The Bankruptcy Process

Bankruptcy stops collection actions against you by any means including court actions. It can stop garnishments and lawsuits.

What is involved in the bankruptcy process? Can I keep my cars, home, etc.? These are just a few of the questions that are important to you in your bankruptcy case. Below is a brief description of the bankruptcy process.

In all bankruptcy cases, a debtor (person who owes money – you) must disclose all his/her assets, debts, income, and expenses. We must also look at your income for the past six months and other information relevant to your financial situation.

You must provide the following information to our office:

  • Copies of income tax returns for the last four years.
  • Copies of all paystubs, including unemployment compensation, social security payments, or any other income, your household has received in the last 6 months.
  • Copy of a credit report that has been run in the last 60 days.
  • Copies of any bills received in last 60 days (do not include utility bills, insurance, etc. if you are current with these bills).
  • Copies of any documents evidencing any ownership in any real estate, including real estate tax bills.
  • Copies of any documents evidencing any ownership in any automobiles.
  • Copies of any documents evidencing any loans secured by real estate, automobiles, or any other property.
  • Copies of any documents evidencing any other loans.
  • If any transfer(s) of any property have occurred in the last 4 years, any documents relating to the transfer(s).
  • Certificate stating debtor(s) have completed required credit counseling within 180 days prior to filing.

In all cases, you will sit down with one of our bankruptcy attorneys, John Ruddy or Lincoln M. King, and go through this information. We will discuss your assets and whether you want to try to keep the asset (house, car, etc.). We will discuss your debts and whether those debts must be paid. Your income and expenses will be evaluated as well.

We will complete the required bankruptcy forms and file them with the bankruptcy court. Approximately, one month after we file, you will have a meeting with your Trustee where one of the attorneys from our office will assist you in the meeting. We will explain to you what to expect in your specific situation at this meeting.

Call us today to schedule a consultation to discuss your case.