Important Steps in the Bankruptcy Process
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Regardless of which lawyer you choose to help you with bankruptcy, the timeline is pretty much the same. The guidelines below are for a "normal" case. If you have an emergency we can file your case immediately. Also, sometimes a case will take longer to close because the trustee is holding your case open for some reason.
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Chapter 7 Bankruptcy Timeline
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Day 1:
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Meet with the lawyer, complete the paperwork |
Days 3 - 5:
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Lawyer prepares and files case (all collection activity stops! Hooray!) |
Days 30 - 45:
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Attend the meeting of creditors with trustee and lawyer |
Days 100 - 120:
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Bankruptcy judge signs discharge order and trustee closes case. You're debt free! |
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Chapter 13 Bankruptcy Timeline
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Day 1 :
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Meet with the lawyer, complete the paperwork |
Days 3 - 5:
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Lawyer prepares and files case (all collection activity stops! Hooray!) |
Days 30 - 45:
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Attend the meeting of creditors with trustee and lawyer. Your first
bankruptcy payment is due at this meeting. |
Days 50 - 70:
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Attend confirmation hearing before bankruptcy judge (only if necessary to
resolve any disagreements about your repayment plan) |
Months 3 - 36:
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Mail your monthly bankruptcy payment in to trustee to pay down debts. In some cases your payment plan will extend out as long as 60 months. |
Years 3 - 5
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After you've made the last payment required by your repayment plan, the judge
signs the discharge order and the trustee closes the case. You're debt free! |
