The Bankruptcy Process: Down the Road

Retain Needed Bankruptcy Counsel from a Topeka Lawyer

Your road to debt relief does not end with filing for bankruptcy. Maintaining your financial security is an equally important and challenging aspect of finding the freedom you and your family need. Our Topeka bankruptcy lawyers want you to have the knowledge and resources that you need to make the process work for you.

Waiting for the discharge

  • After the creditor's meeting and the counseling course, the case is pretty much on hold until discharge. You may still need to get documents, such as tax returns and pay stubs, to your attorney. In Chapter 13, you need to start making payments within 30 days after filing. Make sure you stay in contact with your lawyer, so if any problems arise they can be fixed. In Chapter 13, make sure the Trustee is receiving payments, either directly from you or by income withholding.

The discharge - your ticket out of debt

  • The discharge is the ultimate goal of your case. This court order will cancel your dischargeable claims - your credit cards, medical bills, payday loans, and all the other debts that are the source of your trouble. Student loans, recent taxes, and child and spousal support remain. Depending on the chapter you file, you may still have car payments. And, of course, if you have a mortgage you continue to pay on that. Otherwise, congratulations! You are on your way to a new financial life.

Budgeting

  • By now you realize that filing bankruptcy is not the end - it is a new beginning. From here on out your job is to make the bankruptcy "stick" - to make sure you are on the road to financial security. We love our clients, but we are not wild about repeat business! Whether you are fresh out of Chapter 7, or whether you are making payments in an ongoing Chapter 13, the key is to stay on a cash basis - do not borrow money to cover living expenses.
  • This will keep you from sliding back into the situation that causes you to file in the first place. Easier said than done, we know! It is difficult to balance a family budget in this economy. You do not have to do it alone. There are a number of agencies that can help. We recommend you call Housing and Credit Counseling here in Topeka. Let them know you are from Garrett Law LLC, and see what they can do to help you.

Borrowing money during bankruptcy

  • Getting your discharge typically takes three to six months in Chapter 7, and three to five years in Chapter 13. While bankruptcy is active, we encourage you to not borrow money. However, if your vehicle breaks down in the middle of the case, you may need to finance a new car. In general, an active bankruptcy will limit you to a small set of lenders. Most lenders shy away from borrowers until the Court issues the discharge.
  • The lenders that do loan money will charge interest rates from 18% to 28%. This makes borrowing money a last resort. If you can hold out until the close of the case, do so. Better yet, if you can address the issue with cash, maybe from an upcoming tax refund, you will do much better. For more information, download this handout.

If you're ready to get started, contact our team of attorneys today!

Read Our Reviews

Real Stories From Clients Who Found Financial Freedom
    "I would recommend this firm to anyone"
    They are always an email away to answer any questions. I would recommend this firm to anyone filing bankruptcy.
    - Former Client
    "We had a wonderful experience with Garrett Law!"
    We had a wonderful experience with Garrett Law! Definitely would recommend. Mr Garret and his staff are very knowledgeable and caring definitely make the process easy and painless! Highly recommend
    - B.H.
    "We are now on our way to being home owners slowly but surely!"
    I am very fortunate to have met Mr.Garrett, three years ago I felt so hopeless every time I thought about all the medical bills I owed & how this would affect my future.
    - J.W.
    "Highly recommend them!!"
    Absolutely enjoyed working with Garrett Law, him and his staff were wonderful through the process and very knowledgeable.
    - B.H.
    "Very calm, informed and easy to understand"
    I simply had a question regarding an investment property I had and what would be my best solution to a problem as it was becoming more and more of a financial burden. Shannon answered my questions and pointed me in a better suited direction. Very calm, informed and easy to understand. He did not try to get me to agree to services I didn't need rather helped how he could and offered his assistance should I need it in the future.
    - D.H
    "A delight to work with!"
    The group in this office were a delight to work with. If I had a question and called the office which ever one of the group answered the phone they were always answered my question and believe when you are a Senior you have a lot of dump question. I have never worked with a nicer group of people
    - D.C.
    "Goes above and beyond to provide great value for clients"
    Shannon Garrett is my go to referral for Bankruptcy Cases in Topeka. He really goes above and beyond to provide great value for clients. Anyone who chooses Shannon to represent them has made a great choice.
    - J.J
    "Garrett Law is amazing!"
    Garrett Law is amazing! Very professional, kind and educated staff. Going into a bankruptcy is never easy for anyone. I had a very dear friend recently go through it, and used Garrett Law. It was very frustrating and the unknown for him was fearful. After his first visit with them, all of that was lifted off his shoulders. From the pleasant greeting at the receptionist desk, to the legal paperwork, everything was handled with great care. He was never once judged nor looked down upon. They are all truly there to make peoples life better, and they show you how! He is more responsible now, less stressed. It is sooooo great to see that my friend is back and happy! I know he will forever be grateful for all they have done for him and his future.
    - L.R