JOHN A. BANKER

What Happens Next?

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ORGANIZATIONS OFFERING HELP

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.