How Long Until a Bankruptcy Filing Is Completed?

clock and calendar

A common misconception is that filing for bankruptcy may grant you instant financial relief. In reality, you must dedicate a large chunk of time and effort to earn this relief. This is all to say that your bankruptcy proceedings may be more extensive than you initially anticipated. Read on to discover how long it will be until your bankruptcy filing is completed and how a seasoned Rockland County Chapter 7 bankruptcy attorney at The Law Offices of Allen A. Kolber, Esq. can work to ensure you are on track.

What are the steps involved in a Chapter 7 bankruptcy filing?

Every debtor undergoing Chapter 7 bankruptcy proceedings must abide by its mandatory steps. Your having to complete each step may make the process more time-consuming than you would have guessed. Without further ado, the involved steps read as follows:

  1. You must fill out the mandatory Chapter 7 bankruptcy paperwork to its completion, as soon as possible.
  2. You must attend the 341 meeting of creditors, within 20 to 40 days of your filing date.
  3. You may have to provide additional documents if your bankruptcy trustee requests it, which may continue your hearing to another date.
  4. You must file your financial management course certificate, within 60 days of your first 341 meeting of creditors date.
  5. You may expect to receive your bankruptcy discharge if all goes well, within 60 days of your first 341 meeting of creditors date.
  6. You may expect to be issued the final decree and a bankruptcy case dismissal, soon after you receive your bankruptcy discharge.

How long will it be until my Chapter 7 bankruptcy filing is completed?

Generally speaking, if you can complete all the Chapter 7 bankruptcy steps without a hitch, you may expect your proceedings to last anywhere between four to six months. Of note, this timeframe accounts for the date you submitted your paperwork until you receive a final decree. Ultimately, you must immediately respond to minor issues arising throughout your proceedings. This is because minor issues may develop into major ones if not resolved on time. Subsequently, this may cause days’ worth of delays to turn into months’ worth.

On the other hand, if you are pursuing a Chapter 13 bankruptcy filing, you may expect it to last anywhere between one to five months to complete. This is simply based on the differing steps required in this bankruptcy type. However, this does not account for your court-ordered repayment plan. That is, after you complete all the Chapter 13 bankruptcy steps, you may take anywhere between three to five years to complete your repayment plan.

In a way, the best thing you can do to help yourself is to let a competent Rockland County bankruptcy attorney help you. So please, as soon as you are ready, get in touch with us at The Law Offices of Allen A. Kolber, Esq.