Chapter 7 Bankruptcy Timeline

A chapter 7 bankruptcy usually lasts a certain number of months from start to finish, if there are no issues.  In many cases the greatest cause for delay is the client.  Although many clients are timely in their responses to our questions and requests for documents, some tathan inordinate amount of time to get the information to us.  However once, we have all of their information a bankruptcy petition can be filed in a matter of days.

After a bankruptcy petition is filed, the debtor is required to attend the Meeting of Creditors (aka the 341a meeting) approximately one month thereafter.  Then approximately 2 to 3 months after the Meeting of Creditors, the Dischrage is granted bythe bankruptcy court and the case is closed shortly thereafter.

In total a chapter 7 bankruptcy usually lasts 3 to 4 months from filing the petition.

Of course all of this is assuming that the bankruptcy petition is prepared properly and there are. Oissues with the bankruptcy.

On the other hand, a bankruptcy that is not prepared properly or has significant issues can last for well over a year and have dire consequences.

If you would like more information contact a bankruptcy attorney.