What is the Chapter 7 Bankruptcy Timeline?

In the United States, a Chapter 7 bankruptcy is also known as a liquidation bankruptcy. This is the most common type of bankruptcy filed in the US. If you are considering filing for Chapter 7 bankruptcy, it is important to understand the timeline and process.

Chapter 7 bankruptcies usually take between four and six months to complete. The first step is to file a petition with the bankruptcy court in your district. Once the petition is filed, an automatic stay goes into effect. This means that creditors must stop all collection attempts during the bankruptcy process.

Next, you will need to attend a meeting of creditors. During this meeting, creditors can ask questions about your finances and assets. You will also need to complete a means test to see if you qualify for Chapter 7 bankruptcy relief.

If the court grants your discharge, all of your qualifying debts will be wiped out.

The Law Offices of Omar Zambrano has been helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

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