VIRGINIA BANKRUPTCY ATTORNEY
What Is the Process for Filing Chapter 7 Bankruptcy?
Are you considering filing for Chapter 7 bankruptcy? Your first step should be to consult first with experienced Virginia bankruptcy lawyers. We can walk you through every step of the process. We know that this is a stressful time for you and your loved ones, but thankfully, we at New Day Legal can handle your case so that the process runs as smoothly as possible.
What Are the Steps Involved?
There are various steps that you should take to prepare yourself for the bankruptcy process. It may take as few as several weeks and up to six months to complete. IT is also fortunate that those who file Chapter 7 are hardly required to appear in court to complete the process, save for the appearance at the beginning.
These are the main steps involved in the bankruptcy process:
- The petition is filed with the courts. An automatic stay is issued, which means creditors may not contact you regarding any debts that you owe.
- A trustee is appointed to handle your case.
- You will meet with creditors to discuss our debts.
- The courts will determine your eligibility to file for Chapter 7.
- Nonexempt property will be evaluated to determine if it should be seized or sold.
- Secured debts must be paid or returned to creditors. You can choose to reaffirm the debts as yours, but without a lawyer, you must participate in a reaffirmation hearing.
- Participate in a debt education class.
- Your debts will be discharged within at least six months. The automatic stay is then lifted.
Before beginning the bankruptcy process, our Virginia bankruptcy lawyers recommend seeking credit counseling. This can help you decide whether or not bankruptcy is the right option for you and may even help you explore other debt relief solutions, if applicable to your situation.
Get a Trusted Team on Your Side!
We know you have many questions about the bankruptcy process. That is why we are here to help. New Day Legal possesses 30 years of experience. Many individuals and business owners alike place their trust in us to help them mend the damage that debt has had on their lives and help them rebuild for the future.
Contact us today at ((540) 788-2273 to schedule a free case consultation.