Covid-19 has severely impacted the United States economy. An economic recession caused by the worldwide public health crisis is underway. With this downturn individuals are contemplating now more than ever filing bankruptcy and seeking financial relief. Call us today and set up your free phone consultation to see if filing a Chapter 7 bankruptcy can provide you with relief during these difficult times.

Overview of the Chapter 7 Bankruptcy Process

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Overview of the Chapter 7 Bankruptcy Process

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Melbourne Chapter 7 Bankruptcy Attorney


Before you can even file Chapter 7 bankruptcy, you must establish whether you qualify. Chapter 7 bankruptcy has a strict means test that limits this form of relief to those that fall below a certain income threshold.

You would begin the Chapter 7 process by filing the bankruptcy forms with the court. Immediately, your property comes under the control of a trustee as part of the bankruptcy estate.

After filing, you would receive notice of a meeting of creditors, which is held roughly a month or two after you file. Before this meeting, you must turn over a set of documents that include:

  • bank statements
  • Income information
  • tax returns
  • other financial documents

At the creditors meeting, the trustee will ask you certain questions about your bankruptcy filing and the information that you provided. You will answer them under oath. Usually, this is a quick meeting, and it is the only type of hearing that you will have.

At this point, the bankruptcy may sell your property to satisfy debts, but only the property that is not exempt from Chapter 8 bankruptcy. Chances are that you have very little property that would be sold. The trustee may not even sell non-exempt property if it makes little economic difference.

The entire process takes about four months unless the trustee needs more time or the court has issues with your filing. At the conclusion of the Chapter 7 process, you would get the debt discharge that gives you the fresh start that you need.

Call a Melbourne Chapter 7 Bankruptcy Attorney

The Harnage Law Firm can help you through the entire bankruptcy law process, from helping you determine what type of bankruptcy you are eligible for, all the way through discharge. Call us today at 321.549.7886 or contact us online to discuss your situation.