St. Louis Missouri Bankruptcy Lawyer

Chapter 13 Bankruptcy Process

The Chapter 13 bankruptcy process generally takes from three to five years. The filing fee for Chapter 13 bankruptcy is $274. In addition to the filing fee, you must complete a credit counseling course prior to filing which costs $49 per filing and a financial management course which costs $16 per person.

The typical process may include:

• Initial consultation with a bankruptcy attorney
• Completion of necessary forms
• Pre-Petition Credit Counseling
• Review, Sign and File Petition and Schedules
• Financial Management Course
• 341 Meeting of Creditors
• Discharge

Initial Consultation

It is strongly recommended that you meet with an experienced bankruptcy attorney to explain in more detail the rules, guidelines, qualifications and process of Chapter 7 bankruptcy as it applies to your specific situation.

Completion of Forms

To files bankruptcy, you will need to complete the bankruptcy petition and schedules. You should be prepared to list your debts and assets and provide proof of your income for the six months prior to filing your case.

Credit Counseling

The 2005 bankruptcy laws now require that you file a certificate showing you have completed credit counseling with an agency approved by the United States Trustee.

Review, Sign and File Petition and Schedules

Attorney Marie Allen will prepare all of the materials necessary for filing. When the documents are prepared, you will come to the office to review and sign the Petition and Schedules. Once you have signed everything, the petition will be filed with the Bankruptcy Court.

Financial Management Course

Once your case is filed, the Financial Management Course Certificate must be filed within 45 days after the first date set for the meeting of creditors. We recommend that this course be completed immediately after filing. This course is taken entirely on the internet and can be completed by the debtor on their own schedule.

341 Meeting of Creditors

TShortly after you file Chapter 7 Bankruptcy, you and all the creditors you list will receive a notice that a “creditor meeting” has been scheduled. This meeting typically occurs three to four weeks after your case is filed. A bankruptcy trustee will be assigned to oversee your case and conduct this meeting and will ask you questions, under oath, about your bankruptcy and the information contained in your schedules. Creditors rarely attend this meeting, but if they do, they may question you as well.

Chapter 13 Repayment Plan

One of the most important forms filed in a Chapter 13 bankruptcy is the repayment plan. This plan details how you will repay the debt you are declaring under Chapter 13. Your first payment will be due to the Chapter 13 Trustee 30 days after you file your case. Payments are made to the bankruptcy trustee, a person appointed by the court to manage your case. The trustee then distributes the money to your creditors. You can request the bankruptcy court to order automatic deductions from your wages and have them sent directly to the trustee’s office.

Discharge

The final stage of the bankruptcy process is discharge. This typically occurs three to four months after the initial filing. The court eliminates all of your debt, except:

• Debts that automatically survive bankruptcy such as child support, most tax debts, student loans, etc. (unless ruled otherwise by the court)
• Debts the court has declared non-dischargeable due to fraud.

Meet with Bankrupcy Lawyer Marie Allen for FREE to determine how the law applies to your specific situation. Contact Marie online or call 314-872-1900 to schedule your FREE CONSULTATION today!