Bankruptcy Court is a Federal Court. To "file Bankruptcy" I help you
fill out about 30 pages of forms and "file" them with the Court. By filing a case, you are automatically given Bankruptcy
Court "protection". It is this protection that gets your creditors off your back.
Bankruptcy has Chapters 7, 11, 13 and others.
At the end you get a Bankruptcy "Dischage" which wipes away all of your
old debts.
You get a fresh start. You have a chance to get on with your life
free from debt.
It is a procedure protected in the US Constitution. (Congress
shall have the power to establish uniform Laws on the subject of Bankruptcies throughout the United States.
Art. 1 Sec. 8)
I help you understand and use the law to your advantage.
Bankruptcy is complex to explain, but in general:
You take a class called Credit Counseling.
I help you prepare and file a "Petition" with the Bankruptcy
Court that lists everyone you owe. It also lists everything you own.
Another paper tells the Court what your income was for the previous
year. If you pass this "Means Test" you can file a Chapter 7 case.
You have a hearing before a Bankruptcy Trustee and testify to your situation
and affirm the papers are true and correct.
The trustee decides if you must give him any of your assets or property
to distribute to your creditors.
You get a "Discharge" of the debts you owed on the day you filed the case
in Bankruptcy Court.
Creditors cannot collect the discharged debts after they learn that
you have filed for Bankruptcy protection. They must stop contacting you.
