Bankruptcy filings typically come after careful deliberation. You may have been scrambling to deal with your mounting debts for months, only to conclude that bankruptcy is the only option.
With Chapter 7 bankruptcy, all qualifying debt is dismissed in a process known as a bankruptcy discharge. Just as you took time to decide to file, the courts also need time to discharge your debts. But after you've filed, you may wonder just how long the process takes.
Turnaround time probably isn't the only question you have about the filing process. If you're considering Chapter 7, reach out to me at 678-888-1778 or by completing this contact form. I'll be happy to walk through the steps with you.
The Chapter 7 Filing Process
Chapter 7 isn't granted overnight, but the work starts on your end. Before you file, you'll need to complete credit counseling through a court-approved agency. From there, you'll start on the paperwork, which means listing all your assets and income sources, among other details.
After filing the paperwork, the courts will assign you a trustee, who will review the information and eventually meet with you. During this meeting, the trustee will ask clarifying questions that will help as decisions are made about your debts. After this meeting, you'll need to take a debtor education course before the discharge process can begin.
How Chapter 7 Debt Discharge Works
The U.S. Bankruptcy Court manages the discharge process, which starts with reviewing all your paperwork. You'll be notified by mail once a judge grants your discharge, but at that point, the court begins the real work.
Since your debts are being discharged, the court will need to reach out to each affected creditor. Your creditors will be told that your debt has been discharged, and they should not make any further attempts to contact you.
The Bankruptcy Timeline
While most bankruptcies are discharged within four to six months of filing, that timeline isn't guaranteed. The process can face a variety of delays along the way, including errors in the paperwork you submitted. That's why it can help to have an attorney review the documentation before it's submitted.
The courts will also entertain any objections from your creditors. The notice will have a deadline for such objections, and those objections will need to be submitted directly to the bankruptcy court.
It's also important to note that not all your debts will be eligible for discharge. Bankruptcy discharge exemptions include child support payments, student loans, and certain court judgments.
The Craig Black Law Firm and Chapter 7
Four to six months might seem like a long time to wait, but the process can go smoother when you have an experienced attorney on your side. The Craig Black Law Firm has years of experience with Chapter 7 filings and can work with you to make sure your discharge happens as quickly as possible. Give me a call at 678-888-1778 or complete this confidential online form.
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