Bankruptcy Timeline

Your initial consultation is risk free and will be scheduled for approximately one hour.  During the appointment, the St. Bernard attorney will ask you questions about your assets, debts and average monthly income and expenses.  These questions are designed to allow the attorney to provide you with helpful and accurate feedback.  If you have no idea how to value your main assets (such as real estate, automobiles, or free and clear expensive collectibles), you can use our quick links page to access helpful resources for valuation before your consultation.  Our goal for the initial consultation is to educate you regarding bankruptcy and recommend a course of action to guide you out of your financial storm.

When you are ready to get relief, you will schedule a 30 minute retention appointment with St. Bernard Bankruptcy.  During this appointment, a $500.00 retention/minimum fee is due which allows you to immediately start advising your creditors that “I/We have retained an attorney, and St. Bernard Bankruptcy will be handling all future phone calls.”  This stress reducing benefit allows you to focus on completing our information packet so you can promptly expand your protection by filing the bankruptcy.  As part of the retention process, we will also pull your credit report, complete a fee agreement and explain how to fill out the questionnaire.  You will be able to contact us anytime with questions involving your matter.

The documentation necessary for filing your case will depend on the complexity of your financial situation.  For example, if you own a business or have other complicating factors you will need to provide more information.  St. Bernard Bankruptcy provides a questionnaire and a checklist of required documents to assist you.  Typical necessary documents include pay stubs, recent tax returns, recent bank statements and copies of bills.  Clients must also complete an approved consumer credit counseling session during the six months proceeding filing bankruptcy.  The session may be done in person, by telephone or over the internet and usually costs between $25.00 - $50.00 per person.  The counseling agency then issues a certificate which is filed with the case.  Our quick link page includes the United States Trustee website listing approved counseling agencies.  You will also receive a list from St. Bernard’s when you retain the office.

Once you have returned the necessary forms and documentation to St. Bernard’s, your information is entered onto our bankruptcy system and is reviewed by our staff who will contact you with requests for missing or additional information as well as clarification.  The St. Bernard’s attorney will then conduct a detailed review and analysis of your information.  We will contact you to schedule a final signing appointment.  During that appointment, you will review every document prior to filing to ensure your information is complete and accurate.   In most instances, your case is electronically filed at the conclusion of the appointment.  The filing of your bankruptcy case automatically stays (or stops) collection activity.

All debtors must attend a “341 Meeting of Creditors”.  This meeting at the Court house typically lasts about five minutes.  It is an opportunity for the trustee assigned to your bankruptcy case to ask you questions regarding the accuracy of your filed court documents and to determine whether further action will be necessary.  Your creditors may appear and ask questions although most creditors do not attend.  The St. Bernard attorney will meet with you in advance to prepare you for this meeting.

You must attend a second (post-filing) financial management course within 45 days of your 341 Meeting of Creditors for Chapter 7 Bankruptcy Cases (and prior to discharge in Chapter 13 cases).  The session is available in person, by telephone or via the internet and averages $17.50-$80.00 per person depending on the agency.  A certificate is issued by the counseling agency which is filed with the Court.

You may have other requirements which must be met prior to receiving your discharge order.  These additional requirements are based upon various factors such as the type of bankruptcy, whether you have an asset case and other circumstances.  For example, some Chapter 7 Bankruptcy cases involve the turn-over of funds and/or tax refunds.  Chapter 13 Bankruptcies require that  Chapter 13 plan payments are submitted.  The St. Bernard attorney will discuss any other requirements specific to your case and assist you in getting your discharge.

The usual reason for filing bankruptcy is the Discharge Order.  This is the court order that forgives you of debt.  Most types are debt are forgiven but some debts cannot be discharged.  For example, you cannot discharge debts for most taxes, child support, most student loans, court fines, and criminal restitution.  There are additional situations which can result in a debt not being discharged.  The St. Bernard Bankruptcy will analyze whether any of your debts will not be discharged and will disuss the reasons and your options.

A bankruptcy will remain on your credit report in the court action section for ten years.  However, most clients see an improvement in their credit following bankruptcy because the creditors are no longer reporting delinquencies each month.  You will be surprised by the number of credit offers you receive following bankruptcy but caution should be taken before signing on for new credit.  St. Bernard Bankruptcy recommends taking a conservative and planned approach to rebuilding credit, including participating in a formal program to rebuild credit in the most effective manner.