St. Louis Missouri Bankruptcy Lawyer

Chapter 7 Bankruptcy Process

Generally, the entire Chapter 7 bankruptcy process takes approximately four to six months from filing until discharge. The filing fee for a Chapter 7 bankruptcy is approximately $299. In addition to the filing fee, you must complete a credit counseling course prior to filing which costs approximately $49 per filing (this fee may be waived in certain situations) and a financial management course which costs approximately $16 per person.

The typical Chapter 7 bankruptcy process includes:

• 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.

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!