When you’re getting ready to file for bankruptcy, it is important to know what information or documents that you might need. Bankruptcy courts are very particular about documentation, so you will need to give them everything that they want so that they don’t dismiss your case. Knowing what you need in the way of personal records, forms, and other paperwork that is required will make the process run much smoother for you. A good bankruptcy and consumer rights attorney in Chicago will be able to help you with a checklist to ensure that you have all of these items. They will also guide you along the way because they will have a lot of expertise in how bankruptcies are handled.
Important Documents and Procedures You Must Have and Follow in Bankruptcy
When you go to file bankruptcy, you will have to gather all of your bills. This will allow your attorney to accurately list all of your debts on the chapter 7 bankruptcy petition. At the time of your consultation, the attorney will get your permission to pull a credit report, because the bankruptcy trustee will want to see this document at your 341 hearing. After they key all of your information into the petition program that they use, you will then have to pass a means test. This test takes your income and the total number of people in your family to determine what threshold you are at. If you are at the right level or below, then you will be eligible to file. The amounts are quite generous, so the average everyday American won’t have any trouble with this test.
Going to Court and Beyond in a Chapter 7 Bankruptcy
After your petition has been electronically filed, you will receive a 341-meeting notice in the mail. This is your bankruptcy hearing date, so you will not want to ignore this notice. When you attend the hearing, the trustee of your case will ask a series of questions about your income and debts to make their determination. They will tell you right at the hearing whether or not they think your case is a no-asset case. Most people have no trouble getting through the hearing fine, as long as they have a competent attorney by their side. Approximately 60 days after your 341 hearing, you will receive a discharge of the debtor in the mail. This is the final order of the bankruptcy court saying that all of your debts have been discharged. Keep in mind that student loans, child support, certain taxes, and some other debts may not be dischargeable. Your attorney should be able to tell you if any debts in your petition were not discharged.
For the best consumer rights Chicago professional, contact Zimmerman Law Offices, P.C. The Firm offers free consultations and quality representation.
