Filing for Chapter 7 bankruptcy can be a complicated and daunting process, but working with an experienced attorney can help make the process go more smoothly. Here are some things to expect when filing for Chapter 7 bankruptcy with an attorney.
Provide a lot of financial information:
When you meet with your attorney to discuss filing for Florida Chapter 7 Bankruptcy Attorney, you will need to provide a detailed financial history. This will include information on your income, expenses, debts, and assets. Be prepared to provide documentation to support your claims.
Understand the means test:
One of the first things your attorney will do is evaluate whether you qualify for Chapter 7 bankruptcy by looking at your income and debts. This is done using a means test, which is a formula that looks at your ability to repay your debts.
Develop a repayment plan:
If it is determined that you do not qualify for Chapter 7 bankruptcy, your attorney will work with you to develop a repayment plan. This plan will involve repaying your debts over time, usually through a payment plan.
File the necessary paperwork:
Once you have decided to move forward with bankruptcy, your attorney will begin the process by filing the necessary paperwork with the court. This paperwork will include your financial information, as well as a list of your creditors.
Appear in court:
After your paperwork has been filed, you will need to appear in court for a hearing. At this hearing, the judge will decide whether to approve your bankruptcy.
At the hearing, the judge will review the charges against you and your background, and then determine if the charges are serious enough to warrant a jury trial. If the judge does not feel that the charges are serious, he or she may dismiss the charges. However, if the judge does feel that the charges are serious, he or she will set a date for your jury trial.
Complete a credit counselling course:
Before your bankruptcy can be finalized, you will need to complete a credit counselling course. This course is designed to help you understand your financial situation and make better financial decisions in the future.
Discharge your debts:
If your bankruptcy is approved, your debts will be discharged. This means that you may no longer be liable for the repayment of those debts. However, some debts may not be discharged in bankruptcy.
Rebuild your credit:
After your bankruptcy has been discharged, you can begin the process of rebuilding your credit. This may take some time, but it is possible to get your credit score back up to where it was before you filed for bankruptcy.
Get your life back on track:
filing Chapter 7 with a Bankruptcy Attorney can be a difficult process, but it can also be a fresh start. Once your bankruptcy has been finalized, you can begin working on getting your life back on track. This may involve getting a new job, budgeting your money, and making smart financial decisions.
Be prepared to provide a lot of financial information to your attorney, and understand that you may need to appear in court. If your bankruptcy is approved, your debts will be discharged and you can begin the process of rebuilding your credit.