First step is getting to the orthopedic surgeon. With a bucket-handle tear, they will likely want to do surgery. They can do two different procedures. The first one would go in and just cut out the torn part and clean it up. This one is great because the recovery is fairly quick (2-3 weeks back to playing ball), but it has long-term consequences.The second one would be to go in and try to sew it back together. This one puts the patient nonweightbearing for up to 6 weeks or thereabouts. The upside of this one is that the long-term health of the knee will typically be better.
Now the patient may have a choice or they may not. Some of it is just up to the doctor and his/her preference, but also sometimes it's torn too badly to sew back together so they have to just snip it.