What a Bankruptcy Timeline Looks Like

finances problem during pandemicManaging personal finances in today’e economic environment is extremely challenging. Due to this, filing for bankruptcy could be a great way to reorganize debt and receive a fresh financial start. When you do file for bankruptcy, there is a general timeline that you should be aware of.

The first step in filing for bankruptcy will include filing the petition with the court and paying the associated filing fees. Brighton Beach NY bankruptcy attorneys can help you with this process to ensure everything is filed appropriately. At this point, you will also be assigned a trustee that will manage your case. Within a few weeks after this point, you will be obligated to provide tax returns and other financial statements to the trustee.

About a week after you provide your information to the trustee, there will be a meeting of the creditors held. During this meeting, all of your creditors will review your personal financial situation including assets, income and debts. Based on this situation, the creditors will start the process of determining how any assets could be split to offset your debts. Your Brighton Beach NY bankruptcy attorneys will be a part of this process to ensure your rights are represented.

Within 90 days of filing your initial claim in bankruptcy court, there will normally be a final judgment and declaration made. In most cases, the discharge will normally be granted by the 100th day following your filing. There may also be some other prerequisites that need to be bet, which can include requiring you to take a financial management course.

When you are looking to file for bankruptcy in the area, hiring Brighton Beach NY bankruptcy attorneys is extremely helpful. The Ursulova Law Offices is a great law firm to contact whenever you need any assistance with your bankruptcy filing. The team at the Ursulova Law Offices will be able to evaluate your situation, help you file and ensure that your rights are properly represented.

Ursulova Law offices, P.C.

Contact Ursulova Law Offices, P.C. to find out how our NY Bankruptcy Attorneys can help you today. Our offices are located in New York, Brighton Beach, Brooklyn and Garden City.


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