Find out more about what the bankruptcy process involves.
You have decided to file bankruptcy to find relief from excessive debt. At this point, you want to know what happens next, so you can begin to move forward financially. Generally speaking, this is what the bankruptcy process entails:
- Find an attorney—It is important to find an attorney in the Cornelius, North Carolina area who can help you with the bankruptcy process from beginning to end.
- Participate in a bankruptcy counseling session—When you participate in bankruptcy counseling, the counseling agency you sign up with will provide more information about the pros and cons of filing bankruptcy.
- File for bankruptcy with the court—Once you complete pre-bankruptcy counseling, you can officially file with the court system.
- Proceed with the liquidation process—Depending on whether you file Chapter 7 or Chapter 13 bankruptcy, some of your assets may be liquidated to resolve some of your debts.
- Complete debtor education—After you file, you must complete debtor education to learn about how to manage your finances after you finish filing.
- Debt discharge—The final step occurs when your debts are discharged. This part of the process removes any obligation to your creditors to repay your qualifying debts.
At Piervincenti & Tarantino Law, PLLC, we can provide all the information you need about filing bankruptcy and the bankruptcy process. Contact us today to learn more about filing bankruptcy and if this option is right for you.