Cincinnati Bankruptcy Process

If you are thinking about filing for Chapter 7 or Chapter 13 bankruptcy, you probably have questions about the bankruptcy process: How long will it take? Is there a lot of paperwork? Will I have to attend hearings?

At The Rose Law Office in Cincinnati, Ohio, our attorneys will guide you through all aspects of the bankruptcy process, making the road to debt relief as smooth as possible. We have extensive experience handling bankruptcy cases for clients in Cincinnati and throughout surrounding Ohio communities.

The Chapter 7 Bankruptcy Process

Before filing for Chapter 7, you must pass a means test, which determines if your disposable income falls below a certain level. If you pass the means test, you may file for Chapter 7 bankruptcy.

  1. Filing the bankruptcy petition and other forms: The bankruptcy petition includes detailed information about your finances, including all assets and debts.
  2. The automatic stay: Once you file your bankruptcy petition, the automatic stay goes into effect. This legal injunction automatically stops creditors from taking legal action against you such as foreclosure, repossession and wage garnishment.
  3. A trustee is appointed: The trustee's job is to review your paperwork and determine whether you own any non-exempt assets. In the rare case that there are non-exempt assets, the trustee has the right to distribute the proceeds of those assets for the benefit of your creditors.
  4. The meeting of creditors: This meeting, formally called a 341 meeting, gives your creditors an opportunity to ask you questions about your finances. Oftentimes, creditors do not show up for this meeting.
  5. Debt discharge: Three to six months after you file your petition, you will receive your bankruptcy discharge. Soon thereafter, your case will be closed and you will no longer owe the debts that were discharged in the bankruptcy.

In addition to the above steps, you will also have to complete mandatory credit counseling.

Typically, the Chapter 7 bankruptcy process takes between four and six months. However, the unique circumstances of your case may affect the time frame.

The Chapter 13 Bankruptcy Process

The Chapter 13 bankruptcy process also includes mandatory credit counseling. Once completed, you may proceed with filing for Chapter 13.

A key difference in the Chapter 13 process is that you must propose a payment plan to the bankruptcy trustee. The plan will first be reviewed by your bankruptcy trustee at the creditors' meeting, then by a bankruptcy judge who will either approve or deny the plan.

Once your plan is approved, you will enter into a three-to-five-year payment plan. If you make all of your monthly payments during the course of the payment period, you will receive a discharge.

If circumstances, such as job loss or a medical crisis, make it impossible for you to keep up with your Chapter 13 payment plan, the court may offer some flexibility. As your bankruptcy law firm, we will represent you from the initial filing stage until the conclusion of the Chapter 13 process.

Contact Us To Begin Creating Your Bankruptcy Plan

If you have questions regarding the Chapter 7 or Chapter 13 bankruptcy process, our lawyers are here for you. Contact us today online or by telephone at 513-729-7196 to arrange a consultation with an experienced Cincinnati, Ohio, bankruptcy lawyer.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.