Understanding The Process of Bankruptcy
Many of our clients imagine bankruptcy as a long and drawn out process full of judgments and embarrassing arguments with creditors. The reality is significantly different, and among the most common statements we hear from our former clients is: that was it?
We understand that the decision to file for bankruptcy is a serious one that can have both immediate relief and long term consequences. It is not something we ever recommend clients do because it is quick or easy, but because it is the right thing, but it is also important to realize that there is often a smooth process that we can put you on so that within only a few months you are back on the course toward a better financial future.
In Washington D.C. and across Northern Virginia, contact the attorneys at the law office of Pesner Kawamoto Conway, PLC, for reliable, personalized and confidential bankruptcy counsel.
An Established and Reasonable Process
In very simple and general terms, here is the sort of process you can often expect when filing for Chapter 7, Chapter 11 or Chapter 13 bankruptcy:
- 3 to 5 days after filing notice is sent out to creditors
- Creditors are no longer permitted to seek collections against debt — any harassment ends
- A trustee is appointed
- There is a creditors meeting to verify your petition, which may last as little as 15 minutes
- Your bankruptcy goes before a judge — you are not required to attend usually
- Usually within 45 days the court discharges your debt
While it is possible that unforeseen challenges or difficulties could arise, the frequency of those challenges is rare. For most clients this schedule is followed relatively closely. After all, bankruptcy isn't a privilege, it is a financial tool to which you have a right.
We will explore all debt relief options available to you and seek to protect key assets such as your car or your home. Working with our attorney, you get a financial solution built specifically toward your needs.
Find Out More About Bankruptcy
We understand that most people have serious questions and concerns to be addressed before deciding to proceed with a bankruptcy. The worst thing you can do is not have the right information to make the right decision.
Contact our McLean, Virginia, lawyers today to discuss your debt relief options and to get the information you need.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
