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The Chapter 7 Process- Step By Step

By Cynthia Podis

Nashville Bankruptcy Attorney

  1.  Set a free appointment to see Podis and Podis to discuss your options under the Bankruptcy Code.
  2. Bring your Drivers’ License, Social Security Card, latest pay check stub, and an estimate of how much you owe to your appointment.
  3. You would then schedule a Second Appointment with us. The first half of the appointment is when you go through the pre-bankruptcy Financial Counseling Class in order to obtain the certificate that is necessary for you to file bankruptcy. You will also provide your financial information, bank statements, paystubs and tax returns.
  4. The second half of the appointment involves answering all the questions in the Chapter 7 Petition and then signing the Bankruptcy Petition.
  5. Upon review by Mark Podis, the petition is filed with the Bankruptcy Court in the Middle District of Tennessee.
  6. The Bankruptcy Court automatically assigns a case number, court date, and time for the Meeting of Creditors which is mailed and e-mailed to your creditors through the Bankruptcy Court Noticing Center.
  7. Upon receipt of the Bankruptcy Court Notice, the Automatic Stay of 11 §362  is in place for 45 days or until a creditor obtains an Order of Relief signed by a Bankruptcy Court Judge.
  8. We send copies of your tax returns, pay stubs and bank statements to the United States Trustee and the case Trustee assigned to your Bankruptcy for their review.
  9. We will file any necessary motions in your case such as: Avoid Liens, Redeem Property or Complaints to Determine Discharge of Tax Debt.
  10. You must take a Post-Petition Financial Management Class and obtain a Certificate of Attendance which we will file with the Court on your behalf.
  11. Attend your Meeting of Creditors.
  12. Answer the questions of the Trustee honestly and completely.
  13. At the Meeting of Creditors we will deal with any creditors who appear and discuss any Reaffirmation Agreements that were not provided before the court date.
  14. Pay your filing fee to the Bankruptcy Court Clerk (if you did not pay it in advance).
  15. After the Meeting of Creditors, attend any extra court dates that come up (our clients are generally notified before the court date if they must appear or an agreement has been reached.)
  16. Creditors may file objections to Dischargeability of a Debt or Motions for Relief of Stay.  At Podis and Podis, we have you come to our office to discuss these matters.
  17. The United States Trustee’s Office must file a report stating if your case is an abuse of the Bankruptcy Code or not an abuse of the Bankruptcy Code.  (If the U.S. Trustee states your case is an abuse of the Bankruptcy Code, the U.S.Trustee has 30 days to file a Complaint to Dismiss or Convert your Bankruptcy to a case under Chapter 13.)
  18. If no objections or other motions are filed, you will receive an Order of Discharge from the Bankruptcy Court Clerk’s Office no sooner than 61 days after the Meeting of Creditors was held.

 

If you would like to know more about filing a Chapter 7 or Chapter 13 Bankruptcy, please call us for an appointment at 615-399-3800 or see our website at www.BankruptcyNashville.com

This is a blog post, this is not legal advice and should not be considered legal advice.  We do not represent you until you meet with us in our office, hire us and provide the information we request from you.

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How Does Chapter 13 Bankruptcy Work?

How does Chapter 13 Bankruptcy Work?

By Cynthia Podis, Nashville Bankruptcy Lawyer

Chapter 13 Bankruptcy is a repayment plan that is facilitated by the Bankruptcy Court. You must list all of your debts and assets in the Bankruptcy Petition (forms that are  filed with the court). Once the Bankruptcy Petition is prepared and filed with the Bankruptcy Court, your creditors are notified by the Court of the filing of the bankruptcy and the date and time of the Meeting of Creditors. You begin making payments to the Chapter 13 Trustee to fund your Chapter 13 Plan. If you have a regular paycheck, the Chapter 13 plan payment is payroll deducted. If you receive Social Security Income or are self-­employed, you can use a direct pay service from your checking account to make your payment.

The Meeting of Creditors is your court date. This is where your bankruptcy lawyer proposes the Chapter 13 Plan of repayment to the Chapter 13 Trustee for approval of the court. Your creditors have the opportunity to show up and ask questions. Mostly car creditors or other secured lenders send a lawyer or representative to ask for proof of insurance on their collateral or ask for better treatment under the plan of repayment, such as a higher amount of interest, or monthly payment. The Trustee asks you and your bankruptcy lawyer questions about your Chapter 13 Plan.

When your Chapter 13 Plan is approved. You will make the Chapter 13 plan payments through the Chapter 13 Trustee who will then mail payments to your creditors. It is important to list everyone you owe money too in your Chapter 13 plan. You will continue to pay your living expenses, such as rent, electric, gas and water bills directly.

The Chapter 13 Trustee in Nashville offers a Financial Management Class that you schedule on the Trustee’s website at http://www.ch13nsh.com/debtored/ch13class.aspx

During your Chapter 13 plan, you cannot sell assets or finance anything on credit without permission from the Bankruptcy Court. It is important to keep your bankruptcy attorney up to date with your address, phone number and email address. If you change your employment, let your bankruptcy lawyer know so they can update the court with that information.

Chapter 13 Bankruptcy helps you keep a car or house if you are behind on the payments. If you have filed a Chapter 7 Bankruptcy in the last 8 years (or earlier), you may still be eligible for a Chapter 13 bankruptcy. You can file a Chapter 13 Bankruptcy even if you qualify for a Chapter 7 Bankruptcy.

Most clients file Chapter 13 Bankruptcy to keep items they cannot protect under Chapter 7 or to catch up on house or car payments. Clients file Chapter 13 Bankruptcy to allow them to get out from under the stress of overwhelming bills and set up a repayment plan that allows them to enjoy their lives while keeping their assets.

For more information visit www.BankruptcyNashville.com or call 615­399­3800 and schedule a free appointment with us! Podis and Podis, 1161 Murfreesboro Pike Suite 300, Nashville TN 37217

We are a debt relief agency. We help people file for bankruptcy under the Bankruptcy Code.

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How to choose a Bankruptcy Attorney

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Chapter 7 Bankruptcy

It is income tax time!  We see a lot of clients filing Chapter 7 Bankruptcy this time of year.  It is very important to let your attorney know the amount of your expected income tax refund.  Do not spend your tax refund before you speak to your attorrney.  Why?  Because the Chapter 7 Trustee can take the money back from creditors or friends and family members you have repaid with your refund as a “preferential transfer”  — you chose to pay them instead of your other creditors.  So, to your protect your refund, be sure to have this discussion with your attorney!  For more information, see our website at www.PodisBankruptcy.com

Cynthia Podis Bankruptcy Attorney in Nashville TN
Cynthia Podis
Bankruptcy Attorney in Nashville TN