How long does bankruptcy take?

Most of my clients have not previously filed for bankruptcy.  One of the most common questions we get is about the general timeline and process for a typical Chapter 7 Bankruptcy.  In general, Chapter 7 is the quickest bankruptcy to complete.  The typical Chapter 7 case is completed within 90 to 180 days of the filing date.  Remember that before you can file a Chapter 7 bankruptcy, you will need to complete your pre-filing Credit Counseling Course from a certified credit counseling agency.  You must also qualify for Chapter 7 by passing the Means Test, which will be completed by your attorney and filed as part of your petition and schedules.

As soon as your case is filed,  a Trustee will be assigned to your case and a “341 Meeting of Creditors” will be automatically scheduled, this is otherwise known as the Meeting of Creditors.  This meeting, generally takes place around 20 to 40 days after the case was filed, and your attorney will attend the Meeting with but you will need to answer the questions asked of you by the Trustee.  (Don’t worry we will have you prepared with the questions long before you get to the hearing.)  It will be conducted by the Trustee assigned to your case.  All your creditors are invited to attend the meeting, however, creditors rarely attend.  At the meeting, you will discuss the paperwork filed in your case.

Creditors have 60 days from the completion of the Meeting of Creditors to file an objection to discharge.  Assuming there are no objections, you should receive your Discharge Order roughly 60 days after your Meeting of Creditors.  Once the Discharge is entered by the Court, your case will be closed and your Bankruptcy will be completed.  Are you ready for a fresh financial start?  call us right now at 801-221-9911 to set up a consultation that will get you on the path to financial freedom.

Leave a Comment