The Basics of Chapter 7 Bankruptcy in the Southern District of Ohio

Your Dayton bankruptcy attorney can help you file a petition under chapter 7 of the bankruptcy code that “automatically stays” ( or stops) most collection actions against you, the debtor or your property. 11 U.S.C. § 362.  The stay arises by operation of law and requires no judicial action. As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even telephone calls demanding payments. The bankruptcy clerk gives notice of the bankruptcy case to all creditors whose names and addresses are provided by the debtor.

Between 20 and 40 days after the petition is filed, the case trustee will hold a meeting of creditors, or 341 Hearing.  During this meeting, the trustee puts the debtor under oath, and both the trustee and creditors may ask questions. The debtor must attend the meeting and answer questions regarding the debtor’s financial affairs and property.  11 U.S.C. § 343. If a husband and wife have filed a joint petition, they both must attend the creditors’ meeting and answer questions. Within 10 days of the creditors’ meeting, the U.S. trustee will report to the court whether the case should be presumed to be an abuse under the means test described in 11 U.S.C. § 704(b).

After filing the bankruptcy case, but before a discharge will be issued, debtors are required to take a financial management class (in addition to the credit counseling class that is a required BEFORE filing).

In most “no asset” Chapter 7 bankruptcies (explained below), after the meeting of creditors, or 341 Hearing, if no issues arise, the debtor usually receives his discharge within 2 months.

To learn more about bankruptcy, or to discuss your personal financial situation with an experienced Dayton bankruptcy attorney , please contact your Dayton bankruptcy attorney today at Helen Wallace, Attorney at Law by clicking on the preceding link, by e-mail to or by telephone to (937) 654-6800.

The contents contained in Helen Wallace, Attorney at Law’s Blog and Web Page(s) are for educational and informational purposes only, and shall not be construed as legal or tax advice. The reading of Helen Wallace, Attorney at Law’s Blog or Webpage does not create an attorney/client relationship with Helen Wallace, Attorney at Law. Please consult an Attorney in your jurisdiction (where you live or where the legal action arose) if you are seeking legal advice or representation. Please further be advised that Helen Wallace, Attorney at Law is a debt relief agency and helps people file for bankruptcy relief under the United States Bankruptcy Code.

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