Let a Roanoke, Virginia Chapter 7 Bankruptcy Lawyer at Giles & Lambert, P.C. Guide You to Financial Solvency in the Western District

Chapter 7 bankruptcy, often referred to as a Straight Bankruptcy, is a way to eliminate (or discharge the obligation to pay) most unsecured debts, such as credit cards, medical bills, and utility bills. Some debts, such as student loans and many taxes are non-dischargeable, meaning they simply cannot be wiped out by a bankruptcy.

Did you know that most folks filing a Chapter 7 get to keep their house, cars, retirement plans, and other personal belonging? Well, most do. If you qualify for a straight bankruptcy, it can give a family or a single adult a chance to start again without the real burden of bills.

How does Chapter 7 Bankruptcy Work?

If you're considering a Chapter 7 Bankruptcy, the first step is to call 904-1793 to schedule a no-obligation consultation in either our Roanoke or our Martinsville office.  If you've already consulted with one of our attorneys, and they've advised you to file a Chapter 7 Bankruptcy, here's what you can expect when preparing and filing your case:

• First, you'll need to make the initial payment to retain our services, as discussed in your consultation. At this point, we'll provide you with the paperwork we require in order to file your case.  You'll have 60 days to gather the required information and return the completed paperwork to our office.  The sooner you're able to turn your information in, the faster we can get you under the protection of the Court.  So,  don't hesitate to call our office if you have any questions.
• When a creditor calls after you've retained us, you have the right to refer them to us.  We'll verify that you have hired us to file bankruptcy for you.
• If you have a payment plan, normally, your second payment will be due when you return your paperwork.  It will be helpful to schedule an appointment with your paralegal, so that you're able to discuss any information you lack or questions you may have.
• You'll need to complete the first round of required credit counseling.  Most times, the credit counseling costs are included in your fee quote and you have the option of completing the course online or through the telephone.
• It usually takes about one to two weeks to review your bankruptcy information and type up your petition once you've returned your paperwork to our office.  If your paperwork is incomplete, or if you neglected to disclose information, please be aware that the process can take longer.
• We'll contact you to schedule your signing, and your third payment (if you have a payment plan) will be due at this time.  At the signing, you will have the opportunity to review and verify all the information on your petition and schedules.  Once you have reviewed and signed the complete petition and schedules, we'll file your petition with the court.  You'll be assigned a case number and a Trustee. At this point, you'll be under the court's protection as your case has now been "filed".
• You'll receive a notice from the court for your "Meeting of Creditors," or your "341 hearing" within 30 days of signing your petition.  Your creditors will also receive this notice, and should stop attempting to collect outstanding debt.
• You'll need to complete the second round of credit counseling before your scheduled court date.  When completed, please notify our office, so that we can file your certification of completion with the court.
• At your court hearing, you'll need to bring a picture ID and proof of your Social Security number with you. The Trustee will ask you questions about the information contained in your petition -- it's the Trustee's job to confirm that all the information listed in your petition is fair and truthful.  We will provide you a list of the questions that most Trustees ask in advance, so you will be familar with what is going to be asked of you.  This hearing usually only takes about ten minutes, although you may be there longer waiting your turn.  Creditors may also go to this meeting to ask questions of the debtor, but it is rare for creditors to show up.
• Approximately 60 days after your court date, you should receive a Notice of Discharge which forgives your dischargeable debts forever.  This concludes your case.

While fees for each case can vary, we try to work out reasonable payment plans that include the bankruptcy court filing fees, triple credit reports, homestead deed filing fees and your credit counseling and debtor education fees.  When asking about fees with other law firms, make sure to know exactly what those quotes cover and what fees may be hidden!

If you think that bankruptcy is an option for you, these and other complexities dictate your first step should be to contact a bankruptcy attorney. Contact a Chapter 7 bankruptcy lawyer at Giles & Lambert, P.C. for a free consultation at one of the numbers listed below.

CALL (540) 981-9000 NOW TO FIND OUT IF WE CAN HELP YOU!