The Bankruptcy Process in California
Experienced San Jose Bankruptcy Attorney
When facing debt problems such as overwhelming medical debt, it can be challenging to see past the debt. Even once you have made the decision to file for bankruptcy, you may be overwhelmed or anxious about the bankruptcy process. Gemma V. Reyes, Attorney at Law, recognizes that having informed knowledge can ease your mind. We not only answer your questions about filing the bankruptcy petition, we offer straightforward answers and explain the whole process upfront.
Trust in our more than 20 years of experience. Talk to our San Jose bankruptcy petition lawyer about your concerns. Call 408-292-6289 or contact our San Jose bankruptcy law firm online.
The Bankruptcy Process — Chapter 7 and 13 Personal Bankruptcy
Attorney Reyes has comprehensive knowledge of bankruptcy laws in San Jose and can help you understand the important steps in filing your bankruptcy petition and completing your bankruptcy:
- Filing the bankruptcy petition: We work with you to create your initial bankruptcy petition. The petition must include fully prepared financial statements. It is important to fully disclose all aspects of your financial situation so that it may be addressed in your bankruptcy petition.
- Automatic stay: Once your petition is filed with the court, the court will issue an automatic stay. This prohibits any further action by creditors to collect debt. In effect, it stops foreclosure, repossession, wage garnishments, bank levies, creditor harassment and other forms of debt collection.
- Credit counseling: Whether you are filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy, all individuals filing for personal bankruptcy must complete a credit counseling course once the bankruptcy petition is filed. This is an important piece to ensuring you don't fall back into the same financial situation after your bankruptcy is complete. We can advise you of court-approved credit counseling options.
- Creditors' meeting: The creditors' meeting is an opportunity for your creditors to review and question your assets and debts, as disclosed in your bankruptcy petition. Opposing creditors may file motions regarding specifics of your financial situation. For example, if you are facing foreclosure, creditors may file motions to assert their secured interests.
- Debt discharge and bankruptcy plan: If you have filed for Chapter 7 bankruptcy, all eligible debts may be discharged after the creditors' meeting and settling of any creditor motions. If you have filed for Chapter 13 bankruptcy, we will assist you in reorganizing and consolidating your debts into a three- to five-year repayment plan. Once the plan is approved by the court, you will begin making a single monthly payment to a bankruptcy trustee (who will disburse payment to creditors in accordance with the plan). At the end of your repayment plan, remaining unsecured debt is discharged.
The bankruptcy process can vary depending on the Chapter of bankruptcy under which you file and any complications that arise throughout the process. A critical component to a successful bankruptcy is fully disclosing everything to your bankruptcy lawyer. Without full disclosure, financial pieces will likely be exposed at a later date, resulting in questions of fraud, inaccuracies in your bankruptcy petition and other challenges.
Our law firm is with you through the legal process. We are dedicated to helping you achieve debt relief and moving on into a life with peace of mind about your finances. If you are also facing divorce during this difficult time, we are equipped to continue to serve your needs in dealing with bankruptcy and divorce.
Contact Our San Jose Consumer Bankruptcy Attorney
Whether you have questions about the bankruptcy process or have concerns about obtaining debt relief, rest assured that our law firm is focused on providing honest answers and finding the right solution to fit your needs. Contact a knowledgeable San Jose bankruptcy attorney to discuss how we can help. Call 408-292-6289.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.