The first step in the bankruptcy process is the financial management course certified by Form 423, Certification About a Financial Management Course. Once you have it, you need to submit the forms required for the particular Chapter to the bankruptcy court. However, you must know just because you have filed bankruptcy, it does not mean you will not have to pay any money a creditor can fill out Form 410, Proof of Claim, and receive monthly payments from the debtor for years. You will be able to clarify your situation to potential creditors later complete the Bankruptcy Explanation Letter and prove you a suitable for approval for a loan.