Bankruptcy has the power to give you legal relief from your debts. However, to receive a bankruptcy discharge (which erases your dischargeable debts) there are a few things that you are responsible for doing.
Mandatory Debt Counseling
When you file for bankruptcy you must complete two courses: debt counseling and debtor education. Both courses can be completed online or over the phone. Generally speaking, they are straightforward, inexpensive, and not too time consuming.
The debt counseling course must be completed within 180-days prior to filing for bankruptcy. When you finish the course you will receive a certificate of completion, which must be filed with the Bankruptcy Court along with your bankruptcy Petition.
The debtor education course must be completed after filing for bankruptcy. It is a mandatory two-hour course in personal financial management. The curriculum is designed to teach you strategies on how to handle your finances after bankruptcy.
Learn more about these courses in our article Debt Counseling Requirement.
Gather the Necessary Documents
There is a list of documents we need to complete your bankruptcy petition and a number of documents that must be provided to the Bankruptcy Trustee assigned to your case.
To view the list of documents we’ll need click here. We understand that for some people gathering documents is one of the most daunting tasks of filing for bankruptcy. If you begin to feel overwhelmed, slow down and tackle the list one document at a time.
Attend the Meeting of Creditors
Every person who files for bankruptcy must attend a Meeting of Creditors. While the name of the hearing may seem intimidating, know that generally creditors do not attend the meeting. The Meeting of Creditors is not held in a courtroom, there will not be a judge present, and it typically lasts less than ten minutes. The meeting is conducted by the bankruptcy trustee assigned to your case.
At the Meeting of Creditors you will not have to defend your choice to file for bankruptcy. To learn more read our Survival Guide to The Meeting of Creditors.
Full Financial Disclosure
To get the benefits of bankruptcy, the trade off is that you must give full financial disclosure in your bankruptcy petition. You must include a complete list of your income, expenses, debts, and assets.
Bankruptcy petitions are filed under penalty of perjury. It is critical that you be thorough and truthful in your petition. Prior to filing your bankruptcy petition you must review it to ensure that it is complete and accurate to the best of your knowledge.
We’re committed to helping people get out of debt and gain the financial freedom they deserve. We invite you to learn more about who we are here. If you line in Savannah, GA or the surrounding areas and have questions about your debt relief options, let’s meet for a free consultation. Please reach out to us at (912) 351-9000 or contact us by filling out this simple web form.
We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.