Bankruptcy is not something you should be afraid of, since it is often the only way for a person deep in debt to get a second chance. It’s a very complex process however, so you should never enter into it without a good bankruptcy Attorney by your side. Someone that can help you meet your deadlines and clear up any questions you may have.
Even if you have the help of an experienced attorney, it is a good idea to have a working knowledge of the Bankruptcy Timeline before getting started.
What is the timeline when you file bankruptcy in GA?
- The petition – Everything begins with the submission of your petition. Since the filing requirements are rigorous and the document is complicated, this is best left up to your Conyers GA bankruptcy Attorney
- Automatic stay – Immediately after your petition is filed an Automatic Stay is put into place by federal law. It prevents your creditors from most forms of debt collection while you work through the Georgia Bankruptcy process
- Notice of filing – Within a month of your filing the Bankruptcy Court will send out a Notice of Filing as well as a Notice of Stay to your creditors. This keeps the creditors from contacting you. Instead they will have to use your attorney as an intermediary.
- Creditor meeting – Usually around five weeks after the process has started, you will have to meet with your creditors. The meeting is supervised by a trustee assigned to your case. Both sides are able to ask questions
- Adversary proceeding – If a creditor challenges your petition they have a certain amount of time to prove why your debt to them should not be discharged.
- The notice of discharge for Chapter 7 – If there was no challenge then you should receive this notice within six week and your bankruptcy is over. OR,
- The notice of confirmation for Chapter 13 – At this point you and your attorney will have come up with a payment schedule and once you receive this confirmation, payments will begin for 3-5 years.
This general guideline can help you to better understand all of the different stages of filing for bankruptcy in Georgia. C. Golden & Associates has a dedicated team of attorneys ready to help you to get out of debt. Call today to schedule your free bankruptcy consultation!