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Bankruptcy is a process...Not the end.

Rhode Island and Massachusetts Bankruptcy Attorney

Whether you file for a Chapter 7 or Chapter 13 bankruptcy, the process is time consuming and complex. Careful review of your income and expenses must be done in order to appropriately determine which filing will work best for your specific situation. With the assistance of a professional bankruptcy attorney, you can obtain the information you need in order to make the correct decision for your circumstances.

The bankruptcy process for both Chapter 7 and Chapter 13 is briefly outlined below. For more information and full data on what needs to be done, consult with your bankruptcy lawyer at the BK Law Group PC.

Chapter 7 Bankruptcy

  • Mandatory Credit Counseling is required prior to filing.
  • Your preliminary legal documents (Petition, Schedules and Statement of Financial Affairs) are filed with the Court.
  • Mandatory Trustee Meeting is held to discuss your debt s with creditors and distribute assets to creditors.
  • Any objections by creditors to discharging your debt is heard by the Trustee.
  • Financial Management Course is required to be completed prior to your discharge.
  • Notice of Discharge will be filed indicating you no longer owe those debts.

Chapter 13 Bankruptcy

  • Mandatory Credit Counseling is required prior to filing your case.
  • Your preliminary legal documents (Petition, Schedules, Tax Returns, Statement of Financial Affairs and Plan) are filed with the Court.
  • A plan for a scheduled repayment of your debts needs to be presented to the Court. All debts need to be paid back within 3 to 5 years.
  • Mandatory Trustee Meeting for the Trustee to analyze your papers and your Plan.
  • Creditors will have a certain period of time to object to the Plan.
  • In order to be paid through the plan, creditors must file a proof of claim.
  • The court will hold a hearing to confirm your Plan. Any objections or amendments to the Plan can be made at this time.
  • Your first payment according to your Plan is due 30 days after your case is filed. Failure to pay your plan as agreed could result in your bankruptcy being forfeited and your creditors can once again pursue claims against you.
  • Payments must continue for the allotted time, 3 to 5 years.
  • Discharge – Once all payments are made according to your Plan, the Trustee will begin to process your discharge. This could take several months.
  • Complete a financial management course before receiving your discharge.

Consult with Bankruptcy Lawyer Gail Balser

Filing for bankruptcy takes a detailed and thorough approach in order to make it succeed. At BK Law Group PC, our goal is to assist you in handling your debt situation in as painless a manner as possible. Our legal staff will give you the personal attention you need during this difficult time and help you get back on your feet financially by providing you the proper legal debt solution for your situation.

If you are facing the possibility of a bankruptcy filing and want to know more about the process, call Bankruptcy Attorney Gail Balser to discuss your legal options in a bankruptcy.