Understanding the Bankruptcy Process
Are you currently struggling with debt and looking for relief? Filing for bankruptcy may seem like a last resort, but it is also a way for you to have a fresh start and regain control over your finances. Before making any decisions, it is important that you hire a skilled bankruptcy lawyer in Royal Oak and Southeastern Michigan to assist you. At Gudeman & Associates, P.C., we can ensure that you know what to expect and our team will guide you every step of the way through the process.
Regardless of which type of bankruptcy you file for, you will need to take these steps:
- Complete a credit counseling class within six months of filing
- Fill out the petition and any other required forms
- File your petition and documents with the local court
Our experienced team of attorneys, paralegals, and legal assistants can help you navigate the process of filing for bankruptcy. We offer no-obligation initial consultations to assess your unique circumstances and determine the best solution for your situation.
Understanding the Bankruptcy Timeline
While every state differs slightly, the process of filing for bankruptcy is relatively similar from state to state. For the most part, federal law regulates the bankruptcy procedure, allowing us to more accurately educate you on what will happen in coming weeks and months. There will be some steps that you will need to take regardless of the type of bankruptcy you are filing for, while others will depend on which chapter of bankruptcy you choose.
You can expect the bankruptcy process to generally go as follows:
- First, your financial situation is assessed, and you may be asked to take a means test.
- Next, all paperwork is filed with the Bankruptcy Court.
- After the paperwork is filed, an automatic stay is put in place.
- Following this, you will have to meet with bankruptcy trustees.
- Finally, your debt will be discharged or restructured.
Our firm focuses exclusively on consumer bankruptcy, giving us the necessary skills, resources, and attention to detail to help you through the process. Whether you are filing Chapter 7, Chapter 11, Chapter 12, or Chapter 13, we are prepared to help.