Bankruptcy Questions and Answers - After Filing Bankruptcy
The bankruptcy court will mail to each of your creditors a "Notice of Commencement of Case", informing them that you have filed the petition and advising them of the date of the First Meeting of Creditors.
About 30 to 40 days after filing the bankruptcy petition, you will be required to attend a hearing presided over by a bankruptcy trustee. This hearing is called the First Meeting of Creditors. The trustee is not a judge, but an individual appointed by the United States Trustee to oversee bankruptcy cases. At the First Meeting of Creditors the trustee will ask you questions under oath regarding the content of your bankruptcy papers, your assets, debts and other aspects of your financial situation.
In an ordinary chapter 7 proceeding the Bankruptcy Court will automatically grant an Order of Discharge 60 to 75 days after the First Meeting of Creditors. In a chapter 13 proceeding, the Court will enter an order confirming your chapter 13 plan once you meet all the requirements. In a chapter 13 proceeding you receive your discharge upon completion of the chapter 13 plan.
At the moment a bankruptcy petition is filed, your creditors are automatically restrained from taking any action to collect the debts owed them. There are some exceptions, for example, a bankruptcy petition does not stay the commencement or continuation of a criminal action, an action to collect spousal support, or an action to enforce a government's police or regulatory power.
Make sure the creditor is aware that you filed bankruptcy and ask it to stop collection efforts.
If the creditor does not respond, you may seek a court order enjoining the creditor from further action.
If you are an individual and are injured by your creditor's willful failure to comply with the automatic stay, the law allows you to recover actual damages, including costs and attorneys' fees, and, in some circumstances, punitive damages.
Yes. The decision of whether to extend you credit belongs to each particular lender. However, the fact that you filed bankruptcy, if properly explained, can be less damaging than a history of unpaid accounts.
bankrupt-law.com is a
The Law Offices of Lauren Ross
2550 N. Hollywood Way - Suite 404
Burbank, California 91505-5046
California State Bar No. 106225
The Law Office of Lauren Ross is a federally designated debt relief agency pursuant to Title 11 of the US Code and provides legal assistance to consumers seeking relief under the Bankruptcy Code.
THE INFORMATION CONTAINED IN THIS WEB SITE AND ALL RELATED SITES IS GENERAL LEGAL INFORMATION ONLY. IT IS NOT INTENDED NOR SHOULD IT BE USED AS SPECIFIC LEGAL ADVICE ON A PARTICULAR ISSUE OR FOR A PARTICULAR PERSON OR PURPOSE. IF YOU ARE SEEKING LEGAL ADVICE FOR A SPECIFIC SITUATION, YOU SHOULD SEEK THE ADVICE OF AN ATTORNEY QUALIFIED IN THE LEGAL AREA IN WHICH YOU NEED ADVICE. THE EXEMPTIONS DESCRIBED IN THIS COMMUNICATION ARE SPECIFIC TO CALIFORNIA RESIDENTS ONLY AND DO NOT APPLY IN OTHER STATES. THIS SITE ONLY CONTAINS GENERAL INFORMATION ON BANKRUPTCY, CHAPTER 7, CHAPTER 13, DEBT RELIEF, AND INSOLVENCY. BANKRUPTCY LAWS ARE SPECIFIC TO EACH STATE. THIS SITE IS OPERATED IN LOS ANGELES, CALIFORNIA AND THE AREA OF PRACTICE IS CALIFORNIA BANKRUPTCY.
Hosted By MIS Sciences Corporation