Steps of Filing For Bankruptcy

Written By: Emil FleysherNovember 12, 2021

There’s a lot to consider if you find yourself in a situation where filing for bankruptcy might be an option. Your questions, stress levels, and worry will overwhelm you. You need to evaluate all your options to understand what bankruptcy will and won’t do for you while also preparing for the consequences. Should you decide to do it, you might have some questions about how bankruptcy works and the steps you need to take.

Many are aware of the protection of bankruptcy is, there is still plenty of confusion on how it works. Learn the steps to getting started and when you need an attorney.

Should I File Chapter 7 or Chapter 13?

There are two basic types of bankruptcy for individuals. Chapter 7 allows for the trustee to take any property you own, given that it isn’t exempt under the state or federal exemption list available to you. Exemptions are what help you keep your house, vehicle, pension, retirement funds, belongings, and more.

The usual bankruptcy exemptions include equity, clothing, tools, and more of your belongings. A bankruptcy attorney can help determine if any of your debts can be discharged when you file for bankruptcy.

Chapter 13 bankruptcy doesn’t require you to give up your property. You will be required to enter into a repayment plan that ranges between three and five years. A repayment plan can assist you in paying back all or at least some of your debts.

A bankruptcy attorney will be able to guide you in either filing Chapter 7 or Chapter 13. Our experienced attorney will explain the pros and cons of filing one chapter over the other. 

What are The Steps For Filing Bankruptcy?

In fact, filing for bankruptcy has the potential to provide immediate debt relief through an automatic stay. This type of law forbids creditors from contacting you the moment you file for bankruptcy. Wage garnishments are also stopped immediately.

Just about anyone can file Chapter 7 bankruptcy, which is why we have provided the steps necessary when filing:

  • Collect all of your documents
  • Take credit counseling courses
  • Complete all the required bankruptcy forms
  • Obtain the money to satisfy the filing fee
  • Print bankruptcy forms
  • Go to the local bankruptcy court to file
  • Mail documents to the trustee in charge of the bankruptcy
  • Take a bankruptcy course
  • Attend the 341 meeting
  • Deal with loans

It is essential to know that not all debts are discharged, and the debtor is still held responsible for repaying those debts after bankruptcy. In fact, our team at the Law Offices of Emil Fleysher can discuss more in-depth certain restrictions related to discharges. We will provide you with the most accurate information.

Schedule a Free Consultation With The Law Offices of Emil Fleysher, P.A. Today

We know filing for bankruptcy isn’t exactly the route you planned to take in your life. Therefore, allow us to alleviate all the stress and answer the questions you might have regarding bankruptcy. Emil Fleysher, P.A. proudly serves clients throughout South Florida who are considering filing for bankruptcy. Call our office at 888-886-0020, or send an email to with your contact information, concerns, or questions.

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