How Long It Takes To Complete Your Chapter 7 Bankruptcy Case

How Long It Takes To Complete Your Chapter 7 Bankruptcy Case

By |August 22nd, 2013|

chapter 7 bankruptcy time to finishChapter 7 bankruptcy is remarkably powerful – and incredibly fast.

I’ve always said that it takes longer to decide to file for Chapter 7 bankruptcy than for the case to go through the court system.

For most of my clients, the decision-making process takes months of painstaking soul-searching.

First comes looking at options, then compiling documents and choosing the right lawyer.

Then it feels as if the world moves at double speed. Here’s what I mean.

First, The Meeting Of Creditors

Once the case is filed, the court assigns a date and time for the meeting of creditors. That’s anywhere from 30-45 days after the case is filed.

Then The Deadline To Object

Creditors, the trustee and other people impacted by your bankruptcy case have 60 days from the first date set for the meeting of creditors to object to the discharge or dischargeability of certain debts.

Assuming nobody asks for more time to object, we’re now at 105 days from the date of filing of your Chapter 7 bankruptcy case.

Meanwhile, You Tie Up Loose Ends

You do your financial management certification and make sure the certificate is filed with the court.

If you need to reaffirm a debt, you take care of that as well.

Perhaps you need to amend part of your bankruptcy papers. If so, that’s handled while you wait for the deadlines to run out.

Before You Know It …

The meeting of creditors is over, the deadline to object to discharge runs out, and the clerk processes your Discharge of Debtor.

The whole process can take as little as 4 months to be over and done with.

If the bankruptcy court is exceptionally busy then the clerk may not get around to processing your Discharge of Debtor right away, but it’s all a matter of time.

For the most part, a simple Chapter 7 bankruptcy case is over quickly. That gives you the opportunity to get on with your life right away.

Image credit:  Alain Wibert

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About the Author:

I've been a consumer protection lawyer since 1995, working to help people end their bill problems. I'm a faculty member at the Student Loan Law Workshop, a nationally recognized speaker, and a long-time member of both the National Association of Consumer Bankruptcy Attorneys and National Association of Consumer Advocates.