As a Sacramento bankruptcy attorney serving the Fair Oaks community, I’m often asked questions like:

• What really happens when I file for chapter 7?
• What do I have to do?
• How many times do I have to go to court?

Here is a rough overview of what happens during the average chapter 7 bankruptcy. Of course, there are many exceptions and aspects that can really complicate things, but for the most part, it’s a pretty straightforward process.

Consumer credit counseling course

The first thing you will have to do is go to the mandatory consumer credit counseling course and get a certificate that you’ve completed it. In this course, they will go through a series of questions to determine, if you can get on a debt re-payment plan outside of bankruptcy and to avoid having a bankruptcy on your credit report.

Bankruptcy petition

Assuming that you didn’t find any other options during the consumer credit counseling course, you have to prepare and file a bankruptcy petition. This petition has to include a list of all your assets and debts, your income, living expenses, a means test calculation and a statement of your intentions.

Once you file this petition, the automatic stay comes into place. I’ve written a separate article about the automatic stay and its benefits for you and I invite you to read it.

The automatic stay will be in place for the entire duration of your bankruptcy process.

To be continued in my next post.

Please contact our Sacramento office at 916-313-9069 or via email at info@california-bankruptcyattorney.com for a free consultation.