Step 1: Initial Consultation with Luh & Associates

Goal: Determine if Chapter 7 is appropriate.

Discuss:

• Income, assets, debts, recent financial transactions.
• Non-dischargeable debts (e.g., student loans, taxes, support obligations).
• Alternatives (e.g., debt settlement, Chapter 13).

Decision Point: If eligible and beneficial, proceed with preparation.

Step 2: Gather Financial Documents

Documents needed include:

• Income documentation: Pay stubs, tax returns (usually last 2 years).
• Asset documentation: Vehicle titles, real estate deeds, bank/investment statements.
• Debt documentation: Credit card bills, loan statements, collection notices.
• Monthly expenses: Rent, utilities, food, transportation, etc.

Step 3: Credit Counseling Course – Pre-Filing

Mandatory requirement. Must be completed within 180 days before filing.

Typically completed online or by phone.

You’ll receive a certificate of completion to file with the petition.

Step 4: Prepare and File the Bankruptcy Petition

Luh & Associates prepares:

• Voluntary Petition (Form 101)
• Schedules (A-J): List all property, debts, income, expenses.
• Statement of Financial Affairs
• Means Test (Forms 122A-1, 122A-2)

Filing fee: ~$338

Automatic Stay: Goes into effect upon filing — creditors must stop collection.

Step 5: Bankruptcy Trustee Assigned

A Chapter 7 trustee is appointed to review your case.

Trustee’s role: Ensure accuracy of disclosures, identify nonexempt assets (if any).

Step 6: 341 Meeting of Creditors (Usually 30–45 Days After Filing)

You must attend — In Nevada, held by phone or Zoom.

Trustee asks questions about:

• Your petition
• Assets, income, recent transfers or payments

Creditors can attend but usually don’t.

Step 7: Trustee Review and Asset Determination

Trustee may:

• Declare your case “no-asset” (most common).
• Administer nonexempt assets for liquidation (less common).

If any property is sold, proceeds go to pay unsecured creditors.

Step 8: Debtor Education Course (Post-Filing)

File the certificate of completion (Form 423) within 60 days after 341 meeting.

Must complete a second financial management course (debtor education).

Step 9: Discharge of Debts (~60–90 Days After 341 Meeting)

Debtor is no longer legally liable for discharged debts.

Court enters a discharge order wiping out most unsecured debts (e.g., credit cards, medical bills).

Step 10: Case Closed

If assets are administered: Trustee completes distribution to creditors, then case is closed.

If no assets to administer: Closed shortly after discharge.