Bankruptcy Process

What does the Bankruptcy Process Entail?

There are several steps in the bankruptcy process and we will take you through each of those steps:

■ Free Consultation – Talk with one of our lawyers to determine your eligibility for bankruptcy and to have your questions answered.
■ Gathering Information – this step requires you to provide your attorney with your personal financial information including information concerning your taxes, income, debts, and assets.
■ Credit Counseling – this is a course that you must take before you can file your bankruptcy petition. We will set you up with a preferred provider so you can quickly finish and get your certificate of completion.
■ The Petition – Once you we have all the information we need and you have completed your credit counseling course we will file your petition in the United States Bankruptcy Court for the District of Maryland or District of Columbia.
■ Meeting of Creditors – This is a short meeting in which you, your lawyer, the U.S. Trustee and your creditors will have the opportunity to meet regarding your pending bankruptcy.
■ Monthly Payment (Chapter 13) – If you have filed for Chapter 13 bankruptcy protection we will formulate a repayment plan and consolidate your debt. Over the course of 3 to 5 years you will make one monthly payment to the U.S. Trustee since your debt will be consolidated.
■ Financial Management Course – After you file the bankruptcy petition you will need to take a financial management course before your debts can be discharged.
■ Discharge – After you complete the above your debts will be discharged and you can move on with your life with a new financial start.

Let’s Get Started

Give us a call at 301.357.4761 to set up a free consultation. Email us if you prefer. Either way, we’ll get you started right away.