The Bankruptcy Process

The Process for Filing Your Bankruptcy

When you work with The Law Offices of David M. Offen to handle your Chapter 7 or Chapter 13 bankruptcy, the Bankruptcy Process for Filing goes like this: The specific bankruptcy process will vary depending on whether you file a Chapter 7 or Chapter 13 case as well as the unique financial circumstances you are dealing with. Although the specific process may vary, there are many ways that an experienced Philadelphia bankruptcy attorney at our law firm can assist you. We can also help to familiarize you with what to expect in the coming weeks and months:

• The bankruptcy process begins when you file your petition.
• In order to file, you will need to complete credit counseling.
• We also gather and file all information regarding your assets, debt and expenses with the Court.
• You Meet with the Attorney – you bring the attorney your bills, last 2 tax returns if filed , paystubs, bills and other documents.
• You also need to take a credit counseling class which lasts about 45 minutes – 1 hour and it can be taken in our office, on the computer or at home.
• We evaluate your case to make sure that we take advantage of all options available to you.
• We review your debts — those that are dischargeable and non-dischargeable and your income and expenses as well as any assets that you may own.

Itemize Your Income and Debt

We help make sure that we are presenting a complete financial snapshot of your current situation. We look at your monthly expenses, your assets and your debts, such as credit card bills, medical bills, auto loans, mortgage payments, tax debts and other bills to create a complete picture. Contact The Law Offices of David M. Offen at 215-625-9600 today to learn more about how we can help you get through this difficult time. Once you file your bankruptcy petition, all of your creditors will be notified that they must immediately cease all collection efforts against you. This will include an automatic stay on foreclosure or any debt collection lawsuits. A meeting of creditors will be the next step in the bankruptcy process and takes place within the next 1 to 3 months of the date you filed your petition. At this meeting, you will need to be present to testify regarding the accuracy of your bankruptcy petition. This meeting is known as the meeting of creditors. In most cases, your creditors do not attend the meeting and the entire meeting is over in a matter of minutes. If you are challenged by creditors, we will be there at your side. The final step is the discharge of all eligible debt. For a Chapter 7 bankruptcy, your debt will generally be discharged within 4 to 6 months of the filing of your petition. For a Chapter 13 bankruptcy, the discharge will not take place until the successful completion of your repayment plan, which may last 3 to 5 years of filing your petition. As your representative we guide you every step of the way in filing your Chapter 7 or Chapter 13 bankruptcy. We make sure you are prepared and that you know what to expect so there are no surprises, and we help you address any issues you may have before or after filing. Helping you find long-term and dependable solutions is our first priority.