What is the procedure for filing a Chapter 7 Bankruptcy?

Before filing for bankruptcy, you must (1) prepare your documents, schedules, statement of financial affairs and certifications and (2) you must complete a credit counseling course in financial management.

Once prepared and completed, those items need to be filed with the court and a filing fee of $299.00 must also be paid immediately.

Upon completion, each bankruptcy case is automatically assigned a judge and trustee with an associated Meeting of Creditor under Section 341(a) of the Bankruptcy Code. Usually, this is scheduled 30 - 45 days from the date of filings.

Debtors must attend the Meeting of Creditors or risk having their case dismissed.

After the meeting of creditors, creditors have about 60 days to object to the bankruptcy case. After that, should their be no pending objections a discharge will be issued and the case is closed.