Concepts You Should Understand Regarding Bankruptcy Court

December 13th, 2010 | Posted in Debt Relief

If you’re planning to file for bankruptcy you will indeed have to make a trip to court. The U.S. Bankruptcy court is really a federal court and works with all aspects of bankruptcy law. Every one of the 94 judicial districts handles bankruptcy matters.

Each bankruptcy courthouse has a personal bankruptcy judge that’s appointed for 14 years by the U.S. court of appeals. Though rare, once in a while, regular district courts can hear and check out bankruptcy cases at the court’s discression.

Your first stop at court will in all probability be brief. You’ll not be seeing a judge in your first visit, but rather a trustee in the court that will ask you questions regarding you financial status and history.

Questions will can be those like your geographical area, your credit card debt, what property you have, a listing of assets and liabilities and whether or not you have any pending lawsuits against another person.

You’ll get asked if you anticipate that you’ll inherit cash from a relative or other source. Creditors might be in attendance in your chapter 7 hearing as well as your lawyer.

For Chapter 13 hearings it will be the same basically. You may endure exactly the same questioning as well as questions relating to your repayment plans.

After sixty to ninety days you may be returning to court to end the discharge order. It is crucial though that you appear and be prompt. The court could see you in contempt and not discharge your bankruptcy case unless your attorney successfully files a continuance. Then you will more than likely have to pay your attorney another filing fee on top of anything else.

Sarah Taylor is an expert in credit card debt and creator of the guide Solivagant Polydipsia.