Before We Dive In

• A few things to know before we get started

The Basics of Chapter 7 Bankruptcy

• What is Chapter 7 bankruptcy, and what can it do for you?
• Types of bankruptcy: Is Chapter 7 right for you?
• Alternatives to bankruptcy
• The bankruptcy process in a nutshell
  • Mandatory credit counseling
  • Determine where to file
  • Fill out and file paperwork
  • Receive notice
  • The automatic stay
  • The trustee
  • 341 hearing
  • Creditor objection period
  • Financial management course
  • Transfer property to the trustee
  • Receive a discharge

Are You Eligible?

• Eligibility: An introduction
• A word for veterans, reservists & business owners
• The median test
• The means test calculation

The Automatic Stay

• The automatic stay: Another way to say ‘relief’

Your Property: What Can You Keep?

• Your bankruptcy estate: What’s included, what’s not
• Your property worksheets
• Exemptions: The key to keeping your property (an introduction)
• How exemptions work
• Finding your exemptions
• Using exemptions to your advantage
• Special circumstance: You’re named on someone else’s bank account
• Special circumstance: Your property is held in a trust
• Prebankruptcy planning to maximize exemptions

Your House

• Equity and the homestead exemption
• The catch: If you’ve bought your home recently
• Tenancy by the entirety states
• Foreclosure: An introduction
• Loans vs. liens
• How does foreclosure work? (And how to benefit from the process)
• Foreclosure defenses
• Will bankruptcy halt a foreclosure?
• Should you file for bankruptcy before or after foreclosure?
• Foreclosure avoidance
• Foreclosure alternatives
• The right of redemption

Your Debts

• Your debts: An introduction
• Understanding secured debts… it’s all about the liens
• What happens to secured debts in bankruptcy?
• Working around liens
• Non-purchase money security interest liens
• Judgment liens
• Other options for dealing with secured debt
• Debts that don’t go away in bankruptcy

Bankruptcy and Married Couples

• An introduction
• Community property states
• Common law states
• Divorce and bankruptcy

Getting Down to Business: Preparing & Filing Your Bankruptcy Petition

• An introduction
• If you need relief immediately!
• Where will you file for bankruptcy?
• Get ready… get set… get everything in order
• Tips for success
• Completing the required bankruptcy forms
  • Form 101: Voluntary Petition for Individuals Filing for Bankruptcy
  • Form 101A | Form 101B: Initial Statement About an Eviction Judgment Against You | Statement About Payment of an Eviction Judgment Against You (required only if your landlord has obtained an eviction judgment)
  • Form 103A: Application for Individuals to Pay the Filing Fee in Installments (required only if you wish to pay your application fee in installments)
  • Form 103B: Application to Have the Chapter 7 Filing Fee Waived (required only if you wish to have the application fee waived)
  • Form 106 Declaration: Declaration About an Individual Debtor’s Schedules
  • Form 106 Summary: A Summary of Your Assets and Liabilities
  • Form 106A/B: Property
  • Form 106C: The Property You Claim as Exempt
  • Form 106D: Creditors Who Hold Claims Secured by Property
  • Form 106E/F: Creditors Who Have Unsecured Claims
  • Form 106G: Executory Contracts and Unexpired Leases
  • Form 106H: Your Co-Debtors
  • Form 106I: Your Income
  • Form J: Your Expenses
  • Form 106J-2: Expenses for Separate Household of Debtor 2 (required only if a married couple is filing jointly for bankruptcy but maintains separate households)
  • Form 107: Statement of Financial Affairs
  • Form 108: Statement of Intention (required only if creditors have claims secured by your property or you have leased personal property and the lease has not expired)
  • Form 121: Your Statement About Your Social Security Numbers
  • Form 122A-1: Chapter 7 Statement of Your Current Monthly Income
  • Form 122A-1 Supp: Statement of Exemption from Presumption of Abuse Under § 707(b)(2)
  • Form 122A-2: Chapter 7 Means Test Calculation
  • Form 2010: Notice Required by 11 U.S.C. § 342(b)
  • Creditor mailing list
• Other forms required by your local bankruptcy court
• Additional documents that might be needed
• How do you file your forms?

You Filed…Now What?

• What happens after filing?

The 341 Hearing

• A look at the 341 hearing

Managing Your Case

• Learn how to manage your Chapter 7 bankruptcy case, including how to amend your bankruptcy petition, dismiss your case, or reopen it if needed. We’ll also explain common issues that arise and when to enlist the help of bankruptcy attorney.

Things that Could Complicate Your Bankruptcy Proceeding

• You fail the means test
• A creditor petitions to have the automatic stay lifted
• An exemption is disputed

The Bankruptcy Discharge

• Understanding your bankruptcy order of discharge

Life After Bankruptcy

• The basics
• Things that could still affect your case
• Getting back on track

Conclusion

• A final word