Once you’ve decided to seek a financial fresh start, you no doubt want the process to move as quickly as possible.

Unfortunately, no court case ever moves quickly. And bankruptcy is a court case, not just a matter of filing some routine paperwork.

Here’s what you need to know.

Chapter 7 Bankruptcy

A Chapter 7 bankruptcy can take 4 to 9 months. Here’s the normal sequence of events.

1. You take advantage of one of our free consultations.
2. We work together to make sure we’ve collected all the appropriate information.
3. Your attorney prepares the bankruptcy documents.
4. You attend your consumer credit counseling course.
5. You and your attorney meet to go over your bankruptcy documents.
6. Your attorney files your case.
7. You have your 341 meeting with the trustee and any creditors who show up. Usually, creditors don’t attend, but they always have the option to do so.
8. Assuming everything goes well, the court mails a discharge order and final decree that ends the case.

If the 341 Hearing results in the creditors filing motions about your case, the court may schedule additional hearings. In reality, the vast majority of Chapter 7 cases are routine, assuming the lawyer has handled your case correctly and you’ve told the trustee the truth during the proceeding. 

Chapter 13 Bankruptcy

A Chapter 13 case takes 3 to 5 years. Most of the time, you’ll make payments on your Chapter 13 plan during those years.

Here are the steps.

1. You take advantage of one of our free consultations.
2. We work together to make sure we’ve collected all the appropriate information.
3. Your attorney prepares the bankruptcy documents.
4. You attend your consumer credit counseling course.
5. You and your attorney meet to go over your bankruptcy documents.
6. Your attorney files your case and proposes a plan. 
7. You start making payments on your plan even before it’s confirmed.
8. You attend the 341 hearing.
9. You attend the confirmation hearing. If all goes well, your plan will be approved at this hearing. 
10. Creditors file proof of claim forms to ensure they get paid, and you can object to any proof of claim form. 
11. You continue to comply with your plan for the plan period.
12. You complete an additional debtor education class.
13. The court grants you a discharge and closes your case. 

Get the Fresh Start You Deserve

While a bankruptcy case does take time, it is well worth it once you obtain your financial fresh start.

Ready to clean up your credit and lose some payments? Contact our office to schedule your free consultation today.

See also:

Which Creditors Can Sue in New York? 

How to Prepare for Bankruptcy

4 Ways to Protect Yourself During the Bankruptcy Process