THE BANKRUPTCY PROCESS

Once you’ve had your initial consult with our attorneys, we will ask you to provide us with the following information:  credit card debt, any lawsuits, judgments, foreclosures or repossessions, tax liens or potential liens, student loans, information about your assets, i.e. homes, properties, cars, jewelry, cash, and insurance policies.   Once this information is provided to our Orange County and Los Angeles bankruptcy attorneys, they will be able to advise you on the best course of action to take to help your situation.

If you qualify for Chapter 7 bankruptcy and you decide to go forward with filing, we will then prepare a Petition for bankruptcy from the information you provided, and we will have you review it carefully.  Next step will be to file the Petition.  If you need to file a Chapter 13 bankruptcy, we will prepare a Chapter13 plan as part of the Petition; this plan sets forth a monthly payment amount to be distributed to your creditors over a period of time.

After you sign the Petition, we will file it with the bankruptcy court, and a trustee is appointed.  At this point your creditors must stop harassing you.  Any contact from them can be referred to your orange county and Inland Empire bankruptcy attorney.  Filing a Bankruptcy Petition also stops any lawsuits, foreclosures, garnishments and attachments.

Next, the bankruptcy court sets a date for a creditors’ meeting, and notifies your creditors.  The creditors meeting takes place approximately one month to two months after filing. This is usually a brief, informal hearing which our bankruptcy attorneys will attend with you. The trustee will question you regarding your assets and your outstanding debt. Your creditors can attend too (however, most times they do not).

If you are filing Chapter 13 bankruptcy, the Trustee reviews your plan at the creditors’ meeting to ensure it is feasible.  A confirmation hearing is then held a few weeks later (which you usually do not need to attend), where the Court determines whether it approves your Chapter 13 plan. Then, you or your employer will make monthly payments in accordance with your plan, which the trustee distributes over a set period (usually between three to five years).
In a Chapter 7 bankruptcy, your case will generally be discharged after approximately four to six months. You will receive a Notice of Discharge from the Court eliminating your debts. Under a Chapter 13 bankruptcy, the Court issues a discharge once you have made all your payments. After discharge, creditors are prohibited forever from collecting these discharged debts.

HOW MUCH WILL MY BANKRUPTCY COST?

Please provide the information requested under our Bankruptcy Information Sheet, and we will be able to give you a price range based on your situation.  
     
    Chapter 7 Filing Fee: $299
    (Discharge of most unsecured debts) 
      
    Chapter 13 Filing Fee: $274
    (Structured partial repayment plan for debtors who want to keep assets like  homes)
     
      Conversion Fee: $15
     (to change a Chapter 13 case into a Chapter 7 case)
     
     Amendment Fee: $26 per amendment
     (if you have to make changes to certain documents after initial filing)

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Rachelle Shakoori, Orange County bankruptcy attorney, is experienced in helping you eliminate your debt.  Contact us now for a free initial consultation at 877-529-4545.  If you would like help in deciding whether filing for ankruptcy in Orange County or Los Angeles  is the right course for you, visit the Bankruptcy Info Sheet.