Chapter 7 Bankruptcy Process
If you are thinking about filing bankruptcy, it's important to speak with a knowledgeable bankruptcy attorney to learn about the process. At the Miami law firm, Ferrer Shane, PL, our lawyers are committed to providing clients with all the information they need to make decisions about filing bankruptcy.
How Does A Bankruptcy Filing Proceed?
We review the steps of a Chapter 7 filing with each client:
- You receive credit counseling within six months of filing bankruptcy. If you do not, your case will be dismissed. Our lawyers can refer you to approved credit counselors.
- You submit the bankruptcy petition and associated financial information to the bankruptcy court. This submission will include a copy of your most recent tax return and a listing of all your property and debts.
- An automatic stay goes into effect, preventing creditor harassment.
- A creditors meeting, known as a 341 meeting, is scheduled, usually between 20-90 days after filing.
- Your non-exempt property is sold and the proceeds transferred to your creditors.
- You complete a required financial management course.
- A final hearing is held to announce the discharge of your debts.
The entire bankruptcy process usually takes four to six months. Our attorneys handle the entire procedure, and you may never need to appear in court. And even if you do need to appear at a 341 hearing, we will be present to advise and advocate for you.
Common Questions
Our lawyers help clients understand the details of the bankruptcy process and answer questions such as these:
- What is the bankruptcy means test?
- What property can I keep?
- What happens to my house and car?
- Do I have to pay taxes and student loans?
- What if I divorce?
- Is there any defense against foreclosure?
- How do I rebuild after bankruptcy?
Learn More About Filing Bankruptcy
Contact our South Florida law firm to learn how to file bankruptcy. Call Ferrer Shane, PL, at 305-262-2728.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
