What Is the Bankruptcy Process?

When facing a challenging economy, many individuals become concerned about the stability of their financial futures. While bankruptcy is a viable option for many people, there are an unfortunate number of misconceptions about the Code and the process. A knowledgeable Tennessee lawyer can answer all of your questions.

At the law office of Kenneth C. Rannick, P.C., it is our goal to remove all fear and apprehension from the process. With so many myths and misconceptions, it is wise for individuals to truly find out the answer to their question — What is the bankruptcy process?

  • Gathering documents: Following your consultation, we will need you to gather financial documents such as pay stubs, bank account statements, credit card statements and tax returns. With this information, we can get a clear picture of your finances and what your best course of action is.
  • Credit counseling: You will be required to take a brief credit counseling course. This course can be completed online from the comfort of your own home.
  • Filing your case and the automatic stay: As soon as your bankruptcy is filed, you are protected by the automatic stay. Creditors must immediately cease all collection efforts, and return that repossessed car that is about to be sold!
  • Meeting of creditors: In most instances, this is the only time you will have to appear in court. This is a short, informal meeting before your bankruptcy trustee, and where your creditors are invited to appear. We will attend this meeting with you to ensure there are no obstacles.
  • Discharge or repayment plan: In Chapter 7, debt discharge usually occurs about 100 days after filing. In Chapter 13, you will begin a debt repayment plan that will last from three to five years.

"Since 1988 I have filed more than 14,000 bankruptcies for clients in the Chattanooga area and helped them get out of debt. I can help you too — and do it affordably." - Kenneth Rannick

To discuss your specific situation in greater detail, contact an experienced Chattanooga attorney today.

Contact Our Firm

If you have questions regarding the bankruptcy process, contact Kenneth C. Rannick, P.C. Contact our office by calling 423-954-7180 or by simply completing the e-mail form on this website. We offer free consultations and can maintain evening or weekend appointments based on the needs of our clients.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.