What is the timeline for filing for Chapter 7?

Dealing with creditors is stressful. When you get to your limit, you hope that you have relief from the situation quickly.

While the process can move relatively quickly, it can still seem like it takes a while to get everything finalized.

Here’s an overview of what to expect when you file for liquidation bankruptcy.

Getting started

When you pursue a Chapter 7 bankruptcy, you seek to eliminate all of your unsecured debt (such as credit cards). For those that meet the requirements, it can be a great relief to move forward from your debt.

One of the most significant steps will be assembling your paperwork so you can file your claim. With good guidance from a skilled professional and a commitment to being thorough, your case can go more smoothly than if your paperwork is incomplete.

Filing for bankruptcy allows the automatic stay to go into effect. The automatic stay prevents creditors from pursuing the debt while the case is open. Completing this step means you can have relief from the phone calls about a debt you cannot pay.

The rest of the process

Completing your bankruptcy will typically take about four months, depending on how you progress through steps, such as:

  • Working with your bankruptcy trustee to verify your petition
  • Filing your statement of intention
  • Attending creditors’ 341 meeting

During this process, creditors will have a time limit for making objections to your case. Once you pass these benchmarks, you will wait for the discharge of your debt and the closure of your case. Often, discharge comes about two months after the 341 meeting, and the discharge removes your legal obligation to pay the discharged debts.

After completing your Chapter 7 bankruptcy, you can begin rebuilding your credit and pursuing a new financial future.

Attorney Brad Hawley

Attorney Brad HawleyAttorney Brad Hawley possesses years of practical experience focused on bankruptcy, civil and criminal defense. He has prosecuted and defended clients in state court, and is a former enlisted member of the United States Army. Brad is driven by his desire to help people that have been hurt by the legal system, and is dedicated to fixing injustices he sees around him. [ Attorney Bio ]

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