Banker-Page-980-x-718

JOHN A. BANKER

Attorney at Law

Attorney at Law

john a banker

 

What Happens Next?

Chapter 7:

 

 1. You bring us the information we need and take the Credit Counseling course.

 2. We prepare the petition, schedules, and other documents for you to sign.

 3. After we file, you'll get a notice for your hearing in Flagstaff and a packet from the Trustee. Make an appointment to bring us the materials the Trustee wants.

 4. You attend the hearing in Flagstaff and take care of any follow-up that the Trustee requires.

 5. During the next 60 days you have to take care of any Reaffirmation Agreements on secured loans (house, car, etc.) you want to keep, and take the Debt Management course.

 6. About 60 days from the date of your hearing, you will receive a Discharge, stating that your creditors (with some exceptions) no longer have the right to pursue you.

 7. You still need to take care of any unfinished business with the Trustee. This includes the requirement to turn over tax refunds and copies of returns next April.

 

 

Chapter 13:

 

 1. You bring us the information we need and take the Credit Counseling course.

 2. We prepare the petition, schedules, and other documents for you to sign.

 3. After we file, you'll get a notice for your hearing in Phoenix and a packet from the Trustee. Fill out and return the Trustee's questionnaire.

 4. We'll make an appointment for you to go over and sign your Plan. You'll have to start making plan payments within 30 days of filing the Petition.

 5. You attend the hearing in Phoenix and take care of any follow-up that the Trustee requires.

 6. During the next 60 days the Trustee and creditors have a chance to comment, object, etc. to your Plan. We may have to negotiate with some of the creditors over the contents of the plan. You'll receive a Trustee's Evaluation indicating what steps need to be taken to get your Plan confirmed. We should go over this document in detail.

 7. Once all the issues are resolved to the creditors' and Trustee's satisfaction, the Judge will sign an order confirming the plan. After that, everyone is required to abide by it.

 8. After you make your last plan payment, you will receive a Discharge, stating that your creditors (with some exceptions) no longer have the right to pursue you. WHAT IF I AM GOING TO MISS A PAYMENT? Call us as soon as you're aware of a problem with making payments to your Trustee or your mortgage company. There are options, such as requesting a "moratorium" (a break in the action) or filing a modified plan. The worst thing you can do if you're going to miss a payment is ignore the problem and hope it goes away-you may put your entire case at risk of being dismissed.

We don't do loan Modifications.

We can Help with foreclosures...

What Happens Next?

Serving The White Mountain Area For Over 17 Years.

PRINT THIS PAGE PRINT THIS PAGE Organizations Offering Help