismiss your case and you will lose the protection of the Bankruptcy Court.
Soon after you file you will receive a notice from the Bankruptcy Court notifying you of the appointment of a Trustee and setting a date for the first meeting of creditors (341(a)) meeting. You are required to appear at this meeting and will be questioned by the trustee. The trustee may also require that you produce records before the first meeting of creditors. Failure to comply with the Trustees record request or failure to appear at the meeting of creditors may result in the dismissal of your case.
To have the best chance of success you would be will advise spend the time necessary so that you know what the court requires and that you do your best to comply with the Courts rules.
It is important to note that the Bankruptcy Court and the Chapter 7 trustees do not have much sympathy for debtors who do not take the time understand and comply with the rules.
http://www.bkedcert.com