Bankruptcy Process
Clear Steps Toward Financial Relief
Filing for bankruptcy does not have to feel confusing or overwhelming. When you understand the steps involved, the process becomes far more manageable. With the guidance of an experienced Fort Wayne bankruptcy attorney, each stage is handled efficiently and with your goals in mind.
Below is an overview of the typical bankruptcy process and what you can expect when working with Attorney Holly Ripke.
Meet With a Bankruptcy Attorney
Your bankruptcy case begins with a private consultation. During this meeting, your income, debts, assets, and financial goals are reviewed. Based on your situation, Attorney Ripke will recommend whether Chapter 7 or Chapter 13 bankruptcy is the best option. A case is only filed if bankruptcy is expected to improve your financial situation.
Complete Required Credit Counseling
Before filing, federal law requires completion of a credit counseling course through an approved provider. This course can be taken online and must be completed within 180 days before filing. Once finished, a certificate is issued and filed with your bankruptcy case. Our office can help you locate an approved provider.
File Your Bankruptcy Case
After your paperwork is completed and reviewed with you, your bankruptcy case is filed with the court. Once filed, the automatic stay immediately goes into effect. This legal protection stops creditor calls, wage garnishments, lawsuits, repossessions, and foreclosure actions.
Trustee Reviews Your Case
A bankruptcy trustee is assigned to your case.
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- In Chapter 7, the trustee reviews your filing and determines whether any non-exempt property exists. Most individuals do not lose property.
- In Chapter 13, the trustee reviews your repayment plan and collects monthly payments to distribute to creditors according to the court-approved plan.
Attend a Short Trustee Meeting
Approximately 30 days after filing, you will attend a short meeting with the trustee known as the Section 341 Meeting. This is not a court appearance. The trustee asks basic questions under oath based on your paperwork. Creditors rarely attend. You will be fully prepared in advance, and Attorney Ripke will attend with you.
Complete Financial Education
After filing, you must complete a debtor education course to receive a discharge. This course focuses on financial management and can be completed online. Once finished, a certificate is filed with the court.
Receive Your Bankruptcy Discharge
In Chapter 7, a discharge is typically issued a few months after filing.
In Chapter 13, the discharge is granted after successful completion of the repayment plan.
The discharge legally eliminates qualifying debts and allows you to move forward with a fresh financial start.