San Bernardino Chapter 13 Bankruptcy Timeline

While every San Bernardino Chapter 13 bankruptcy is unique, there are set procedures that must be followed during the course of a Chapter 13 bankruptcy case. Unless there are special circumstances, or some other unforeseen complication, most Chapter 13 bankruptcies follow the following procedure:

1.       Before the Chapter 13 is filed: You must take an approved credit counseling course and get proof of your successful completion of the course. Additionally, you must work out a budget to submit to the court at the time of filing. Your San Bernardino County bankruptcy attorney may be able to help you find a credit counseling service that will help with both of these prequalifying conditions.

2.       Filing for Chapter 13: You will need to file several forms in order to start your bankruptcy hearing. These forms include information about your liabilities, assets, properties, and other financial information. If you have hired a reputable San Bernardino County Bankruptcy Attorney to help you, many of these forms will be completed for you, although you will need to supply the necessary information.

3.       You will need to submit a repayment plan: The repayment plan must cover a 3-5 year period, and it must satisfy certain conditions in order to be approved by the court. In general, you must pay off all priority debts under the plan, and make satisfactory arrangements for secured and unsecured debts as part of the plan. You must commit all of your discretionary income, minus a few exceptions, to the repayment of your debts over the life of the plan.

4.       Meeting of Creditors: The bankruptcy trustee will call a meeting of creditors. While creditors do not often attend these meetings, some may show up in order to question you about your current financial situation.  Additionally, the San Bernardino bankruptcy trustee will advise you of certain issues with regards to the San Bernardino bankruptcy, and will ask questions to find out more about your financial situation as well.

You will be required to make payments as indicated on your repayment plan within 30 days of its submission to the court, even if your case is ongoing. While you are making payments, creditors cannot initiate any collection activities, and you will be able to pay off what you owe without interest accruing in many instances. However, in the case of your mortgage, you may still be subject to a San Bernardino foreclosure if you fail to make payments that become due after you have filed for bankruptcy.

Because Chapter 13 bankruptcies are very involved and require years to complete satisfactorily, you will need the advice and representation of a skilled San Bernardino County Bankruptcy Lawyer. Our firm has worked with clients throughout the county and helped them to attain their financial freedom. We can help you as well. Contact us today and schedule your free initial San Bernardino Bankruptcy case evaluation – let our premier San Bernardino County Bankruptcy Law Firm help you to obtain freedom from debt while retaining your assets at the same time.