If you’re struggling to manage debts you can't repay, filing for Chapter 7 bankruptcy can be an excellent way to reclaim your life and start again. While the bankruptcy code is often extremely complex, Honolulu’s Greg Dunn, Bankruptcy Attorney knows it doesn't have to be intimidating. To demystify this often-misunderstood area of the law, he would like to explain the Chapter 7 bankruptcy process.

Filing for Chapter 7 bankruptcy involves several steps, starting with:

• Credit Counseling: Most states require anyone filing for bankruptcy to receive credit counseling no more than six months before filing their petition.
• Filing The Petition: The case officially opens when you file the bankruptcy petition, schedule, and other forms. Your bankruptcy attorney will make sure your forms are filled out correctly and include all your eligible debt.
• Automatic Stay: As soon as you file, the automatic stay goes into effect, which prohibits all collection actions on the part of your creditors.
• The Meeting Of Creditors: You'll have to meet with a trustee, who will ask you questions about your finances and case.
• Property Distribution: The trustee will examine your assets, determine which are not exempt, and decide whether they're worth selling to pay back your creditors.
• Financial Management Course: Once you've completed your obligations, including financial education courses, your unsecured debts will be completely discharged. You'll have the option to continue paying on secured debts, surrender the property, or reaffirm the debt.

For over 25 years, Greg Dunn, Bankruptcy Attorney has been helping Honolulu-area residents get their lives back. He has the experience and expertise to help you get the debt relief you need, whether you're filing for Chapter 7 bankruptcy or would just like to negotiate a loan modification. Visit his website to learn more about how he can help you or schedule a consultation by calling (808) 524-4529 today.