Chapter 7 Bankruptcy

What happens when I file an Arkansas Chapter 7 Bankruptcy?

When filing a Chapter 7 Bankruptcy in Arkansas, there are six basic stages you will experience, and your Bankruptcy will generally be complete within four months of filing.

We sit down and discuss your options, including whether bankruptcy is right for you, and if it is, what chapter makes the most sense. If you decide to file, we will sign an engagement letter and start the representation – you will have all creditors call us at this point.

Once you are ready to file, you will bring us copies of all your outstanding bills, bank statements, pay stubs, your last two years of tax returns, and any other documents we discussed at the initial interview.

You are required to take a pre-filing credit counseling course, which you can do online or in person and costs between $10.00 and $50.00. This should take you about an hour and can be done anytime from home, work, or in person with Credit Counseling of Arkansas.

After we have all your information and you have taken the credit counseling course, our skilled attorneys will prepare your bankruptcy petition. You will then come to our office where we will go over every page of your petition. We will discuss what each and every entry means so that you understand what you are signing and you are sure that the information in these documents is correct.

Only when you have reviewed everything and you are confident everything is correct will we file these documents with the Court, get you a case number, and see to it that your creditors are informed of your filing. This is when all the phone calls stop!

This sounds scarier than it is. We give you a call beforehand and prepare you to answer all the questions that the trustee — who acts like the judge in these meetings — might ask.

When you arrive at the meeting, we will be there to greet you and take you through your meeting with that trustee. It normally takes five minutes, and typically no other creditors show up.

After your Meeting of Creditors and the Trustee, you are required to take a second credit counseling course, which also costs between $10.00 and $50.00. Once this is complete, make sure that the credit counselor emails your bankruptcy attorney a copy of your certificate for us to file. Generally in a Chapter 7, you will receive a discharge letter in the mail about sixty days afterwards.

Use of this website does not establish an attorney client relationship between you and the Story Law Firm, PLLC. Please call (479) 443-3700 to set up an appointment with one of our attorneys.

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