The Bankruptcy Process
Understanding the Bankruptcy Process
The bankruptcy process involves several stages, beginning with an initial consultation with a California bankruptcy lawyer who can review your financial data and determine if you are qualified to file for bankruptcy. Working with an attorney isn't a legal requirement, but is strongly advised due to the complexities and technicalities of bankruptcy law. You must also decide if you will be filing bankruptcy under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code. The next step is to receive mandated credit counseling from a government-approved organization. Once you have completed the counseling, you can file your petition with the court.
A trustee will be appointed form the U.S. Trustee's Office to review your petition. The Trustee may also appear in court to ask you questions about the information contained in your petition. Before discharging your debt, the law requires you to complete a financial management class. Both the credit counseling and financial management class are conducted by telephone.
Bankruptcy Attorney in California
A knowledgeable lawyer can give review your bankruptcy qualifications, answer your questions regarding the bankruptcy process, and discuss what you can expect as your case progresses. Be prepared to provide your attorney with financial information such as:
- Income tax returns
- A complete list of your assets
- A complete list of debts, financial obligations, etc.
- Bank statements
- Current income data
Lawyers at Price Law Group are extremely proficient in bankruptcy cases and can provide competent direction in legal matters concerning your debts. We are sensitive to the needs of people in financial distress, and will diligently in pursuing a rapid resolution to these debilitating circumstances.
Contact a California Bankruptcy Lawyer
to find out more about the bankruptcy process and how to use this legal remedy to your advantage.
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