Five Steps to Financial Freedom

Step 1 – The Initial Consultation

The bankruptcy process begins with your initial consultation with Dudley Morton. Mr. Morton will review your financial situation and discuss the different types of bankruptcy relief available to you. If you determine that bankruptcy is the best option to obtain financial freedom Mr. Morton will begin working for you immediately. Mr. Morton will provide you with an easy to follow information packet that will assist you in gathering the information necessary to file your bankruptcy petition

Step 2 - Credit Counseling

Anyone seeking protection under either a Chapter 7 or a Chapter 13 must take a credit counseling class prior to filing your case. There are many different agencies that provide credit counseling classes. However, it is important to understand that the agency must be approved by the Court. Most agencies provide classes on the telephone or online.

Step 3 – Filing Your Bankruptcy Petition

After reviewing your information packet Mr. Morton will meet with you to review and sign your bankruptcy petition. Once your petition is filed with the Court you are immediately protected by the Automatic Stay. The Automatic Stay stops harassing telephone calls and letters from creditors, garnishments, foreclosures, lawsuits and other collection actions.

Step 4 – The Meeting of Creditors a/ka/ Your Court Date

Upon filing your bankruptcy petition the Court will automatically schedule your Section 341 Meeting of Creditors. Generally, the Meeting of Creditors occurs approximately 30 days after you file your case. The Meeting of Creditors is a meeting with the Trustee assigned to your case and generally lasts no more than 15 minutes. Following your Meeting of Creditors you must take a Debtor Education Course. The Debtor Education Course is similar to your credit counseling requirement and may be taken with the same agency – either on the telephone or online.

Step 5 – The Order of Discharge

In a Chapter 7 Bankruptcy, you will receive your discharge approximately 75 days after your Section 341 Meeting of Creditors. In a Chapter 13 bankruptcy, you will receive your discharge once you have successfully completed your Chapter 13 Plan. The Discharge is the document issued by the Bankruptcy Court which officially relieves you of your dischargeable debt. Please note that some debts cannot be discharged in a bankruptcy. Examples of non-dischargeable debts include most student loans, most taxes and other debts owed to the government, child support obligations, and debts that were not included in a Chapter 13 plan.