Bankruptcy Attorney Denver

Filing a bankruptcy in Denver is a legal process. The following is a brief summary of the steps involved in a Chapter 7 bankruptcy.  As bankruptcy attorneys, we get to go through this process everyday.

1. Credit Counseling- You will need to complete a credit counseling course before filing your bankruptcy. An attorney can help you find a certified course.

2. Filing of the Bankruptcy Petition- The bankruptcy petition is submitted to the court. The petition will contain all of your financial information. Once this has been submitted to the court an automatic stay goes into effect. The automatic stay keeps creditors from foreclosing on your home, repossessing your vehicle, and from garnishing your wages. An attorney will tell you if you are short on data.

3. Trustee is Appointed- Once the bankruptcy petition is filed a trustee will be appointed by the court to review your case.

4. Recent Taxes- The most recent taxes must be sent to the trustee.

5. Meeting of Creditors- After filing a day and time will be scheduled for the meeting of creditors, this is usually twenty to thirty days after the date of filing. At this hearing you will meet with the trustee to go over your filed petition and if any creditors are present you will be able to explain your financial situation. The meeting of creditors is usually short, taking about ten to fifteen minutes. It is helpful to have your bankruptcy attorney at this meeting.

6. Trustee Action- At this point the trustee has all of your information and will make a decision about whether you qualify for a Chapter 7, if not you have the option of converting it to a Chapter 13. If your case is a no asset case then there is nothing else for the trustee to do. If your case is an asset case then the trustee will sell all non-exempt assets and divide the proceeds among your creditors. Here is where an attorney specializing in bankruptcy can be invaluable. 

7. Debtor Education- You will need to complete a debtor education/financial management course.

8. Discharge- You will receive your discharge two to three months after your Meeting of Creditors.

9. Case Closed- Soon after you receive your discharge your case will be closed. At this point you are no longer liable for any of the dischargeable debts listed in your bankruptcy petition.

Call us if you need an attorney in Denver who specializes in bankruptcy.