Bankruptcy Timeline

Southern California Bankruptcy Attorney

If you are an individual or a business-owner in Corona, the Inland Empire, Orange County, or West Los Angeles and you are facing overwhelming debt, it is important to seek legal help from a competent legal professional. Consulting with a Southern California bankruptcy lawyer at Fransen & Molinaro may be the wisest choice in dealing with your situation. Our attorneys have extensive experience in dealing with all types of bankruptcy cases, from a simple Chapter 7 filing for an individual to a complicated Chapter 11 business case. The timeline for a typical Chapter 7 filing is listed below to give you an idea of the steps involved.

1. Within 6 months of filing, you must receive credit counseling from a government-approved agency and obtain a certificate of completion. Within 3 months of filing, you shouldn't charge luxury goods or take out cash advances on your credit cards.

2. On the day you file, you will have 15 - 30 days to supply any missing documents. Generally, your Southern California bankruptcy attorney will include all financial documents along with your petition at the time of the filing.

3. After filing, you will be required to complete a personal financial management course from an approved agency for which you will receive a certificate of completion which must be filed with the court.

4. An automatic stay is imposed on your creditors by the court prohibiting them from making any further collection attempts or from legal action against you for overdue bills.

5. 20 - 40 days after filing, a meeting of your creditors, called a 341 meeting, takes place. At this hearing, you will be asked questions about your bankruptcy petition by the trustee assigned to your case. Your creditors may attend. The purpose of this meeting is to ensure that your financial statements to the court are accurate. If any of your creditors challenge your bankruptcy case, your Southern California bankruptcy lawyer from F&M will address them.

6. 3 - 6 months after filing, you will receive a discharge of your debts when the court rules that you are legally relieved of them. Creditors cannot take action against you for these dischargeable debts ever again.

Contact a Southern California Bankruptcy Attorney for experienced legal representation with any type of bankruptcy case in the Southern California area today!