Legal Procedings & Chapter 7 Bankruptcy
After you have completed all of the necessary paperwork associated with Chapter 7 Bankruptcy, your attorney will prepare the legal documents and notify your creditors. He or she will then prepare the court documents that you will be asked to read and sign. Once your petition is filed, you are immediately protected under the Automatic Stay. You will no longer receive harassing calls from your creditors, your paycheck cannot be garnished, your real estate cannot be foreclosed and your vehicle cannot be repossessed. About 45 days later, you will be notified of a creditors meeting that you will be expected to attend. During this time, you are fully protected by the court. The final discharge will be completed in approximately 3 to 4 months.
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