How long a bankruptcy filing can take depends on a few factors, but we do know one thing. The process is easier when you have an experienced Rockland County Chapter 7 bankruptcy lawyer on your side. If you are considering filing for any type of bankruptcy, you should schedule a consultation with our team first.

How Long Should My Chapter 7 Bankruptcy Filing Take?

Chapter 7 bankruptcy, also known as a liquidation bankruptcy, is usually the quickest process. You file and 28 days later you have your meeting with creditors and the bankruptcy trustee, although usually the trustee is the only one there. 45 days after filing, you have to go through a financial management course. This is a pre-requisite to getting any debt discharged.

After 70 to 90 days, you should get a message about your debt being discharged. The bankruptcy filing is not technically complete yet, but your obligations have been met. The process could go on for a few more days as the trustee reviews claims and converts assets into cash.

How Long Should My Chapter 13 Bankruptcy Filing Take?

In Chapter 13 bankruptcy filing, you make a payment plan and agree to pay off creditors over time. You can file and then go to your 341 meeting with creditors approximately 28 days later. Then you work on a payment plan and within 90 days you’ll learn if it is acceptable to creditors. If it is, the plan gets finalized and you pay off your debts over the next three to five years.

So technically this process takes longer, but you won’t have to worry about going in and out of court constantly. Your obligations are just to keep making your monthly payments and to submit your tax returns each year.

What Can Make a Bankruptcy Filing Take Longer?

There are a few things that can make a bankruptcy filing take longer to wrap up. You could be delayed if:

  • You don’t provide all the needed information or documents
  • You are involved in a lawsuit related to the bankruptcy
  • A creditor has an objection to your plan
  • The bankruptcy trustee is going to have to sell off any property

Do I Need an Attorney?

You are not required to hire an attorney, but we recommend it. Bankruptcy is a complicated process and there is a lot of paperwork involved. Making mistakes can delay the process and cause other headaches. Having an experienced professional by your side can be quite beneficial.

Schedule Your Consultation Today

When you are ready to file for bankruptcy, contact the Lauterbach Law Firm. We can take a closer look at your situation and help you figure out if this is the right move for you. Contact us today.