September 3, 2015


CHAPTER 7 BANKRUPTCY TIME LINE – We many times are asked for a breakdown of how a Chapter 7 bankruptcy works in simple steps.  Below are the 10 steps that you will be required to take in order to receive your fresh start.  Remember, we make it easy!   For the visually oriented, we have built a “10 Steps To  A Fresh Financial Start” guide below.

STEP 1 : FREE Consultation with Lawyer:

Step One Allows You to talk and make plans with the Bankruptcy Lawyer John Forest Bymaster.  You will feel much better after leaving the office that day!

STEP 2: Gather Required Fees & Documents

You will be required to assemble some information and can pay for your bankruptcy case in payments over time.

STEP 3: You Complete Credit Counseling Course

You must complete your credit counseling class.  This class takes one hour, can be accomplished over the phone or the internet, and usually costs $10 or less.

STEP 4: Meet with Paralegal to Review Fees & Document

You call our office for a single meeting to bring in the rest of your fees, your documents, and the certificate showing that you have already taken the credit counseling class.

STEP 5: Your Lawyer Drafts the Bankruptcy Petition

Your bankruptcy petition is drafted by our office and any additional information is requested.

STEP 6: You Review & Sign Your Bankruptcy Petition

You will come to our office to review and sign your bankruptcy petition.   If you live far away, we may be able to mail it to you and review the document through phone and correspondence.

STEP 7: Petition is Filed and Your Case is Started

This is the moment that your bankruptcy case begins: all of your creditors will be “stayed” from any future collection activity.

STEP 8: You Complete Financial Education Course

You must now complete your financial management class.  This class takes two hours, can be accomplished over the phone or the internet, and usually costs $8 or less at our office.

STEP 9: You & Your Lawyer Attend the Bankruptcy Meeting

You will meet us at the Federal Court House in Downtown Indianapolis or at one of the other Indiana meeting locations such as Terre Haute, Muncie, or Lafayette.    You will answer a series of simple financial questions that usually take about 10 minutes.  Bring your driver’s license, social security card, your two most recent paycheck stubs, and your bank statements with you.

STEP 10: Final Discharge is Entered

The final discharge of your Indiana Chapter 7 case will be granted automatically usually 60-90 days after your bankruptcy meeting.   It is very important for you to comply with any request of the bankruptcy trustee because your discharge can be revoked if you do not comply with the Trustee’s requests.

Congratulations on your Fresh Start!  If you are willing to go through the 10 above easy steps, you will receive the forgiveness of your debts in Chapter 7 bankruptcy!

~Indianapolis Bankruptcy Attorney John Bymaster


10 Steps to a Financial Fresh Start

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