In the event you feel that your only solution to your mounting debt problem is bankruptcy, then you will appear in court with your bankruptcy attorney in Harrisburg. In court, there are a number of things that will happen and a number of terms used, that you may not be familiar with at the time.
Who is the trustee and what does he do?
If the case is for chapter 7 bankruptcy, the court will appoint an official who is known as the trustee. This person has two primary roles to play:
* Verifies the fact that you are eligible to file for chapter 7 bankruptcy
* Confirms that the schedules which you signed under oath are accurate
The trustee is responsible for locating any assets that are not protected by an exemption, sell these assets and give the money to the creditors.
If you are filing chapter 13, the trustee is the individual who takes full responsibility for reviewing your proposed plan for repayment and making recommendations regarding the feasibility of the plan to the court, collecting the agreed monthly payments and distributing the funds to the creditors.
What happens after this?
If the case is chapter 7 there is very little else left to do. Periodically your bankruptcy attorney in Harrisburg may be contacted by the court for more information and if this does happen you must give prompt attention to any request made by the court.
Before you get final discharge, you may enter into correspondence with your bankruptcy attorney Harrisburg to reaffirm secured items such as your house and car. The lender may not request this reaffirmation, but if they do, you must act on the request quickly.
After about 60 to 90 days after the court hearing you will be notified that you are fully discharged and you are free from obligation.
If your case is chapter 13, the discharge order will not be signed until the debt repayment plan has been completed, this can take three to 5 years.
What goes on during the hearing?
In a chapter 7 case, the court appointed trustee will ask a host of questions to make sure you are actually eligible to file. The trustee will also determine if you have made full disclosure of all your assets and debts. You may be asked questions such as:
* Are you a home owner?
* Have you recently transferred any of your property to another?
* Do you have the right to sue for bodily injury?
* Is the list of your assets and liabilities correct and detailed?
* Do you have any reason to believe that you will be getting an inheritance in the near future?
The entire process usually does not take more than ten minutes after which you and your bankruptcy attorney in Harrisburg are free to go.
If you need a bankruptcy attorney in Harrisburg you are invited to contact the law offices of John M. Hyams. Attorney Hyams handles personal and business bankruptcy cases.