There are two approaches to filing Chapter 7 Bankruptcy. These include hiring a lawyer or doing it yourself. You will quickly learn that hiring an attorney like Thomas A. Corletta Attorney at Law in Rochester, NY, will save you time and money.

If you’re considering filing for Chapter 7 Bankruptcy, regardless of which route you take, a few things need to be completed when filing. These include the following:

• Credit Counseling: This is mandatory when filing Chapter 7 Bankruptcy. The session should be performed by an authorized credit counselor and to prove completion, a certificate will be issued.
• File a Petition: A lawyer will help you tackle the mounting paperwork that needs to be completed. This petition packet consists of comprehensive details about your finances and assets owned.
• The Automatic Stay: This is one of the top benefits of filing for bankruptcy. In essence, you get a green light for ending all harassing phone calls, wage garnishments and more.
• Expect a Court-Appointed Trustee: This representative serves as a mediator between you and creditors. When your assets are liquidated, the trustee ensures that both you and your creditors are treated fairly.
• The 341 Hearing: This is a mandatory meeting with you and creditors or the trustee, where your finances and petition will be deliberated.

Once you complete these steps, the court will determine your eligibility Chapter 7 Bankruptcy. If you are eligible, the court will also decide which properties are exempt, if any. A financial management course will also be compulsory before the final discharge.

For legal advice on how to file for Chapter 7 or Chapter 13 Bankruptcy or for a complete list of services, visit Thomas A. Corletta Attorney at Law online or give the practice a call at (585) 546-5072.