Orlando Florida Bankruptcy process

You need to understand the process of bankruptcy in order to understand what you are up against and whether you are eligible to file for bankruptcy. The process and timeline for bankruptcy filing in Florida will depend on whether you are filing under chapter 7 or chapter 13, however, the basic outline of the whole process are highlighted below;

1. Your bankruptcy case will normally and formally begin with the determination of your eligibility . You must have completed a credit counseling briefing within the last 180 days. If you had file or attempted to file for bankruptcy before this time, then the law requires that you wait for some time before you make another application.

2.Your formal filing for bankruptcy starts by filing your bankruptcy petition at the bankruptcy court. A stay on all collection efforts by your creditors is imposed by the court at this stage and this include foreclosures. A bankruptcy trustee is assigned to monitor your case as well.

3. You must file some important information with the court especially within 15 days of filing. Such information include ; liabilities, Income, expenses, assets declaration, and in cases of chapter 13 bankruptcy, you will need to declare your reschedule payment plan.

4. A statement of intention about your debt must also be filed at the court and this include the debts you want to reaffirm in order to keep some particular properties and continue making payments on the debts.

5. The bankruptcy trustee will often file a notice of meeting with your creditors within 45 days of filing your bankruptcy. You will need to make your presence known at this meeting because you will testify under oath regarding the accuracy of all the information you have provided in your bankruptcy information.

The discharge of all eligible debt will be the conclusion of your bankruptcy charges. Chapter 7 cases are often resolved within 6 months while chapter 13 cases will take between 3-5 years for it to be resolved. By working with an experienced attorney, you will ensure that your bankruptcy case goes smoothly and your debts are discharged as soon as possible.

Contact an Orlando Bankruptcy Attorney today and you will be glad you di