How Long Does It Take To Get A Chapter 7 Bankruptcy Discharge?

How Long Does It Take To Get A Chapter 7 Bankruptcy Discharge?

If you’re filing for Chapter 7 bankruptcy, you can expect the process to take anywhere from three to six months depending on the complexity of your case. But there are a lot of little deadlines in between filing your petition and receiving your bankruptcy discharge.

14 Days after Bankruptcy Filing

If you or your bankruptcy attorney filed a Chapter 7 bankruptcy petition before filing the supporting documentation, you will have up to 14 days to submit your financial schedules to the bankruptcy court. These documents will confirm your assets, liabilities, expenses, income, and any other pertinent financial information.

Once your petition and schedules are filed with the bankruptcy court, you and your creditors will receive a notice of commencement letter, which will include the date of your “meeting of the creditors” and a deadline for creditors who want to object to your case and/or file claims with the court.

30 Days after Bankruptcy Filing

Within 30 days of filing your bankruptcy you must inform the bankruptcy court and your creditors of your intent to keep or surrender property. If you plan to keep the property, you must state if you plan to reaffirm any debt attached to it or pay it off completely.

3 to 6 Weeks after Bankruptcy Filing

You will have your meeting of the creditors three to six weeks after your bankruptcy filing.

30, 60, and 90 Days after Meeting of Creditors

Any creditors who have an objection to your bankruptcy exemptions must express those objections to the bankruptcy court within 30 days after your meeting of creditors.

Any creditors who have an objection to the discharge of certain debts must file their objection with the bankruptcy court within 60 days after your meeting of creditors.

Creditors have up to 90 days after your meeting of creditors to file proof of claims (documents that show the bankruptcy debtor owes them money) with the bankruptcy court.

Once all documentation has been submitted, non-exempt assets liquidated, and eligible creditors paid, you will receive a bankruptcy discharge as long as there are no valid objections from creditors.