Before filling for a bankruptcy case, it is advisable for one to take his/her time to understand the processes involved in a bankruptcy case. One should, with the help of a qualified Attorney Los Angeles, Woodland Hills, Encino, Tarzana, Chatsworth and the entire San Fernando Valley, review every bit of the steps involved in bankruptcy in order to qualitatively decide on what path to follow. It is my job to professionally intimate you, in very clear terms, regarding what are involved in a bankruptcy case making the experience as less stressful as it can be, and also to help you get back on the right financial track.
What You Should Know About A Bankruptcy Case
Filing for bankruptcy is one of such petitions that can take a long process – mostly about filling out the paperwork correctly, and doing what is required when it is required, and also in the right way. Basically, all that is expected to successfully set up a bankruptcy case are:
• Organization of your debts
• Establish a convenient plan in line with the law
• Declaration of bankruptcy by the debtor to the court by filing all necessary report with the court; at which point the court will proceed to discharge eligible debts
Services You Should Expect At Leventhal Law Group
At Leventhal Law Group, P.C. you are guaranteed a deep understanding of your financial situation regarding bankruptcy laws. You are not expected to pay any fee for initial consultation, which lasts for one hour; except you want to start filing for the bankruptcy process. If you officially decide that I be your lawyer, and to proceed with the bankruptcy filing, then the initial consultation is extended up to two hours. In the course of your consultation, I will make you understand the following:
• I will spell out to you all the fees you will have to pay including the paperwork you will have to do.
• Your situation will be assessed using your wages, credit/debit information, and your expenses. We will also carry out a means test to determine if it is really in your best interest to file bankruptcy. If bankruptcy really is your best option beyond all reasonable doubt, then we will continue with the following process.
• You will sign a retainer agreement (also known as a work for hire contract) which will outline the scope of the services I will be providing for you. This is a way of minimizing attorney-client misunderstandings that may arise in the course of the process of filing bankruptcy. There is also need to sign a disclosure statement – a detailed informative document about the process which you can be easily understood at a glance.
• Next, we will have to run a tri-bureau credit card report with the three most common reporting agencies (Equifax, TransUnion and Experian). This report is run for debtors that sign the retainer agreement. The debtor is at liberty to keep the credit report for record purposes.
• Once I am officially your Attorney Los Angeles, Woodland Hills, Encino, Tarzana, Chatsworth and the entire San Fernando Valley
, your creditors can no longer contact you on any issue regarding your debt. It is my professional duty as your attorney to provide you with the information you are to give to any creditor who contacts you on the debt issue. It is also my duty to provide for you, forms that you can use if they continue to violate the law by harassing you.
• You will have to enter your salary history, debts, and personal properties which were not mentioned on your credit report, into a secured online website that will be set up for you for this purpose. These online forms may be completed in my office, if you so wish, or at the convenience of your home. It can also be updated at any time.
• As your attorney, it is my duty to sign you up for a credit counselling course which you can take in-person, over the phone, or online. In the credit counselling course, there is a pre-filing class (a first step legally required before one can actually file for bankruptcy as mandated by the BAP and Customer Protection Act, 2005), and there is a post-filing class (a step the debtor must take to have his or her bankruptcy discharged), both of which must be completed as it is a basic requirement for filing Chapter 7 bankruptcy and Chapter 13 bankruptcy. At the end of this course, you will be awarded a certificate proving that you have successfully completed the course.
Time To File For Bankruptcy
After you have successfully completed all the steps above, then, it is time for your bankruptcy petition to be filed with the court. But, just before the filing process, there is need for you to visit my office for one last review meeting. The petitions will also be signed during the review meeting. For transparency purpose, you will watch while I file the paperwork electronically from my office. You will also have the date and time of the “Meeting of Creditors”, before leaving my office.
The Meeting Of Creditors
Meeting of creditor (which is otherwise known as 341(a) meeting) is run by appointed bankruptcy trustees. It holds approximately 30 days after you have filed for bankruptcy. The aim of this meeting of creditors is for the bankruptcy trustees to guarantee the accuracy of your bankruptcy papers, and also to fish out such information that may be of advantage to your unsecured creditors. You will attend this meeting with me, your Attorney Los Angeles, Woodland Hills, Encino, Tarzana, Chatsworth and the entire San Fernando Valley
or an attorney that I work very closely with. Although it is very rare, there are cases where your creditors may choose to attend.
“Your Debts Are Hereby Discharged“
This is the part where your debts are discharged – i.e. if you have come this far. Within three to four and half months, your debts will be discharged; and you will have a brand new financial life – a fresh start.Your credit card reports will have bankruptcy on them for ten years, but you have the option of rebuilding your credit with a secured credit line.
We are a debt relief agency with the sole purpose of helping people file for bankruptcy relief under the Bankruptcy Code. Call a Los Angeles-area lawyer dedicated to helping people wrap up debts and get a fresh start. E-mail the Leventhal Law Group, P.C. or call 818-347-5800.