What is the process of filing bankruptcy?

Bankruptcy is a code of federal laws in the United States that allows an individual or business to "discharge" personal liability on debt when you qualify and otherwise do not have disposable income to pay dischargable liabilities. Often, one will hire a bankruptcy attorney to get advice and prepare the bankruptcy petition and schedules that are filed with the bankruptcy court. The bankruptcy court issues a discharge order that goes out to creditors, forever barring them from contacting a "debtor."

A full detail of a chapter 7 bankruptcy would take far too long in this forum to explain.

The process involves filling out a petition and submitting documents to the Court and a Court appearance.

Filing a Bankruptcy case starts by the filing of a Bankruptcy Petition. In the petition, you must list all of your debts and all of your assets. Along with the petition, you must file copies of your paychecks and a credit counseling certificate. Once the petition is filed, you will have a meeting, called a 341 meeting. At this meeting, a Trustee will be assigned to your case and he/she will ask you questions regarding the petition that was filed on your behalf. If any creditors are present, they can ask you specific questions relating to their debts. If you have filed a Chapter 13 case, you will then have another hearing, called a confirmation hearing. At this hearing, the Judge will either approve your case or dismiss it. Keep in mind that each case can be fact specific and the events in each case will vary from case to case. Contact a Bankruptcy Attorney and he/she will be able to give you more details depending on the specifics of your situation.