How long does a Chapter 7 bankruptcy usually take to complete?

It takes about four months to have a complete chapter 7 bankruptcy. That's the average time from the moment the petition is filed until the discharge is entered. There's a set pattern of how a chapter 7 progresses.

What to Expect From Start to Finish

Upon filing the petition, the clerk will give you information for the 341 hearing. It will show the date, time, and location of the meeting. This is usually about 45 days after the filing but it will differ from district to district. During the 45 days, the trustee will do their research into your case and verify that everything stated in the petition is true.

After the meeting is over, the trustee will inform the petitioner of how long it will be until discharge, usually at about 45 days. During this time schedules and forms can be amended. If a creditor wasn't included initially, this is the time to make sure they are listed to avoid repercussions in the future. And in the case that there's nothing to be done, it becomes a waiting game. The trustee will enter their judgment of what, if anything, is available for distribution or not and ask to be removed. Discharge will happen at 12:01am of the day after the scheduled date.

Hire a Lawyer for Bankruptcy Assistance

If you're considering filing for bankruptcy, hire a lawyer. Don't do it without one. It's a labor intensive process that requires a lot of information. A lawyer can guide you through the paperwork and ensure that everything gets into the petition.