How Do All Of My Creditors Know That I Filed Bankruptcy?

We’re going to prepare a bankruptcy Petition for you that’s anywhere from 30 to 40 pages long. We do need your cooperation, but we are going to compile an exhaustive list of all the people you owe money to; that is accomplished in a two-step process. I am going to buy the best credit report in the business; it’s a commercial-grade credit report; it takes the list from all three of the major credit bureaus, Transunion, Experian and Equifax, and puts it on one easy-to-read credit report that I’m going to give to you. And then I’m going to ask you to look at that credit report and make sure that I know about anybody that you owe money to that’s not listed on that report. I’ll make sure everybody gets on the Statements and Schedules and then we have a computer program that puts together a mailing matrix that goes to the Bankruptcy Court. The Bankruptcy Court’s computer then generates a Notice and sends it to all of your creditors very quickly. So all of your creditors will know that you have filed bankruptcy. You are under the protection of the automatic stay which means nobody can continue to contact you, and eventually you will be receiving a discharge so you won’t have to pay any of your unsecured creditors.