When considering bankruptcy under the bankruptcy rules, one of the factors to evaluate is how long it will take you to pay off your current debt including interest. Many credit card companies raise your interest rates to 30% when you even a couple days late. By filing bankruptcy, the bankruptcy rules will give you protection from your creditors almost immediately, alleviate your debt, and allow you to move forward with a fresh start. Our Riverside bankruptcy law firm handles bankruptcies of all sizes, from very large to very small.
Under the Federal bankruptcy rules, Chapter 7 bankruptcy takes approximately four months. The bankruptcy rules require you to attend a meeting 30-45 days after your initial bankruptcy forms are filed. This is probably the only personal appearance you will have to make. The appearance is made in front of a bankruptcy trustee as opposed to in bankruptcy court in front of a judge. The meeting typically takes about 10 minutes. Our attorneys understand the bankruptcy rules and can prepare you for the meeting and accompany you to the meeting.
Generally, 3 to 4 months after the meeting you will receive your discharge papers from the bankruptcy court. The discharge papers are your proof that the debt has been eliminated under the bankruptcy rules and all the debts are gone.
Contact our Riverside bankruptcy lawyer today to get a free evaluation and to get an explanation of your options under the bankruptcy rules.
