At Kain & Scott, the final step before filing a bankruptcy is the Review & Sign appointment. Clients come into the office to prepare the bankruptcy petition and make sure the client is ready for filing. Being prepared ensures this meeting goes smoothly and allows the bankruptcy to be filed promptly, generally within days of the appointment.
When a debtor decides to move forward with a bankruptcy and schedules a Review & Sign, the client will be asked to gather certain information and bring it to their appointment. Clients are also welcome to send in information beforehand. The bankruptcy petition will be assembled from this information, so it is important that nothing be missing. It is especially helpful to already have estimated the value of assets. If the needed information is not provided, clients may have to come back for a second meeting to make sure the bankruptcy petition is fully complete.
Typically, the first half of the appointment is spent with a legal assistant filling in the petition. A bankruptcy petition is an extensive document, so it can take a bit to answer all its questions. The rest of the appointment is spent with a bankruptcy attorney going over the petition and answering any questions the client may have. In a Chapter 13 bankruptcy, the attorney will estimate the payment plan monthly payment amount. This number is not final, but the attorney will say if he or she expects the trustee to change it.
Once everything is complete, the petition can be filed. The attorney will be able to say when the case should be filed. Now the client can prepare for the 341 meeting.
When the time is right, or when you are ready, reach out to the attorneys at Minnesota’s LARGEST bankruptcy law firm at www.kainscott.com. You will be glad you did!