Escondido Bankruptcy Help

Steps for Filing Bankruptcy

If you are suffering from financial difficulties, your first step is to determine if you need to file bankruptcy. Seeking bankruptcy advice from Escondido bankruptcy lawyer Marc A. Duxbury, Attorney at Law is a constructive way to obtain the help you need to face tough decisions.

Step 1: Seek Professional Help

The most important measure you can take is seeking out accomplished bankruptcy advice in Escondido. An experienced attorney will be able to help you with the most difficult aspects of bankruptcy: legal issues and proceedings. Having someone who can explain the complicated legal questions surrounding your bankruptcy, and who can advise you as to the best time to declare bankruptcy is essential. Marc Duxbury has the knowledge and skills to help you.

Step 2: Filing Bankruptcy

Filing bankruptcy in Temecula involves numerous state and federal laws which can consist of 40-80 pages of paperwork depending on your situation. For most people, this is the most daunting and overwhelming part of bankruptcy.

  • You need to compile the following:
  • Current income
  • Tax information
  • Assets and debts (with all creditors contact information)

If the paperwork is filed incorrectly, it may have to be filled out again. You should seek bankruptcy advice in Escondido to ensure that all of your information is filed correctly, and in a timely manner.

Step 3: Contacting Creditors

After approximately one week of filing paperwork, you will receive a notice and a Certificate of Intentions from the court stating if you are eligible for filing. Depending on whether you are filing for Chapter 13 or Chapter 7, you will be appointed a trustee or you may have to contact creditors yourself.

Under Chapter 13, the appointed trustee helps gather the necessary information so you can repay the creditors. Under Chapter 7, you may need to contact the creditors yourself using your Certificate of Intentions and notice from the court to confirm your bankruptcy status. At this point, the determination will be made as to whether or not your secure debts will need to be repossessed to pay your debts.

Step 4: Creditor’s Court Meeting

Here you will attend a meeting with your trustee and possibly the creditors. Creditors can attempt to plea their case for repayment or repossession of property. If the creditors are not seeking to repossess your property, they may not attend at all, and you may wind up going over repayment strategies with your trustee.

Step 5: Discharge Meeting

After you have received an approved Certificate in the discharge meeting, you will receive discharge paperwork from the courts. If you are filing under Chapter 7, this could take three to six months. Under Chapter 13, the paperwork will arrive after the completion of the repayment plan. Many courts may require you to attend a pre-discharge meeting in order to go over your future in relation to bankruptcy, including credit scores and how you avoid financial trouble again.

Free consultation

If you are thinking about declaring bankruptcy, contact Marc A. Duxbury, Attorney at Law for a free consultation at: (760) 438-5291 or toll free at (877) 817-7373.