O is for Obligations in the Bankruptcy Alphabet. When you file any type of bankruptcy, your biggest obligation is to tell the truth. When you sign your bankruptcy petition and schedules, you do so under penalty of perjury. You disclose your assets and their worth along with all of your debts, even those that you intend to repay.
If telling the truth is your biggest obligation, there are others as well. Namely, there are some housekeeping matters. Prior to your case being filed, you’ve got to complete your Pre-Bankruptcy Counseling. Most people choose to complete the Counseling online and it takes anywhere from 30 to 60 minutes to complete. It’s easy, but nevertheless, it’s essential to complete, because otherwise, your case will be dismissed.
Here’s an important tip if you’re facing a possible foreclosure: complete your Pre-Bankruptcy Counseling ahead of time. Your certificate of completion is good for six months. If you wait too long, then your attorney may not be able to file your case properly.
Another obligation is your Pre Discharge Course, otherwise known as the Financial Management Course. It’s a two-hour class, usually completed online, that addresses basic household financial issues such as budgeting and appropriate credit card usage, as well as tips on rebuilding your credit rating.
I’ve written previously about the Section 341 Meeting of Creditors. For many people, it’s a formality and will only lasts about 10 minutes. You and your attorney will answer questions from the Bankruptcy Trustee assigned to your case. The questions will relate to, among other things, your assets and debts, along with whether you’ve made recent transfers of assets.
Here’s more about the Meeting of Creditors: http://www.pittsburgh-bankruptcy-law.com/blog/bid/59144/What-Actually-Happens-at-a-Chapter-7-Meeting-of-Creditors
Objection from Omaha and Lincoln, Nebraska Bankruptcy Attorney Ryan D. Caldwell at http://bankruptcyblog.caldwell-lawfirm.com/2011/11/17/bankruptcy-alphabet-o-is-for-objection.aspx
Objection to Discharge from Hilo Bankruptcy Attorney Stuart T. Ing at http://www.bankruptcyhi.com/2012/01/o-is-for-objection-to-discharge/
Obligations from Colorado Springs Bankruptcy Attorney Bob Doig at http://springsbankruptcylaw.com/?p=1237
Old from Cleveland Area Bankruptcy Attorney Bill Balena at http://ohiobankruptcysource.com/o-for-old/
Omitted from Bay Area Bankruptcy Attorney Cathy Moran at http://www.bankruptcysoapbox.com/bankruptcy-alphabet-o-for-omitted/
Omitted Creditor from St. Clair MI Bankruptcy Attorney Kurt OKeffe at http://stopcreditor.com/oh-oh-bankruptcy-danger-omitted-creditor/
OOPS from Metro Richland Consumer and Bankruptcy Attorney Mitchell Goldstein at http://www.morethanbankruptcy.com/bankruptcy-a-z-o-is-oops.html
Options to Bankruptcy from Suburban Philly Bankruptcy Attorney Chris Carr at http://christophercarrlaw.wordpress.com/2011/12/15/o-is-for-options-to-bankruptcy/
Own from New York Bankruptcy Attorney Jay S. Fleisman at http://www.consumerhelpcentral.com/bankruptcy-alphabet-own/
Objection by Creditor from Southgate Michigan Bankruptcy Attorney Chris McAvoy at http://downriverbankruptcy.com/bankruptcy-blog-2/#axzz1nCk15ydJ
Offer in Compromise from San Mateo Bankruptcy Attorney Jeff Curl at http://www.jclawgroup.com/blog/bankruptcy-alphabet-o-is-for-offer-in-compromise/
Orders from Wisconsin Bankruptcy Attorney Bret Nason at http://nasonlawfirm.com/archives/834
Organize from Marin County Bankruptcy Attorney Cate Eranthe at http://marin-bankruptcy-law.com/855/bankruptcy-a-to-z-o-is-for-organize/
Organization in Bankruptcy from Los Angeles Banruptcy Attorney Mark J Markus at http://www.bklaw.com/bankruptcy-blog/2012/03/being-organized-in-bankruptcy/
Objection at Lakewood California Bankruptcy Attorney Christine A. Wilton at http://www.losangelesbankruptcylawmonitor.com/2012/09/articles/chapter-13/o-is-for-objection/
Objections to Confirmation from Livionia Michigan Bankruptcy Attorney Peter Behrmann at http://www.losangelesbankruptcylawmonitor.com/2012/09/articles/chapter-13/o-is-for-objection/