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What is the timeline for a Chapter 7?

On Behalf of | Oct 11, 2019 | Bankruptcy |

Beginning the bankruptcy process is a daunting experience, especially if you are unsure of what to expect. Understanding the general timeline for a Chapter 7 case can make you feel a little more comfortable. It is always nice to know what to expect when you head into an Alabama bankruptcy court.

The U.S. Courts explains that the timeline begins when you file your bankruptcy petition with the court and pay your fee to file. You will have a little downtime after you file, but during this time, you will need to file various documentation with the court about your finances. Between days 20 and 40, you will have the Meeting of Creditors or 341 (a) meeting. Seven days before this you must submit your tax returns to the trustee in your case.

You will have to meet a deadline 60 days after your creditor meeting to finish your financial management training course and file the Form 423. Depending on how things have fallen so far on the timeline, this is usually 80 to 100 days after you first file your petition.

If you will need reaffirmation agreements with creditors, such as your auto loan lender, you will need to complete and file these around the same deadline 60 days after the creditor meeting.

Your discharge, which is the end of your case, should come around 90 days after your file date. The whole process could take more time, depending on your circumstances. This information is for education and is not legal advice.