How Long Does a Chapter 7 Bankruptcy Take?

Deciding to file for bankruptcy can be a stressful decision and one that comes with many emotions. However, once the decision is made, a common question we are asked at The Sikorski Law Firm is how long will my Chapter 7 take?

The answer depends on several factors. Prior to filing your bankruptcy petition, our office works with you to gather all of the necessary information to prepare your petition and related documents. During this time, we need to collect several pieces of documentation from you. Documentation we need includes, tax returns, paystubs, vehicle titles, recorded deeds and mortgages, credit reports, and other items. You also will need to complete an online debtor education class that is required by the bankruptcy court. Once we have all of these items and prepare your case for filing, a time will be set up for you to review the petition and sign it.

An important thing to note is that once your bankruptcy petition is filed an automatic stay comes into effect which essentially stops all debt collection efforts, including garnishment and any lawsuits. All demanding letters and phone calls will cease at this point and may provide relief from a stressful financial situation.

About a month or so after your petition is filed, you will receive a date from the bankruptcy court to attend a creditor’s meeting where the bankruptcy trustee will ask you questions under oath about the information you have provided to them. This is called a 341 meeting and they are currently still being conducted via zoom or telephone.

After your 341 meeting is completed, you will need to attend a second online debtor education class and provide the certificate to the court. Approximately 60 days from the conclusion of your 341 meeting you will receive an official discharge from the bankruptcy court. At this point in a Chapter 7 bankruptcy all of your debt is discharged.

If you are contemplating filing for bankruptcy, please contact one of our experienced bankruptcy attorneys at (734) 422-2377.