Filing Chapter 7 bankruptcy is generally the first step that you’re going take when it comes down to cleaning out all of your bills and more. Hopefully by now you’re going to find that an attorney is going to be a very important asset, as they are going to guide you along the process.
When you file for Chapter 7, the process can take up to 60 days. When you file, the creditors are all going to be notified of your upcoming bankruptcy. Even though you filed, you’re still going to get calls, as well as letters. If you’re going to respond to these, let them know that you have claimed bankruptcy and leave them at that.
In the next few weeks, the calls and letters should dwindle down, as they will get notified.
When you’re called to your hearing (within 60 days generally), you will be asked about everything that you have put down when you filed. When you filed, you more than likely listed all the bills that you owe. The court will ask you some questions, as well as make sure everything is 100% accurate. If there are no problems, this process is relatively easy.
The court process generally isn’t that long. It will usually take less than a half hour, as long as everything is in place.
Once you find out that everything is in order, you’re going to be able to be discharged. All the debt that you have cleared will no longer be your responsibility.
While bankruptcy can clear your debts, it’s going to hurt your credit score for a long time. During this time, you will find that it will be very hard to get mortgage, loan, or anything else.
All processes vary during Chapter 7 and remember that it is always best that you sign up with an attorney before you go in and do it yourself.
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