The Bankruptcy Process in Maryland

 The bankruptcy process moves through several standard steps for each form of bankruptcy. The most commonly filed form of bankruptcy is Chapter 7. The process for Chapter 7 bankruptcy filing is usually completed within about four months. At The Law Office of Jason Perash, our Maryland Bankruptcy Lawyers can help you get the new financial beginning you need if you are in serious debt-related problems. Understanding the process can help you make a decision about whether to move forward. When there are pressing financial problems, it is better to solve them sooner than later, as the situation often just gets worse.

The Steps in the Process

Credit Counseling
A requirement prior to filing bankruptcy is that you get credit counseling. This is done through a federally
approved agency, at a low cost. The counseling is usually done on the internet, but can be done in person or on the phone.


Completion of Petition 
  I prepare your petition using information you provide. The information must be 100% accurate. As an aid in preparing your petition, I will ask you for 6 months of income information. After signing, you petition is filed with the court and the court notifies your creditors.


Court Appearance
You will have to appear at "The First Meeting of Creditors". This is also known as "The 341 Meeting" because section 341 of the Bankruptcy Code calls for it.  This generally takes place five to six weeks after you have filed your bankruptcy petition. You will be put under oath and questioned about your petition to determine if it is accurate. This meeting usually takes no longer than 10 minutes, and sometimes takes less than five minutes.  Jason will be seated right next to you during the 341 Meeting. Creditors have the right to attend, but rarely do. The Law office of Jason Perash will represent you at this meeting.


Discharge of Debt
After about 75 days, the bankruptcy process is completed and your debt discharged.This means you no longer have an obligaation to pay the debt. In some cases, a creditor may file a motion, in which case a further court appearance is necessary, but for most people this rarely occurs.


 Four to five months from the time of your filing you could be free from a crushing debt load. Our office is here to assist you throughout every step of the process. Jason knows how important it is to you and your family or your business to get back on your feet and have relief from the pressure of debt.  
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