You file and what?

[niki123]

Hi, maybe not a very smart question, but what exactly happens right after you file bankruptcy?
Will someone come to take my cars, or the things I have at home or the home itself?

[frogger]

You hurry up and wait. Everything comes to a grinding halt until your 341 meeting. Absolutely NOTHING happens before your 341 meeting.

[disconapper]

There are numerous resources on this forum to give you an overview of the bankruptcy process. It depends on the type of bankruptcy you file as well..

Perhaps the General Bankruptcy thread can help answer.

I have never heard of anyone going into someone's house and taking their possessions. Filing can also prevent a car repossession.

Welcome to the Forum, this is an invaluable resource if you are considering filing.

[niki123]

Thank you foe fast replay. So, you say nothing happens till 341 meeting wich is i understand something like 4-6 weeks after i file.
What's next after meeting?

[frogger]

That depends. Did you file a 7 or a 13? Are you an asset or no asset case?

Regardless.... you still hurry up and wait as the process takes its course.

And as always - remember that bk is a process, not an event.

[sh9730]

Niki,

I sense you are asking out of fear and (admitted) ignorance. Nothing wrong with that, but if you read here....you will see...it is MUCH MUCH less scary than you think. Noone (even the creditors) are out to ruin your life. You file the paperwork (if you can afford it find a good atty to help you), all of the phone calls etc stop until you meet with the trustee at the 341. Even after that, noone comes and kicks you out of your home, or takes your property the next day. And in MOST cases, people get to keep a good chunk of what they have if they want, including house and cars. There are limits to how much you can keep, but for most people, those limits are plenty high to keep things that are important to them.

Just start reading here.....

[niki123]

thank for response. belive i keep on reading. i do believe in preparation and knowing as much as i can is my objective.

[Unibrow]

I was in your position a while ago. Start by reading the forum to understand the bk process. It will be confusing at first, but eventually you will start to understand what's going on. Pay extra attention to threads relating to California. We are lucky in a sense that we have better exemption than most states and trustees don't nickel and dime our expenses like some others.

Figure out your annual income and monthly expenses. After that look up the median income in our state. If you pass, move on to the Means test. Then go visit three or more attys in your area to get a sense of how your particular case will go. Once you're confident in your case and the numbers make sense, file bankruptcy!

[sunshinepa]

Welcome to the forum. As others stated, read, read and read again. This forum has a wealth of knowledge available. There are great folks here who not only can give good advice, pass along experiences and/or just provide moral support. Another resource for you is legalconsumer.com. It gives an overview of bankruptcy and provides a means test based on your living area.

Good luck and keep reading and posting!!!