Chapter 7 Bankruptcy Lawyer Munster
Filing bankruptcy is sometimes the best answer to the debt that individuals or couples will most likely never be able to dig themselves out from underneath. Although it sometimes has a stigma attached to it, millions of people have found relief and started afresh because they were able to file. Most chapter 7 bankruptcies are relatively simple and do not take that long from filing until discharge. However, the process and the documentation involved can be time-consuming and complex. It is usually best to have an experienced chapter 7 bankruptcy attorney in Munster on your side if you want to file bankruptcy.
Mandatory Credit Counseling
All bankruptcy filers must complete a credit counseling course within the six months before filing a chapter 7 bankruptcy. The United States Trustee’s Office must approve the credit counseling agency. You can find an approved list of agencies on their website or by speaking to your chapter 7 bankruptcy lawyer in Munster.
Filing Your Documents
Several documents must be filed with your bankruptcy petition. These forms will list your property exemptions, financial information, income, and expenses, as well as others. By using a chapter 7 bankruptcy attorney in Munster, this process will go much faster. Your attorney will ask you for the necessary information and documentation and use that to complete your petition and schedules.
Once your bankruptcy petition is officially filed with the court, the automatic stay goes into place. An automatic stay forbids creditors from contacting you or from continuing with further collection efforts such as filing lawsuits, repossessing a vehicle, or foreclosing on a home. If creditors do not adhere to this legal order, they will face consequences.
Your case will be assigned to a bankruptcy trustee who will make sure all of your paperwork is in order. Within a couple of months, you will be required to attend a meeting of creditors with your chapter 7 bankruptcy lawyer in Munster. During this meeting, the trustee can ask for additional documents, that you amend mistakes on your schedules, or ask questions. Your creditors are also invited to this meeting, but more often than not, they do not show up. If they do, however, they are allowed to ask you questions.
Within the next few months, if the trustee finds your filing to be in order, you will be granted a bankruptcy discharge. Your discharge means your bankruptcy has been successful, and you are no longer obligated to pay your debts. They will also be removed from your credit report. Sometime between your filing date and your discharge, you will need to complete a debtor’s education course.
Learn More about Your Options from a Knowledgeable Chapter 7 Bankruptcy Lawyer in Munster
Bankruptcy can be a confusing process for most laypeople. It is in your best interest to hire an experienced lawyer who can guide you through every step of this process and ensure the best outcome for you. Contact Kevin M. Schmidt, Attorney at Law and his staff today to get your questions answered and schedule your free consultation.