I've Filed For Bankruptcy, Now What?

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I've Filed For Bankruptcy, Now What?

As soon as your case is officially filed with the court you are granted an automatic stay. Creditors are legally prevented from attempting to collect on any debt owed to them by you. This means that creditors must stop all collection activity, including telephone calls, harassing letters, repossessions, foreclosures, lawsuits, and wage garnishments. Although the stay is automatic, creditors need to be advised of the stay. The court issues a notice to all creditors advising them of the filing of the bankruptcy. The creditors are informed of the following: the case number; the automatic stay; the date set for the creditor meeting; the deadlines for filing objections to the discharge of the debtor and; the deadlines for filing objections to the discharge of specific debts. The exact information that is required in the notice differs depending on the chapter under which the case is filed.

Other Filing Bankruptcy FAQs

Q: What Is The First Step In Filing For Bankruptcy?
A: After you have decided to file for bankruptcy, the first step is to file a petition with the Bankruptcy Court. On the petition, all your of your debts and … More
Q: Is There A Limit On The Number Of Times That I Can File For Bankruptcy?
A: The time periods between bankruptcies depends on the type of the previous filing and the type of new filing. If your new filing is a Chapter 7, you must wait … More
Q: If I File For Bankruptcy – Will My Spouse Need To Also?
A: No. In cases where both spouses have a lot of debt, a joint petition for a bankruptcy may be filed. Only married individuals may file a joint … More
Q: Where Do I Get A Copy Of My States Local Rules?
A: Copies can be obtained at the public service counters in the Clerk`s office of the Bankruptcy Court. In addition, many Bankruptcy Courts now have their rules online.
Q: Where Do I File My Bankruptcy Case?
A: The bankruptcy court is a federal court. The federal court system is divided into judicial districts. Every state has at least one judicial district. Your local … More
Q: What Documents Do I Need To Start A Bankruptcy?
A: Federal forms include: Form 1Voluntary Petition (2 pages), Form 6 Schedules A through J, Summary, and Declaration, Form 7 Statement of … More
Q: How Do I File A Document With The Court?
A: Bankruptcy petitions, pleadings and other papers may be submitted for filing by mail or in person at the Clerk`s Office public counters. After completing, assembling, … More
Q: What Is The "Filing Of Claims"?
A: The written statement filed in a bankruptcy case setting forth a creditor`s claim is called a proof of claim. The proof of claim should include a copy of the … More
Q: What Are Claims Objections?
A: You are entitled to object to any claim filed in your bankruptcy case if you believe the debt is not owed or if you believe the claim misrepresents the amount or kind … More
Q: What Is The Creditor's Meeting?
A: A meeting of creditors is the single hearing all debtors must attend in any bankruptcy proceeding. It is held outside the presence of the judge and usually occurs … More