Nine Steps to Bankruptcy Relief

This step is designed to informally review your financial situation to determine if you are an individual or a business, and if you qualify as an “assisted person” under the U.S. Bankruptcy Code.The questions in Step One set the table for which path to look at more closely and to explore non-bankruptcy alternatives. Often times, Steps One and Two occur simultaneously. You can take the first step right now.

This will be our first meeting, where we review your financial situation, provide a clear explanation of the various chapters of the bankruptcy code and give you required disclaimers concerning the bankruptcy process. The advice given here is general in nature, and specific advice cannot be given until more documentation is reviewed and a questionnaire is completed. A formal retainer agreement with our office is required to move to the next step towards bankruptcy relief.

Of the nine-steps, this is the one that requires the most work on your end. You will be provided with a checklist of mandatory documents that must be disclosed to our office in order to file bankruptcy for you. Specific legal advice can be rendered once this documentation is provided and you’ve completed a questionnaire that forms the basis of your bankruptcy filing. Your credit report is also obtained and reviewed during this stage.

If you are a current client, please enter your 4-digit client code to begin submitting your questionnaire.

4-Digit Client Code:

This will be our second meeting, where we review the information you gathered in step three with a fine-tooth comb. This step utilizes my skill, knowledge and experience to determine which type of case to file, and identify legal issues that may arise according to your circumstances. The flat fee you paid in step two covers all of our work until the close of this step. A second retainer agreement is signed at the close of this step, detailing a payment structure for my fees, and authorizing my office to file your bankruptcy and perform work for steps Five through Nine.

Our office will prepare your bankruptcy papers (the petition and schedules) and contact you for concerning any missing or supplemental information. This is the step where we address any loose ends prior to filing.

This is our third meeting, where you will personally review and verify the accuracy of the petition and schedules we have prepared for you. All fees and your credit counseling certificate are due at the end of this step.

The filing of a bankruptcy case, under any chapter of the Bankruptcy Code, triggers an injunction against the continuance of any action by any creditor against you or your property. Creditors are prohibited from collection calls, repossessions, foreclosures, garnishments, levies, beginning law suits or continuing law suits. Our office will provide you with a case number to give to creditors in the event they call prior to receiving notice of your filing. You will receive more advice about the automatic stay, and direction on your plan if you file a Chapter 13.

Filing a bankruptcy levels the playing field with all your creditors, who are now forced to deal directly with our office and the trustee. This step includes a meeting with the trustee, and creditors, which varies depending on the chapter under which your case is filed. I will have explained the procedures and purposes of the meeting in detail prior to this step, and the basic limitations and rights the creditors have in objecting to your case. All correspondence received will be forwarded to you, and discussed, accordingly. The length of this step varies with the complexity of your case.

A bankruptcy discharge is something to celebrate, because of the hard work required to get one, and the promise of a fresh start to your financial future. Our office provides guidance and advice in advance of your discharge in how to rebuild financial stability, and provide some materials to help you in the days ahead. We also provide a discount for estate planning services to all our bankruptcy clients who successfully complete all 9 steps. If you’re reading this for the first time, wondering if you’ll ever get to step 9, I can assure you that with our assistance, and the combined efforts between you and our office to properly disclose and submit everything, that you will.

How Long Does Each Step Take?

The length of each step varies with the complexity of your situation, and the speed at which you can provide us accurate information. You may require special processing to get at Step Seven (filing and the automatic stay) ASAP.  This can be accomplished in a matter of days if you and our office can maintain fluid communication and provide accurate and complete information for filing.

Steps 8 and 9 can be concluded as early as 100 days if you file under a Chapter 7.   The length of Steps 8 and 9 when filing a Chapter 13 depends on how much you earn and how much you owe.

Why we use a step-by-step approach

Our Wausau bankruptcy office developed a nine-step approach to filing bankruptcy for two reasons:

1. to comply with the latest bankruptcy laws as a debt relief agency; and
2. to provide clarity for our clients considering a bankruptcy alternative.

I want to emphasize that there are alternatives beyond bankruptcy, which I can suggest, and I urge you to not jump aboard the first solution you see. Take your time, explore your options and consult with a bankruptcy attorney. Each step is designed to work in phase with the various stages of a typical bankruptcy under Chapter 7 or Chapter 13.

We’ve developed checklists at every step to assure compliance with the best procedure to assess and file bankruptcy matters, and to provide a road map for clients during the process.

What next?

You can take Step One: Inquire, right now. Your answers are kept in confidence within our office and cannot be reproduced for third-party marketing purposes. You may also contact our office through our contact page, or call us to set an initial consultation in our Wausau office.

Know your options and let us handle the details.

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