Typically, the Chapter 7 filing process goes as follows:
- During the pre-filing phase of the Chapter 7 bankruptcy process, your information is being reviewed and verified in our office. It’s not unusual to receive a phone call (or two) from our bankruptcy department confirming documentation and setting you up with an appointment to come in for your “signing appointment.” Your signing appointment is an opportunity for us to go over your bankruptcy petition, schedules, and other documentation, as well as answer any last-minute questions before your case is electronically filed with the bankruptcy court.
- After your signing appointment, you will be contacted by our post-filing department. The post-filing department guides you through the rest of your Chapter 7 bankruptcy case. The post-filing department will also notify you of something called a 341 hearing, or the “meeting of creditors.” The meeting of creditors is usually scheduled four to six weeks after your case is filed with our office. Our office will give you notice of your 341 hearing in advance. On the day of your hearing, one of our Florida Chapter 7 bankruptcy attorneys will be there to represent you in front of the bankruptcy trustee. During this hearing, the trustee will be verifying that all of the documentation you have submitted is true and correct and may have a few other questions in between. The good news: most of the time, this meeting only lasts approximately five minutes!
After your 341 meeting, you are on the road to your case being discharged. You can expect your case to be discharged four to five months after the date of your filing. What’s next? You guessed it... rebuilding your credit!
What Does This Mean for My Credit?
It’s fair to believe that filing for bankruptcy will ruin your credit but the truth is you can start rebuilding your credit from the moment your Chapter 7 bankruptcy case is discharged.
After filing for bankruptcy, it's important that you review your credit report to see if there are any errors. It's no secret that bankruptcy will have a negative effect on your credit report, but it's important to make sure there are no additional errors that could make things worse. Additionally, after your case is discharged don't be afraid to get a secured credit card. A secured credit card is more like a debit card as opposed to a regular credit card. With a secured credit card, you'll deposit money into an account, and the amount that you deposit will be your credit limit. By charging small amounts each month and paying as you go, you can gradually work to rebuild your credit.
Some debts, such as student loans, are not dischargeable in bankruptcy. If some of your debts weren't discharged, it's important that you stay current on your bills. Paying bills on time will reflect favorably on your credit report and help you avoid late fees.
If you are thinking about the Chapter 7 process and have an overwhelming amount of credit card debt, medical bills, a debt collector lawsuit, garnishment, repossession, or have a culmination of all of these issues, then we have just one question: What do you have to lose by coming and seeing us?
“Looking back, I cannot imagine trying to find my way through the
Chapter 7 maze without the experienced staff at the Dellutri Law Group.
During my initial and free consultation, I was told that I didn't really
need to file for bankruptcy if I could handle the creditor calls. But,
since I had always paid my bills on time, I felt uncomfortable just ignoring
creditors. The total I paid for filing fees and legal fees to Dellutri
was less than two months of my credit card payments. As soon as I filed
for bankruptcy, all calls from creditors stopped. Dellutri staffers told
me exactly which documents they required and which the Trustee would need.
I had to complete two on-line financial planning courses, which were helpful.
Each step was methodical and prepared me for the 341 meeting with Mr.
Dellutri and the Trustee. No creditors attended and I just received notice
that the Trustee has completed his work. Some people believe there is
a stigma attached to filing for bankruptcy. Although that may have been
true in the past, it isn't now. My only income is Social Security and,
try as I might, I could never have made more than the minimum payments
on my credit cards. Filing Chapter 7 has given me a new found freedom,
lessened my anxiety, and allows me to live within my income. What a gift.
No one at the Dellutri Law Group ever made me feel guilty or was anything
but professional and helpful. In the future, any creditors who contact
me to attempt to collect on their debt discharged by my bankruptcy, will
be sued by Dellutri. I highly recommend this law firm if you are considering
Chapter 7 or 13 bankruptcy.”
- A.W. (Google- September 25, 2018)