Colorado Springs Bankruptcy

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What happens after I file my bankruptcy case?

When you file your petition, the "automatic stay" usually takes effect immediately.  This will depend upon whether you have had more than one bankruptcy case dismissed in the year before you filed the current case. The automatic stay stops your creditors from taking actions against you or your property. The Court will issue a notice to all of your creditors telling them about the filing, its case number, the automatic stay, and the name of the trustee assigned to the case. The notice also tells your creditors the date of the Creditors Meeting, the deadline for filing objections to your discharge and whether and where to file their claims. You must appear at your Creditos Meeting or your case may be dismissed.

In a Chapter 7 case, creditors generally have 60 days from the first date set for your Creditors Meeting to object to your discharge.  If the deadline passes without any objections being filed, the Bankruptcy Court may issue the discharge order.

Some things that could prevent or delay your discharge are: reaffirmation agreements, if a hearing is required and hasn't been held, your failure to file your Certificate of completion of the Financial Management Course. If any objections to the dischargeability of your debts are filed, they will be heard by the Court, but they shouldn't stop the entry of the discharge as to your other debts. Only people can receive a discharge. Companies do not receive discharges.

If you don't have any assets with equity above the liens against them, the Trustee will prepare a "Report of No Distribution", and your case will be closed. If you have non-exempt assets, the Court will set a deadline for your Creditors to file claims and notify them of it. The Trustee will take your assets, sell them, and pay the proceeds to your creditors. When all of the the assets have been sold and payments made to the Creditors, the Trustee will file a Final Distribution Report and the Court will close your case.

In a Chapter 13 case, you file a plan.  The Trustee or your creditors may file an objection to it. If no objections are filed, the Court may confirm it. You then make monthly payments to the Trustee for three to five years. The Trustee will pay the proceeds of your plan payments to your creditors until you complete the plan or the Court dismisses your case or converts it to another Chapter.

Upon completion of your plan, the Court will issue a discharge order, the Trustee will prepare a final report, and your case will be closed. A discharge will not issue if you fail to verify that you have made all of your Domestic Support Obligation payments and filed your certificate of completion of the Financial Management course.

The Chapter 13 process is very complicated and plans of reorganization are hardly ever successful without the assistance of a bankruptcy lawyer.

What is Bankruptcy? 

What Can Bankruptcy Do for Me? 

What Bankruptcy Can Not Do

What Different Types of Bankruptcy Should I Consider? 

What Will Happen to My Home and Car If I File Bankruptcy?

Can I Own Anything After Bankruptcy?

Will Bankruptcy Wipe Out All My Debts?

Will I Have to Go to Court?

Will Bankruptcy Affect My Credit?

What Else Should I Know?

What is the Bankruptcy Code?

Is the Bankruptcy Court a State or Federal Court? 

Who can file bankruptcy?

Do I need an attorney to file for bankruptcy?

What are the different "Chapters" in bankruptcy? 

What is a Joint Bankruptcy Petition? 

Does my spouse have to file if I file?

What is a Bankruptcy Trustee? 

What documents are needed to file bankruptcy? 

How much is the Court filing fee?

What about credit counseling and personal financial management instruction-what is the difference between the two? 

What is the “Means Test”? 

How can I change or correct information in the petition, statements, and schedules I have filed? 

What is a Meeting of Creditors? What happens there?

I don't live in the Denver Metropolitan area. Where will my Creditors Meeting be held?

How do I know if a debt is secured, unsecured, priority, or administrative? 

What are exemptions? 

What happens after I file my bankruptcy case? 

What is a discharge? 

What is the Difference between a Denial of Discharge and a debt being nondischargeable? 

I attended a Section 341 Meeting of Creditors before my case converted to another chapter. Do I have to attend another meeting? 

What if my case is dismissed? 

My case was dismissed because I failed to pay all of the installments of the filing fee. Can I file a new bankruptcy case? If so, can I pay the new filing fee in installments? 

What is a Reaffirmation Agreement? 

What is a Motion for Relief from Stay?

What can I do if a creditor keeps trying to collect money after I have filed a bankruptcy? 

What services can a "Bankruptcy Petition Preparer" provide? 

Will the Judge advise me of my options during the bankruptcy case? 

May I speak directly with a Bankruptcy Judge?

What is an Adversary Proceeding?

If my case gets dismissed, or I change my mind about filing, can I get my filing fee refunded? 

When am I under bankruptcy protection?

Who has access to my bankruptcy file? 

Will all my creditors be notified of my discharge? 

When is my case complete? 

How soon after I get my discharge can I file for bankruptcy again? 

Will the U.S. Bankruptcy Court provide and pay for an interpreter for me? 

What if a creditor tries to collect money after I get a discharge? 

How can I get another copy of my discharge? 

How many years will a bankruptcy show on my credit report? 

How do I get errors removed from my credit report?

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I welcome your questions and will be happy to provide you with a free initial consultation.  Just give me a call or send a fax or e-mail:

Robert J. Doig
Attorney at Law

2985 Broadmoor Valley Road, Suite 4
Colorado Springs, CO 80906
719 227-8787  Office
719 325-8355  Fax

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.