BANKRUPTCY PROCESS FOR VENTURA

How Bankruptcy Works

Before making a decision about bankruptcy, you should have a thorough understanding of the entire bankruptcy process. Bankruptcy is a legal remedy that helps individuals and small businesses overwhelmed by debt get a fresh financial start. One of the first steps of the process is to find out if you qualify for Chapter 7 or Chapter 13. Chapter 7 bankruptcy is the discharging of unsecured debts. In a Chapter 13 bankruptcy, you will be allowed to restructure your debt into an affordable payment plan to your creditors. To find out your eligibility for Chapter 7 or Chapter 13, you will need to take a means test which will be administered by #1 Ventura bankruptcy lawyer Michael Grennier . The complex test will determine if you have any non-exempt disposable income that can be used to pay back the money you owe.

Before filing a bankruptcy petition, you will need to participate in credit counseling from a federally approved organization. These classes are conducted online or by phone. After your petition has been filed, your information will be reviewed by a bankruptcy court trustee. A hearing will then be scheduled where any issues regarding your petition will be addressed. Attorney Grennier will personally represent you at the hearing. Following the hearing, and before your discharge is approved, you will need to complete a financial management class, either by phone or online.

Bankruptcy Attorney in Ventura

Grennier Law is a full-service bankruptcy firm that has helped thousands of clients with the bankruptcy process. There are various documents that will be needed when preparing your petition, including:

• Bank statements
• Recent income tax returns
• A list of assets and debts
• A list of your income sources

Contact Ventura bankruptcy attorney, Michael Grennier for proven legal representation if you are planning to file for bankruptcy. Call today to schedule a FREE consultation at 805-643-3900.