Bankruptcy Timeline and Process

The Process of Filing Bankruptcy

Bankruptcy Attorneys in Baton Rouge

Most people struggling with debt need debt relief now. When bills are piling up, creditors are calling non-stop, and homeowners face the threat of foreclosure, there is no time to waste.

Bankruptcy is a debt relief option that has worked for millions of Americans. Derren S. Johnson & Associates helps clients make a fresh start through bankruptcy. Contact us online or call 888-564-6766 to schedule a free initial consultation.

Bankruptcy Timeline

The time it takes to file bankruptcy varies depending on what type of bankruptcy the individual is filing for: Chapter 7 bankruptcy, Chapter 13 bankruptcy, or Chapter 11 bankruptcy.

From the time of filing to the discharging of debt, Chapter 7 bankruptcy generally takes between two and three months. Chapter 13 bankruptcy sets a debtor up on a three or five-year repayment plan. The time it takes for a business to file Chapter 11 bankruptcy varies depending on the size of the business and other factors.

Bankruptcy Process

The bankruptcy process varies for each debtor, but in general, it involves:

• Meeting with bankruptcy attorney to discuss what debt relief options are available, and if bankruptcy is right for you.
• Gathering financial documents including financial statements, paycheck stubs, credit card bills, mortgage bills, and more. Other documents will also be required, such as your social security card, driver's license, and more.
• Taking means test which will determine your eligibility for Chapter 7 bankruptcy.
• Filing of bankruptcy petition in bankruptcy court.
• Ordering of an Automatic Stay which stops phone calls and all other actions to collect debts by creditors.
• Notification of creditors.
• Discharging of debt.

Contact Us

Bankruptcy can be a short, effective process with the help of an experienced attorney. To find out more, contact a lawyer online or call 888-564-6766. We will explain the bankruptcy process in a free consultation.