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The Bankruptcy Chapter 7 Process in South Metro Denver

Filing for chapter 7 bankruptcy is a necessary step to eliminate debt for many South Metro Denver residents. The chapter 7 bankruptcy process can seem intimidating and complicated. Benham Law, Inc. is here to guide you through the process from beginning to end.  We understand each step and are here to get you through the bankruptcy process as quickly and painlessly as possible.  Although the bankruptcy process is very detailed, our bankruptcy lawyers have compiled a general step by step overview of the bankruptcy process. Read on to learn more about the Chapter 7 bankruptcy process.

Step One: Obtain a Credit Counseling Certificate

Once you decide to file chapter 7 bankruptcy, you will need to complete a course in credit counseling. The course is mandatory, and the certificate must be filed at the time the bankruptcy is filed. The attorneys at Benham Law, Inc can provide you with a list of United States Trustee's Office-approved credit counseling agencies. This course can be completed online or over the phone.

Step Two: Complete and File All Required Forms with the US Bankruptcy Court

In order to file your bankruptcy, you must complete a detailed packet of forms and file these with the court. These forms include your bankruptcy petition, schedules of financial information, income and expenses, assets and liabilities, exemptions and much more. The forms are voluminous and include very detailed information. The attorneys at Benham Law, Inc. will work with you to complete all forms required by the court.

Step Three: Trustee Appointed to Administer your case

Once the court receives your paperwork, a trustee is appointed to administer your case. He/she works in the interest of your creditors by reviewing your case, and collecting and distributing certain assets to creditors. The Trustee conducts the 341 meeting of creditors. This meeting occurs approximately one month after your case is filed. Your attorney at Benham Law, Inc will attend the meeting with you and walk you through the entire court process.

Step Four: Trustee collects and distributes non exempt assets

The Trustee decides whether there are any non exempt assets to collect from you. Examples of such assets include firearms, season tickets, luxury items, tax refunds and many others. Such assets are liquidated and used to pay your creditors. You must cooperate with the Trustee in the turnover of such assets. If there are not any assets to administer, the trustee will finish their work by filing a no asset report.

Step Five: Take a Financial Management Course

Before you can receive your final discharge, you must take a final financial management course. This course can be done online. The attorneys at Benham Law, Inc. can provide you a list of providers for this course. The final certificate of completion must be filed with the court before your discharge will enter.

Step Six: Receive Final Discharge from the Court

Once you have fully cooperated with the Trustee and all required steps have been completed, the Court will issue your final discharge. This typically occurs three to six months after your case is filed.

Contact Benham Law, Inc. Today to Get Started

Benham Law, Inc. is here for our clients every step of the way. Given how complex and detailed the chapter 7 bankruptcy process is, it pays to have legal representation to help you complete all the requirements.  From the initial decision to file, to completing all paperwork, to attending court appearances, we are here to assist you through the process.  You deserve to move on with your life free from debt. Contact our chapter 7 bankruptcy lawyer today for a consultation.