The Complete Process of Filing Chapter 7 Bankruptcy

Chapter 7 Bankruptcy Wylie TXIf you have recently lost income or acquired an excessive amount of unmanageable debt, filing chapter 7 bankruptcy may be the right decision for your needs. Understanding the complete legal process will ensure your bankruptcy proceedings are finalized smoothly and efficiently.


Credit counseling is mandatory, so you must undergo these counseling sessions before you can file bankruptcy. During these classes, you will learn how to manage your income and smartly use debt.

After taking the course, you will receive a completion certificate. Then, you will be ready to begin the filing process.

File Forms

Your attorney will help you fill out all the necessary forms to file bankruptcy. You will be required to complete a means test, showing the courts you do not have the actual means to pay your debts. You will also have to show proof of your debts and what income you have coming into the household.

Property exemptions are also filed during this time.

Once all forms are filed, an automatic stay goes into place. The stay stops collectors and creditors from contacting you.

A trustee will be assigned to review all of your forms and handle the rest of your bankruptcy case.

Meeting of Creditors

A meeting of creditors is held once all your forms are filed. During this meeting, you will answer questions under oath your creditors have regarding your income and inability to pay the debts.

Although short and direct, the meeting of creditors is an imperative part of your chapter 7 bankruptcy.


After all files are formed and questions have been answered, the courts will decide on whether or not to confirm your bankruptcy. If you can pass the means test and your income shows you are not able to pay the debts through a repayment program, the courts will confirm the chapter 7.

Once confirmed, the non-exempt property may be seized and sold to pay creditors. Secured debts, which are backed by collateral, must be paid as agreed.

Financial Management

After filing and before your bankruptcy is discharged, you will be required to take a financial management course. As the name suggests, the course teaches you how to manage your finances to prevent further distress during and after your bankruptcy.

Once complete, you will need to provide the courts with a Certification About a Financial Management Course form.


The final discharge paperwork will be sent to you within 3 to 6 months after you first begin filing. The bankruptcy discharge will only be sent if you have completed the above steps.

It is important to note that bankruptcy is not a quick fix. The legal process is lengthy. To learn more about the process of filing chapter 7 bankruptcy in the Wylie, TX, area, contact Collins & Arnove today at 972-516-4255.

Collins & Arnove | Chapter 7 Bankruptcy Wylie TX | 972-516-4255