What Will Happen After You File for Bankruptcy?

bankruptcy notice
discharge document
How soon do I get a bankruptcy Discharge Notice?

So the natural question you will ask yourself after you file for bankruptcy is now what? This post is to assure you that asking what will happen after you file for bankruptcy is a common and necessary question. Once you have signed your paperwork your attorney will file your case. Your case will predictably continue on a defined path for some time. For instance, you can expect to do the following:

You will be asked turn over financial documents to the bankruptcy trustee;

You will be required appear at the a meeting of creditors that all filers attend;

You will need to take a debtor’s education course and file the certificate of completion with the court and;

You will then wait a period of time set by statute to receive the bankruptcy discharge.

Once you get your case filed, be it Chapter 7 or Chapter 13, most people feel a great sense of relief, in fact I am often told by client that hey can now actually enjoy a good nights sleep after filing bankruptcy. If everything goes as planned (and it usually does), you’ll get a discharge in about 90-120 days after the case is filed. This discharge order states that you no longer have to pay qualifying debts that get wiped out in bankruptcy. Lenders won’t be able to pursue you on the discharged debt.

I suggest that you have a number of questions ready when you meet with your attorney to file your case. This meeting is a great time to learn what your future will look like. At this appointment I take time to discuss what my clients post bankruptcy life will be like and what a strategy for moving forward looks like. As many of you know I have written a book on Life After Bankruptcy and from my perspective this is what you need to know to not only survive after bankruptcy but to thrive after bankruptcy. I would have prepared at least a few questions to talk to my attorney about. Here are three to get you thinking about what to ask:

Questions for Your Attorney

Are there any debts I should continue to pay until I file for bankruptcy?

What debts if any will survive my bankruptcy?

How soon after filing for bankruptcy can I start to get new credit?

Hopefully these questions will get you thinking about other questions to ask as you get ready to file your case. If you are in Utah and would like to discuss your options give my office a call for a consultation today!

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