Many of our Las Vegas clients contemplating bankruptcy ask us to describe what will happen during the course of their bankruptcy case. A Chapter 7 bankruptcy filing, if done correctly, can be a straightforward and simple process. Make sure, however, that you have a bankruptcy lawyer who will stand up to your creditors and guide you through your case so that you can emerge from bankruptcy with little, or no, debt.
Here are the major highlights of a Chapter 7 bankruptcy:
- Before filing for bankruptcy, call our Las Vegas offices at 702-903-1208 to schedule a free initial consultation with our knowledgeable and experienced bankruptcy lawyers. If you are calling from within Nevada, you can also reach us at 702-903-1208. We’ll help you determine whether bankruptcy is right for you.
- You must complete a credit counseling course within 6 months prior to filing for bankruptcy. Our lawyers will provide you with a list of approved credit counselors in Las Vegas.
- Once the course is completed, our bankruptcy lawyers will file your bankruptcy petition for you, along with other appropriate documents listing your creditors, assets and liabilities, in the bankruptcy court in Las Vegas. Your creditors will be notified by the clerk of the bankruptcy court, and all legal actions and collection activities must stop immediately. Additionally, the bankruptcy court will assign a bankruptcy trustee to oversee your case.
- In the 3-6 weeks following your bankruptcy filing, the bankruptcy court will schedule a meeting of your creditors, which you are required to attend. The trustee appointed to your case will also attend. At this meeting, you will be asked questions about the documents filed in your bankruptcy case with the bankruptcy court. Our lawyers will represent you at the meeting and resolve any issues your creditors or the trustee do not agree with or understand.
- Following the meeting of your creditors, the bankruptcy trustee and your creditors have 30 days to object to all of your exemption claims. Our lawyers will ensure that your exempt property does not fall into the hands of your creditors.
- Your creditors then have 60 days after the meeting to object to the discharge of any of your debts. The bankruptcy trustee also has 60 days after the meeting to dismiss your case if he finds that your bankruptcy is an abuse of the provisions of Chapter 7. We will fight any creditors, and work with the trustee, to make sure that you receive the relief you need in order to start fresh.