Thinking About Bankruptcy? Here’s What You Need to Know About Filing
If you’re overwhelmed by debt and considering bankruptcy, you’re probably wondering: How quickly can I file and start fresh? The good news is that filing for bankruptcy doesn’t have to be a long process. With the right preparation and guidance, you can move forward in just a few weeks. Let’s break down the timeline and steps.
What Needs to Happen Before You File?
Before you can officially file for bankruptcy, there are a few key steps to complete:
1. Sign a Representation Agreement with Our Office
- You will sign a representation agreement that spells out the terms of our working relationship.
- You will pay a deposit at the time of signing.
- You will continue to pay any necessary legal fees before we draft or file the case.
2. Complete a Credit Counseling Course
- A credit counseling course is mandatory before filing for bankruptcy.
- It takes about 60–90 minutes and can be done online or over the phone.
- This course reviews your finances and prepares you for what’s ahead.
3. Gather Financial Documents & Complete a Questionnaire
To prepare your case, you’ll need to gather:
- Recent pay stubs
- Tax returns
- Bank statements
- A list of your debts and assets
- Various other documents to ensure we can properly draft your case
- Complete your online questionnaire.
Being organized will make this step faster, but it may take a few days (or longer) to locate everything.
4. Prepare Your Bankruptcy Petition
- Once all your documents are ready, we will review all your documents and questionnaire and begin drafting your bankruptcy case.
- Depending on the complexity of your case, this step can take about seven to ten business days.
- The documents filed with the court outline your financial situation and officially begins the bankruptcy process with the court.
How Quickly Can You File?
In most cases, you can file for bankruptcy within two weeks after we receive your legal fees, completed questionnaire, and supporting documents. The timeline largely depends on:
- How quickly you pay the legal fees and filing fee (if applicable).
- How promptly you gather the necessary documents and complete the online questionnaire.
If you’re organized and proactive, the process can move along smoothly and efficiently.
What Happens After You File?
The moment your bankruptcy petition is filed, the automatic stay goes into effect. This means:
- Creditors must stop collection calls and letters.
- Wage garnishments, lawsuits, and foreclosures are halted.
- You’ll have breathing room to focus on your fresh financial start.
How to Stay on Track for a Quick Filing
Here are a few tips to ensure a smooth process:
- Communicate with your attorney: Provide requested documents promptly.
- Stay organized: Use the Document Checklist to track what’s needed.
- Ask questions: Don’t hesitate to reach out for guidance along the way.
Ready to Take the Next Step?
Filing for bankruptcy can be a straightforward process when you work with experienced professionals. At Bloom Legal Advisors, we’re here to guide you every step of the way and help you achieve the financial fresh start you deserve.
We’d Love to Hear From You!
- Are you considering bankruptcy but have concerns about the process?
- Have you completed a credit counseling course? What was your experience like?
- Share your thoughts or questions —we’re here to help!
Start Your Financial Fresh Start Today!
Take the first step by scheduling your consultation with Bloom Legal Advisors. Together, we’ll create a clear path to financial freedom. Schedule today to get started!