Bankruptcy Attorney | How Long Will My Bankruptcy Take?
Bankruptcy Attorney . One of the most common questions people facing bankruptcy have is how long their bankruptcy will take.
The answer to that question will depend on the circumstances of your particular case as well as what type of bankruptcy you are filing: namely, Chapter 7 versus Chapter 13.
Chapter 13 bankruptcy cases take longer to resolve than Chapter 7 cases and involve different steps along the way.
Chapter 7 Bankruptcy Timeline
Here is a general timeline of a Chapter 7 bankruptcy filing:
Within the first few days. Prior to filing, you will fill out forms about your financial circumstances that your bankruptcy attorney will review. In addition, you must complete a pre-bankruptcy credit counseling requirement with a U.S. Bankruptcy Trustee-approved agency.
Within 10 days. Your bankruptcy lawyer will prepare your bankruptcy petition and file it with the court.
How 30 days after filing. Approximately four to six weeks after filing your petition, you and your attorney will attend the meeting of creditors, also referred to as a “341” hearing. Your Trustee will ask you questions about your bankruptcy schedules to verify the truthfulness of your petition.
60 days after filing. This is the time to file a debt reaffirmation agreement if there are debts you wish to reaffirm.
90 days after filing. During this time, you will complete your second credit counseling course. It can typically be completed online.
90 days to 120 days after filing. You will receive your bankruptcy discharge during this timeframe and your case will be closed.
Chapter 13 Bankruptcy Timeline
Chapter 13 bankruptcies take longer than Chapter 7 filings. Here is a general timeline:
Within two weeks. You will gather a significant amount of information and hand it over to your attorney. Your attorney will prepare your bankruptcy schedules, develop a Chapter 13 Plan, and file the paperwork with the court.
30 days after filing. You will begin making payments to your Chapter 13 Bankruptcy Trustee. In the Northern District of Georgia, the amount is automatically deducted from your paycheck by filing an Employer Deduction Order with the court.
45 days after filing. Like Chapter 7, you and your attorney will attend the meeting of creditors, otherwise known as the “341” hearing. You will be required to verify the truth of your petition.
30 days after your meeting of creditors. Your attorney will attend your confirmation hearing (you likely need not attend) to discuss your repayment plan and seek confirmation of it.
Three to five years after your first payment. When you make your last payment to the Trustee, any remaining dischargeable debts will be cleared and your case is closed. Note: some debts cannot be discharged. -findlaw.com
Call attorney David Pinkston, bankruptcy attorney, for a free consultation today: (904) 389-5880. If you are thinking about #bankruptcy, #chapter13bankruptcy or #foreclosure in the Jacksonville, Florida area, you should call attorney David Pinkston. David is very experienced with all aspects of bankruptcy law yet very personable and easy to talk to. Call Us Today! (904) 389-5880