File for Bankruptcy what I have to go through?

[TBM700]

Dear all,
After lost my job 2 months ago, now I haveing hard time pay back my cards which I took cash for my expenses. I'm thinking about fileing for bankruptcy. Does anyone have any clue what will happen down the road? Can I do myself without attorney? I heard that after i filed, I have to sit down in the meeting called "creditors meeting" what is it? what I need to bring along with me?

 

[dorenephilpot]

If you took out cash advances within 90 days of filing, you're going to have a hard way to go, thanks to the creditors, who will argue that you knew you were going to file and that you should have to repay them for the cash advances.

Job loss and divorce are the top two reasons that people file.

If you're going to file a do-it-yourself bankruptcy, you have a LOT of research to do to get yourself up to speed on the process.

Unfortunately, we cannot explain the entire process here to you.

After you do your research, please come back to us with specific questions.

To answer your specific question about the creditor's meeting: That's an opportunity for your creditors to allege any fraud on your part (Hey, he has a paid-off Mercedes in his garage that he didn't list as an asset.), or for them to get a signature on a reaffirmation agreement (such as your car that you want to keep and continue to pay on) or for them to arrange to get property back (such as your car if you are woefully upside down on it and want to surrender it back to the creditor). Generally, no creditors show up at this meeting, and it usually lasts only 3-5 minutes (if your petition is clean). If your petition is a mess, then you can expect to be there for a long period of time and probably come back for another once you clean up your petition.


Hope this information helps.