Already on ArticleSlash?

Forgot your password? Sign Up

Bankruptcy Timeframe From Start to Finish


Visitors: 1,168

Chapter 7 bankruptcy is a process whereby a debtor eliminates the majority of unsecured debt by filing a petition and appearing at a meeting of creditors. The entire process takes approximately 120 days and could require as little as one court appearance. The typical time-frame is as follows:

1) Filing of the petition with the clerk of the U. S. bankruptcy clerk. A notice is sent to all creditors, the debtor, the debtor's attorney and the panel trustee.

2) The 341 meeting of creditors is held approximately four to six weeks after the date of filing.

3) The debtor waits an additional 60 to 90 days until receiving a discharge order. The discharge may be delayed by the panel trustee.

If everything goes well, the debtor's case will last approximately 120 days from start to finish. If a creditor objects, there may be a separate case within the bankruptcy case to determine the dischargeablility of the debt. That case is typically not covered in the attorney's representation agreement. That is because the adversarial case is far more difficult than the total bankruptcy filing in a simple case.

Absent an adversarial complaint, the debtor is well on his way to a fresh start within four to five months at the latest. That means that the debtor can start saving money, can obtain auto financing and can start rebuilding. What may have seemed like an impossible option turns out to be a lifesaver for many individuals. Only an experienced bankruptcy attorney can advise you regarding your rights under the U. S. Bankruptcy Code.

If you need further information about Chapter 7 or filing bankruptcy in general, you should visit the popular blog at - You will learn that bankruptcy can be complicated in some cases and downright simple in most cases.


Article Source:

Rate this Article: 
Trading Timeframe Selection
Rated 4 / 5
based on 5 votes

Related Articles:

Wood Furniture From Start To Finish

by: Simon Douglass (May 05, 2008) 
(Home Improvement/Furniture)

Affiliate Marketing - Start Small Finish Big

by: Martyn Carver (August 26, 2007) 
(Internet and Businesses Online)

Social Security Disability - Start to Finish

by: Becca Rode (September 08, 2008) 

My Article Marketing Process Start to Finish

by: Bry Supknowl (June 15, 2008) 
(Writing and Speaking/Article Marketing)

Finding A Tattoo Supply Vendor From Start To Finish

by: Donald Crabtree (June 16, 2011) 
(Arts and Entertainment)

How Are Video Games Made - The Process From Start to Finish

by: Sean Saunders (September 11, 2008) 

Taking Control of Your Wedding Catering From Start to Finish

by: Amanda Jane (June 11, 2008) 

Curing Lower Back Pain is a Journey From Finish to Start

by: Daniel Wade (July 16, 2008) 
(Health and Fitness/Back Pain)

Security Cameras and "Photo Finish" - Who Got to the Finish Line First?

by: Nahshon Roberts (August 25, 2008) 
(Internet and Businesses Online/Security)

Trading Timeframe Selection

by: Lance Beggs (June 26, 2008) 
(Investing/Day Trading)