What Is The Bankruptcy Process?

The bankruptcy system was developed to help people deal with unmanageable debts in an orderly way.

In a consultation, an attorney at Robertson, Oswalt and Associates can answer your questions about qualifying for bankruptcy and explain the bankruptcy process. Contact us to schedule your consultation in one of our four offices in Arkansas.

Filing For Bankruptcy

If you choose to file Chapter 7 or Chapter 13 bankruptcy, our firm will file your bankruptcy petition electronically, putting an automatic stay on repossession, foreclosure, garnishment and collection lawsuits. We will then develop a debt relief plan designed to help you obtain maximum relief from your debts, while enabling you to keep as much of your property as possible.

Robertson, Oswalt and Associates will handle most aspects of your case, including all dealings with your creditors. Your only responsibilities will be to:

  • Provide us with basic information about your debts, your current income and copies of your tax returns
  • Complete debt counseling training. This can be done over the Internet or by phone.
  • Appear in a hearing before the bankruptcy trustee

About The Trustee Hearing

The trustee hearing is a key step in the bankruptcy process. This will be a brief meeting with the bankruptcy trustee to gain approval of your debt liquidation or reorganization plan. Your attorney will accompany you and provide representation during this hearing.

The hearing will be conducted in a professional and businesslike manner in a meeting room, not a courtroom. While creditors are entitled to attend trustee hearings, they rarely do. You will have to answer a few questions under oath. One of our lawyers will present your debt liquidation or reorganization plan for approval by the bankruptcy trustee, and the hearing will come to an end.

If you are filing Chapter 7 bankruptcy, your unsecured debts such as credit card debts and medical bills will be completely liquidated in three to four months. If you are filing Chapter 13 bankruptcy, your three- to five-year repayment period will then begin.

Contact Us

For a consultation with a Little Rock bankruptcy lawyer, contact Robertson, Oswalt and Associates.

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