Before you file for Bankruptcy, you need to collect a few documents. These documents include all your financial information. Like all your secured and unsecured debts, your deeds to any real estate that you own, tax returns for last two years, car titles, and other loan documents that you possess. Submitting the credit report can be a good step for you.

After getting all your personal information collected, you need to fill in all the bankruptcy forms by yourself or with the help of your attorney. These forms basically ask you to mention your present financial status and the recent transactions that you have made (this usually means by the transactions made in last two years. If you are filing Chapter 13 Bankruptcy,

than a proposed repayment plan must also be submitted with your petition. Once you are done with this petition, you need to file petition with your local United States Bankruptcy Court. The Chapter 7 Bankruptcy filing costs $200 and the fees of Chapter 13 Bankruptcy is $185.

As soon as you file the petition with the Bankruptcy Court, the process begins itself. During the process, the petition doesn’t allow any of your creditor to communicate you directly or to put claim on any of your property. Nearly after a month, the trustee calls upon for a meeting of creditors. The meeting, also known as 341 meeting requires the presence of the debtor. Creditors rarely attend the 341 meeting, even when they have issues with the bankruptcy filing.  The problems are usually cleared by discussions between the debtor or debtor’s counsel and the creditor. Usually the meeting lasts for five minutes. If the meeting goes well without any dispute, then you will receive a letter from the court in next four to six months the bankruptcy has been discharged.

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