The San Bernardino Chapter 7 Timeline  

Most San Bernardino Chapter 7 bankruptcies follow a predictable timeline from start to finish, which can be both helpful and comforting to those who are currently in the process of filing for Chapter 7 bankruptcy. By knowing what to expect, you can be better prepared for each step as it arises. Our San Bernardino County Bankruptcy Firm has years of experience representing clients throughout San Bernardino County when it comes to Chapter 7 bankruptcy filings. We understand that it is important to keep our clients informed so that they can be fully ready for each step, and take full advantage of the benefits of filing for a San Bernardino bankruptcy from start to finish. The following timeline outlines a typical Chapter 7 filing.

1.       Before filing – take an approved financial counseling course. This should be taken within 180 days of filing your initial bankruptcy proceedings. If you need to file an emergency proceeding, you still must take the financial counseling course within

2.       File your bankruptcy petition – if you have hired an experienced San Bernardino County Bankruptcy Attorney, you will be given documentation to complete that will provide your attorney with the necessary information to file your case on your behalf. Otherwise, you will have to fill out the forms yourself, which can prove substantial in number.

3.       Your case will be evaluated to ensure you qualify. If you qualify for Chapter 7, the automatic stay goes into effect, and you will have instant protection against any further collection activities. The court appoints a trustee to oversee your case and to take control of the bankruptcy estate.

4.       Attend the Meeting of Creditors. You will need to attend a meeting of your creditors, during which the trustee will ask you about your debts and assets and information about your case in general. For most, this will be a swift meeting as most creditors do not bother to attend. You may reaffirm certain debts if you choose to do so – these will survive the bankruptcy and you will be liable for them, even if your bankruptcy is discharged.

5.       Asset Liquidation and Disbursement. Your trustee will disburse any property or items that are not exempt and which may be sold at a profit in order to satisfy your priority debts. Any items you have that are not profitable for the trustee to sell may be abandoned to the estate, which means you will get to keep them.

6.       Bankruptcy Discharge. Once your creditors have been paid by the trustee to the extent that your estate is able to do so, your bankruptcy will be discharged, and your current debts will be discharged as well – leaving you with little to no financial obligations in many instances.

If you have special circumstances, your case may vary slightly from what is listed here. Regardless, our team of expert San Bernardino County Bankruptcy Attorneys can help you to be fully prepared for your Chapter 7 bankruptcy case. Contact us today and schedule a free case evaluation right away. The sooner you act, the more we can help you, and the more likely it is that your case will be simple and straightforward from start to finish.