The Bankruptcy Process
At your initial consultation with Grantham Law, you will be asked a series of financial questions that will allow us to determine if you are a good candidate for Bankruptcy. We will conduct a "means test" to determine if you should file a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Your initial consultation with us will typically last about 15-20 minutes and can be done over the telephone.
After hiring Grantham Law to represent you, we will begin collecting information from you to prepare your bankruptcy petition. You will provide us with copies of paychecks, bank statements and tax returns and will fill out a detailed questionnaire where you will list your assets, debts, income and expenses. Using this information, your bankruptcy lawyer will prepare your "draft" petition and send it to you to review and make corrections; at that time, you will be instructed to take a mandatory credit-counseling course, either Online, or over the telephone.
After you make your corrections and return the corrected draft petition to your attorney, your bankruptcy attorney will schedule a time for you to come to our office where you will review and sign the final bankruptcy petition that will be filed with the Court. Once signed, your attorney will file your petition with the Bankruptcy Court and the court will assign your case to a "Trustee" and set up what is known as a meeting of creditors. Once your case is filed, your creditors are required to stop all collection activities (including foreclosure proceedings).
The meeting of creditors is an interview that is conducted by the Trustee who is assigned to your case. We will be with you at this meeting. You will be sworn in by the Trustee, and he will ask you a few questions about your bankruptcy petition. In most cases, the meeting will last only a couple of minutes and this is the only hearing you will have to attend. After the hearing, you will be required to complete a debt management course before you will receive your bankruptcy discharge about three months after your meeting of creditors.