Check out this video to learn about forgetting to list a creditor in Chapter 7 bankruptcy in South Jersey. Then call Andrew Carroll for a free case review.
Question:
What happens if I forgot to list a creditor when filing a chapter 7 bankruptcy?
Answer:
The other day we got a phone call in our office from a client here in South Jersey who is filing for Chapter 7. She was quite nervous because she realized that she forgot to list a creditor onto her bankruptcy. What we do in a situation like that is we file an amendment. Amendments are very common, and they happen very often in Chapter 7 bankruptcy, as situations can change during the course of your bankruptcy filing. If you have any more questions about this, please feel free to contact our office.
Here is the process that happens when you remember to list your creditors:
The means test is something you need to do before you file, again the test determines your eligibility. Once you’ve been determined to be eligible and begin the filing process, you will be asked to show some documentation, and there will be fees to send to the court. The documents you may want to begin collecting include:
- A list of your debts
- A list of all of your assets
- Proof of all income
- Summary of all of your finances
Once you have filed your petition, you will have something called automatic stay granted to you. What this does is it immediately halts the harassment from debt collectors. Your phone will finally quiet down.
An estate will shortly thereafter be set up. It is made up of any of your assets that will be eligible for liquidation. These assets will be used to repay some of your debt.
Any questions or concerns about this process can be brought to your South Jersey chapter 7 bankruptcy lawyers.
Next, you will have a trustee assigned to your case who is there to handle the meeting with your creditors. Under oath, you are going to be answering questions for both your trustee and your creditors. The questions will be about the debts. This meeting is designed to determine your reason for filing chapter 7 bankruptcies, and they will decide whether your reasons are legitimate. They are trying to weed out people who are trying to abuse the bankruptcy process.
We want you to be able to get started down this path if you are ready to get started.
Are you or a loved one constantly being called by creditors and have questions about if you forgot to list a creditor in Chapter 7 bankruptcy? Contact experienced South Jersey Chapter 7 bankruptcy lawyer Andrew Carroll of All Jersey Bankruptcy today for a free consultation and case evaluation.
We are dedicated to giving you the answers that you need in order to make an informed decision about whether bankruptcy is the best decision option for you.
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