The Bankruptcy Process

How Does It Actually Work?

Filing bankruptcy can stop creditor harassment and give you a fresh financial start if you are dealing with excessive credit card debt, mortgage problems or other financial difficulties. At The Collins Law Group, our attorneys and staff are here to help.

While the idea of bankruptcy might make sense, the bankruptcy process can seem complicated. If you are trying figure out whether bankruptcy will be beneficial to you, it can be helpful to know what it actually involves. The process includes these steps:

  • You meet with an attorney to review your debts, income and assets in detail.
  • If you qualify for and decide to proceed with a bankruptcy, we determine which debts will be included in your filing.
  • We complete the necessary bankruptcy forms for you, you sign them in our office, and we transmit a bankruptcy petition electronically to the bankruptcy court.
  • Your creditors are notified of the filing by the court. This prevents the creditors, which may be credit card companies, banks or other entities, from being able to continue their collection efforts.
  • A trustee meeting (sometimes called a 341 Hearing) is arranged in federal court in Tampa, usually about 40 days after the bankruptcy petition is filed. This meeting, which is presided over by a court-appointed trustee and which requires your attendance, deals with discharging and/or reorganizing your debt. We will appear at this meeting with you.
  • We represent you in dealing with creditors and trustees until debts are officially discharged or paid off, and the process is complete.

If you decide to file Chapter 7 bankruptcy or Chapter 13 bankruptcy, our team will walk you through the process and help you get the relief you are looking for. We understand that you probably have many questions and concerns about bankruptcy, and we can answer them all.

Contact a Sarasota Bankruptcy Means Test Lawyer

At The Collins Law Group, we can help you understand whether bankruptcy is the right solution for you. Contact our Florida attorneys to learn more about filing in the Sarasota area and explore your options for debt relief.

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