Florida Bankruptcy Process

Step 1: Schedule a Bankruptcy Consultation 

Bankruptcy is a difficult decision. Having an experienced bankruptcy attorney on your side will help determine the best course for your situation.  During the initial consultation, we will listen to your current situation and what you hope to achieve with bankruptcy.  We will explain how bankruptcy works and discuss the legal course of action best suited for your needs. 

 Step 2: Retain a Bankruptcy Attorney 

Upon retaining the firm, The Bankruptcy Team will send out notices of representation to all of your creditors, which triggers creditor harassment laws that prohibit your creditors from communicating with you from that moment on.  The idea is to give you a hassle-free environment as we compile all of the necessary information to prepare and file your bankruptcy case.   guide you through the process of filing the bankruptcy petition.  We will also walk you through all of the paperwork necessary to prepare your bankruptcy forms, which will include, but is not limited to, a Workbook, which is essentially your list of assets, creditors, and expenses, as well as your last 2 years tax returns and last 6 months of pay stubs.  

Step 3: Credit Counseling & Final Signing 

Once we have received all of the necessary information to prepare your bankruptcy forms, we will instruct you to take the Credit Counseling Course, which is the first of two online courses all debtors are required to complete.  Then we will conduct your Final Signing Appointment, where we will review all of the bankruptcy forms together, make any last minute edits, and then sign and file the forms with the Court.  Once filed, the court will implement and automatic stay, which stops all collection actions against you immediately, including foreclosures or garnishment of wages.  

Step 4: Meeting with Creditors 

Approximately one month after filing, the Meeting of Creditors is held, which you are required to attend along with a photo ID and proof of social security number (e.g., Social Security Card of W-2 tax form).  The meeting typically only lasts 5-10 minutes during which the Trustee will ask you questions under oath regarding your financial affairs.  In Chapter 7 cases where there are non-exempt assets, the buy-back or surrender of assets will take place shortly after this meeting.  After this meeting in Chapter 13 Cases, we begin the confirmation process, which requires resolving any potential issues with the Trustee and coming to an agreement on the Chapter 13 monthly payment.  

 Step 5: Debtor’s Right to Discharge 

In Chapter 7 cases, Trustees and creditors have 60 days after the Meeting of Creditors to object to the debtor’s right to a discharge, which rarely happens in most cases.  After the 60-day deadline, you will receive your Discharge in the mail, which signifies that you successfully completed the bankruptcy process and have discharged your debts.  In Chapter 13 cases, the discharge is granted after all payments under the Chapter 13 plan have been submitted to the trustee.