Educate Yourself:
Study as much information about your possible bankruptcy as you can. Filing for bankruptcy is a huge choice so you need to educate yourself on the bankruptcy process and the advantages and disadvantages of filing. Stay clear of asking people questions who are not bankruptcy lawyers or who don't work in bankruptcy law on a daily basis, there are a lot of inaccurate rumors regarding bankruptcy, especially since the law changed in 2005.

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Hire a Bankruptcy Attorney
First, schedule a consultation with our office. At the consultation, our office will gather necessary information regarding your income, household size, and your monthly expenses so that we can get a good idea of what your budget looks like.

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Our office will also ask you to provide details about any property or assets you own, like your house, cars, boat, stocks, life insurance policies, savings, or other investments.

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Our office will also want to know about your financial history; whether you're being sued, and whether you have owned any property in the past that you have recently sold or transferred.

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We will then advise you as to an appropriate course of action. If we feel bankruptcy is right for you, we will go over the options available under the Bankruptcy Code and will help you determine which options are good fits for you. You will be asked to sign a retainer agreement which will detail the work our office will complete for you and your rights and responsibilities.

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Attorney Fees
In a Chapter 7 bankruptcy, your attorney's fees must be paid prior to the filing of your case; otherwise the attorney's fees would be eliminated in the bankruptcy with all your other dischargeable debts. We can discuss several options with you about paying your fees.



Review Your Bankruptcy Petition
Our office will prepare your bankruptcy petition once your fees have been paid. In addition to using the information we gathered at the initial consultation, we may require additional documents to prepare your petition (paystubs, tax returns, a credit report, an appraisal of your home, etc.).



Once our office has completed the bankruptcy petition, you will be given a copy to review. When reviewing your petition, make sure all your personal information is correct - especially your name, address and social security number. You also want to make sure all your debts are listed on the petition. 



Obtain Your Credit Counseling Certificate
Before your bankruptcy is filed, you must receive a credit counseling briefing from an approved non-profit credit counseling agency. The counseling briefing is a question and answer session with a counselor who will evaluate your financial situation and verify if filing bankruptcy is right for you. The briefing usually takes from 45-90 minutes and can be via telephone, in person, or online. If the course is not completed within the 180 days prior to filing your bankruptcy, your case will be dismissed.



Your Case is Filed!
Our office then files your petition with the Bankruptcy Court in Springfield, officially starting your bankruptcy.

The filing of your bankruptcy will also commence the automatic stay which prohibits and protects you from collection actions by your creditors.



In addition, the Bankruptcy Court will also assign a Trustee to administer your case at the time your case is filed, and your 341 Meeting of the Creditors will be scheduled.

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Complete the Debtor Education/Financial Management Briefing
Our office requires that you complete your second counseling briefing before filing your petition. This second educational requirement is called the Debtor Education or Financial Management Briefing. This course is of an instructional nature and is tailored around managing your personal finances after bankruptcy. The class takes approximately two hours and can be done over the telephone, in-person, or online.



Attend Your "341 Meeting"
You are required to attend a meeting with your assigned bankruptcy Trustee and testify under oath as to the accuracy of your filed petition.



The "341 Meeting" is held approximately 30-45 days after the filing of your bankruptcy.

"341 Meetings" are usually relatively short and painless, and it is unlikely that any of your creditors will actually attend the meeting, even though it is also referred to as a "Meeting of the Creditors". We will be present at this meeting to represent and assist you.



Per the Bankruptcy Code, all required Trustee documents must be tendered to the Trustee by you or your attorney 7 days prior to the 341 Meeting. These documents usually include your last two years of tax returns and 60 days of paystubs.



Receive Your Discharge
In a Chapter 7 bankruptcy, you receive your discharge after your Debtor Education Briefing has been completed and as soon as the 60 day time period for your creditors to object to discharge expires.



In a Chapter 7 bankruptcy, your discharge papers usually arrive 2-3 months after your "341 Meeting".

Once you have received your discharge, all your creditors are prohibited from EVER collecting on the debt you eliminated in your bankruptcy.

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Rebuild your Credit

Once your bankruptcy has been discharged, concentrate on rebuilding your credit.