Step 1: Preparing Your Chapter 7 Bankruptcy

Preparing your Chapter 7 bankruptcy involves getting your paperwork together, taking credit counseling, and signing the paperwork.

Get the Paperwork Together

The bankruptcy paperwork is about 60 pages and is a financial snapshot of what you own, your debts, and what has happened to you in the last few years. You can check out the Chapter 7 official forms published by the United States Courts. Cross Stone Law makes the process as smooth as possible. You have enough stress. We tell you what documents are needed for your particular case and obtain a copy of your credit report to help you identify all of your creditors. We are with you every step of the way.

Take Credit Counseling

You are required to take credit counseling from an approved agency. You take the course either online or by phone. The time it takes to complete depends on how complicated your situation is and generally runs from 15 minutes to one hour. To make it easy to complete the course, we give you a draft of your budget and a summary of your assets and debts. That helps you have the info you need to complete the course on hand. The counselor verifies the need to file bankruptcy and issues the certificate of credit counseling. This certificate is required in every case.

Sign the Paperwork

You will meet with Carol Cross Stone, the bankruptcy attorney, for around one to two hours to review the final draft of the Chapter 7 bankruptcy documents. The attorney files them with the bankruptcy court. The very minute the paperwork is filed, a Court order goes into effect called the automatic stay. This is a court order demanding all creditors cease collection from you or your property.

Once you’ve done all of this, we’re done preparing your Chapter 7 bankruptcy. Your case is ready to file now. On to Step 2 – Filing Chapter 7 Bankruptcy.