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Filing for bankruptcy in Raleigh, NC is generally a last-resort option for those with insurmountable debt. Many people feel like bankruptcy is an admission of failure, but the truth is that it is a powerful tool for debtors to get their financial life back on track.
For most debtors, deciding to file for bankruptcy is the most difficult part of the process. It gets easier once the procedure has been set in motion by a bankruptcy attorney. Petitioners are advised to familiarize themselves with what to expect upon filing for bankruptcy to streamline the process.
What Happens Upon Filing for Bankruptcy
Debtors must listen carefully when their bankruptcy lawyer in Raleigh, NC explains the process in detail. Once they have filed for bankruptcy, debtors can generally expect to:
- Get a case number
Petitioners will receive a bankruptcy case number immediately after filing for bankruptcy. They must keep track of it and save it somewhere accessible, as they will be asked for it for any future documents connected to their filing.
- Have a trustee assigned to their case
Soon after filing for bankruptcy, petitioners can expect their case to be assigned to a court-appointed official known as a trustee. Once they know who their trustee is, they must anticipate mail from them.
The trustee will send the petitioner a letter, which notes the need for financial documents, such as bank statements, pay stubs, and tax returns. The petitioner must mail these documents before the specified deadline; otherwise, their case may be dismissed.
- Receive protection from their creditors
For many people, harassment from debt collectors is much stressful than the debt itself. The automatic stay is designed to stop this harassment.
Once debtors file for bankruptcy in Raleigh, NC, their creditors can no longer sue, call, contact, or take any other action against them in an attempt to collect their debt. It will also stop any wage garnishment from before filing.
Debtors who filed for bankruptcy only need to show persistent creditors their bankruptcy case number to stop the harassment. If creditors continue contact after that, debtors are advised to let their bankruptcy attorney handle the issue.
- Undergo the debtor education course
Everyone who files for Chapter 7 or Chapter 13 is required to complete a personal financial management course. Failure to complete the course will keep the debtors from getting a bankruptcy discharge.
The goal of the course is to educate filers on how to make wiser financial choices after debt relief. Topics include:
- Money management
- Budget preparation
- Consumer protection agencies and laws
- Dealing with unexpected financial issues
- Smart and effective use of credit
Bankruptcy lawyers in Raleigh, NC always inform their clients when to take the course, but it is typically as soon as possible after filing.
Get Freedom from Bankruptcy Today
The burden of enormous debt can seem impossible to get out of, but that is what bankruptcy laws are for. It is designed to get good people out of debt to get a new lease on life. Our bankruptcy attorneys will be right by your side to simplify the process and make sure every detail is done right.
Call Weik Law Office today at 918-845-7721 for a free consultation, and set up a time to speak with one of our professionals.