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How Does the Chapter 7 Bankruptcy Process Work?

WHAT'S THE PROCESS TO FILE CHAPTER 7 BANKRUPTCY IN CONNECTICUT?

The process to file Chapter 7 bankruptcy is relatively straightforward and goes something like this:

  1. Determine if you qualify for Chapter 7 bankruptcy.
  2. Put together all your financial documents.
  3. Complete a credit counseling course.
  4. Complete bankruptcy forms.
  5. File the bankruptcy documents.
  6. Complete a financial-management course.
  7. Prepare for the 341, also known as the creditor's meeting.
  8. Attend a creditor's meeting.
  9. Your discharge is entered by the court – typically 4 months after the case was filed.
  10. The bankruptcy trustee determines if you have assets to liquidate or not, and if you do, the assets are liquidated and the funds are provided to the creditors. 
  11. Trustee files a final report with the court.
  12. The case is closed.

Again, this is a summary of what happens during a Chapter 7 bankruptcy, but each case is different and how it plays out will reflect those differences.

CONTACT AN EXPERIENCED, AFFORDABLE AND COMPASSIONATE CHAPTER 7 BANKRUPTCY ATTORNEY IN CONNECTICUT  TODAY

Filing for bankruptcy is a serious matter. It is a hard decision for anyone to make, but if made correctly and if undertaken with care, the end result can be freeing. You will be able to start afresh. If you have questions or want to make sure you file your Chapter 7 bankruptcy timely and properly, contact the Law Offices of James F. Aspell, P.C. today at 860-500-1414.

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