Assistance Throughout Every Step of the Process
At Avery Law, our Idaho bankruptcy lawyers work tirelessly to help you
bankruptcy process as swiftly, smoothly and successfully as possible. While every
bankruptcy case varies on a unique basis, U.S. bankruptcy law establishes
a general bankruptcy timeline that applies to most cases, regardless of
the Chapter of bankruptcy you file under. The following sequence of events
can help you gain a better picture of how the bankruptcy process progresses:
Eight Years Before Bankruptcy
You are ineligible for a Chapter 7 discharge until eight years from the
date you filed a prior Chapter 7 bankruptcy and received a discharge.
If you received a Chapter 11 or Chapter 13 discharge in a case filed within
the previous six years, you will be eligible for a Chapter 7 discharge
if, during your prior case, you paid at least 70% of your unsecured debt.
If you have filed bankruptcy before and are unsure about your current
eligibility to file a new case, our firm can assist you in determining
if you qualify.
Within 180 Days of Filing
Under the new laws enacted by the Bankruptcy Abuse Prevention and Consumer
Protection Act (BAPCPA), all consumers must complete credit counseling
within 180 days prior to filing.
Your bankruptcy process will formally begin once you have filed a petition
with the bankruptcy court. During this initial stage, the court will also
issue a court ordered automatic stay. As a result of the automatic stay,
all collection activities against you, including wage garnishments, lawsuits,
foreclosure proceedings and debt collection phone calls, will cease while
your bankruptcy is pending.
After you have filed your petition, you will eventually be required to
attend a meeting of creditors. This typically occurs within 60 days after
filing and is mandatory. During the meeting you will be required to answer
questions, under oath, regarding your financial affairs and property.
After the creditors' meeting, your bankruptcy will progress according
to your financial situation and the Chapter of bankruptcy you have filed
under. Our Idaho bankruptcy attorneys can help you use this time to prepare
for your financial future and for the period after your discharge has
been granted or your payment plan established.
Learn More About Your Bankruptcy Timeline
By having experienced, knowledgeable and caring attorneys by your side,
you can be sure that your bankruptcy timeline will progress smoothly and
without crucial errors. Having filed
more than 5,000 bankruptcies throughout our
more than 28 years of practice, our Idaho bankruptcy lawyers are prepared to help you through the process
from beginning to end.
We have outlined the basis bankruptcy timeline to provide you with a general
understanding of what you can expect. As the timeline may vary depending
on your unique situation, we recommend that you schedule a free
case evaluation to meet with a member of our legal team for an in depth analysis of your
situation. To discuss your case and learn more about the ways in which
your bankruptcy will progress,
contact Avery Law today.