Once the meeting of creditors is over in your Chapter 7 bankruptcy case, you’re pretty much done.
You filed for Chapter 7 bankruptcy.
You went for your meeting of creditors.
The trustee closed the meeting.
Here are the loose ends you need to tie up.
If The Meeting Is Closed
If the bankruptcy trustee has no further questions and doesn’t need any other documents, your meeting will be closed. You won’t need to go back to court or appear again.
60 Days To Object To Discharge
Your creditors, the bankruptcy trustee, or anyone affected by your bankruptcy has 60 days from the first date of your meeting of creditors to object to the discharge of an individual debt. They can also opt to object to your bankruptcy discharge as a whole.
Usually, a creditor will let you know well in advance of that deadline if there’s a problem. They’ll send a letter trying to settle any issues, or perhaps just show up at the meeting of creditors.
If nobody shows up to the meeting of creditors or sends you a letter about a potential objection, you’re likely in good shape.
So, too, for the bankruptcy trustee. If there’s going to be a problem, you’ll most likely know about it in advance of the deadline.
File The Financial Management Certificate
Remember, you need to do your financial management certification before your bankruptcy discharge can be issued. Do the course and file the certificate or your case may close without a discharge.
If you’re reaffirming a debt, be sure to get it signed and filed immediately. If it’s not filed before the discharge is entered, it’s not valid and binding.
Review Your Household Budget And Await Discharge
You’re on the verge of your bankruptcy discharge – what’s your life going to look like once it’s all done?
Now’s the time to figure out how to tackle any debts that won’t be wiped out in your Chapter 7 bankruptcy. It’s also a good idea to determine how you’ll allocate your household income to cover your expenses.
Planning for the future will help avoid a repeat of the past.
Image credit: Dougtone
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