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Chapter 7 Bankruptcy

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How Do I File for Bankruptcy? A Step-by-Step Breakdown

How Do I File for Bankruptcy If I’m Struggling With Debt?

How do I file for bankruptcy? If you’re overwhelmed by credit cards, medical bills, or personal loans, you’re not alone. Bankruptcy is a legal tool that helps you eliminate or repay debt under the protection of the U.S. Bankruptcy Court. But the process can seem confusing if you don’t know where to start.

This guide will walk you through exactly how to file for bankruptcy, from your first decision to your final discharge.

Understand the Different Types Before You File

The first step in learning how do I file for bankruptcy is to know which type is right for you. Individuals typically file under either Chapter 7 or Chapter 13.

Chapter 7 Bankruptcy (Liquidation)

  • Erases most unsecured debts (credit cards, medical bills, personal loans)
  • You must pass a means test to qualify
  • Cases are typically resolved in 3–6 months
  • You may have to give up non-exempt assets

Chapter 13 Bankruptcy (Repayment Plan)

  • Sets up a 3–5 year repayment plan based on your income
  • Helps you catch up on missed mortgage or car payments
  • Allows you to keep more of your property
  • Requires stable income

Once you decide on a chapter, you can begin preparing to file.

How Do I File for Bankruptcy? The 6 Key Steps

Step 1: Gather Your Financial Documents

Before you can file, you’ll need:

  • Tax returns (past 2 years)
  • Pay stubs or income proof (last 6 months)
  • Bank statements
  • Debt statements from all creditors
  • Monthly expense breakdown
  • Asset list (cars, home, valuables)

Step 2: Complete a Credit Counseling Course

You must take a U.S. Trustee-approved credit counseling course within 180 days before filing. It typically costs $20–$50 and provides a certificate required for your case.

Step 3: Fill Out Bankruptcy Forms

You’ll complete forms like:

  • Voluntary Petition (Form 101)
  • Schedules of Assets & Liabilities
  • Statement of Financial Affairs
  • Means Test Forms (for Chapter 7)

You can download these forms from the U.S. Bankruptcy Court website.

Step 4: File Your Petition in Bankruptcy Court

Submit your completed forms and certificate to your local bankruptcy court. You’ll pay a filing fee:

  • $338 for Chapter 7
  • $313 for Chapter 13

Waivers or installment payments may be available if you qualify.

Step 5: Attend the 341 Meeting (Meeting of Creditors)

About a month after filing, you’ll attend a short hearing called the 341 meeting, where a court-appointed trustee will review your case. Creditors may attend, but usually don’t.

Step 6: Complete the Debtor Education Course

Before receiving a discharge, you must complete a second course in financial education. Once done, file your completion certificate with the court.

Filing with or Without an Attorney

You’re allowed to file bankruptcy without an attorney (pro se), but it can be risky, especially if you have property, complex income, or non-dischargeable debts.

Benefits of hiring an attorney:

  • Ensures all paperwork is complete and correct
  • Helps protect assets using exemption laws
  • Handles communication with the trustee and creditors
  • Improves chances of a smooth and successful discharge

If you’re unsure, most bankruptcy attorneys offer free consultations.

Get Help With Bankruptcy Today

Still asking how do I file for bankruptcy and not sure where to begin? You don’t have to navigate it alone. Legal professionals can review your financial situation, explain your options, and help you take the right next step.

Start your recovery with a free evaluation through Bankruptcy Attorneys and get support that’s tailored to your financial needs.

Take action today—get the help you need to move forward with clarity and confidence.

Frequently Asked Questions (FAQs)

1. How do I file for bankruptcy if I lost my job?

You may qualify for Chapter 7 based on your income drop. Unemployment can actually make you eligible.

2. Do I need a lawyer to file for bankruptcy?

No, but legal help is strongly recommended, especially for Chapter 13 or if you own property.

3. What debts are not discharged in bankruptcy?

Student loans, recent taxes, alimony, and child support generally cannot be erased.

4. Will I lose everything I own?

No. Bankruptcy exemption laws allow you to keep basic property like your home, car, and household items.

5. Can I rebuild credit after filing?

Yes. Many people see score improvement within 1–2 years by using secured cards and paying on time.

Key Takeaways

  • Filing bankruptcy begins with choosing Chapter 7 or Chapter 13
  • You must complete credit counseling and submit court forms
  • Filing triggers an automatic stay to stop collections
  • Legal guidance can prevent mistakes and improve outcomes
  • Bankruptcy offers real relief from debt stress

Start Your Free Bankruptcy Evaluation

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What is your total debt?

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What is your total monthly income?

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Do You Own Real Estate?

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What is the estimated value of your assets?

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Is an attorney or advocate already helping you with your bankruptcy?

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