If I file for bankruptcy how long will it take before debts are discharged?

One question that is foremost on the minds of anyone who has declared or is thinking about declaring bankruptcy is the question of when the debts will actually be discharged, or forgiven, and how long it will take after the initial bankruptcy filing for this to happen.  The answer to this question varies depending on the type of bankruptcy that you are filing, along with the amount of pushback you receive from your creditors over the debts that you are hoping to discharge.  So, what are the steps Chapter 7 bankruptcy process, and how long after you file bankruptcy will your debts be discharged, then?

• As a general rule, in a Chapter 7 bankruptcy, debts are discharged quickly following the set time period for your creditors to file a complaint.
• Usually, debts are discharged within 60 days of the first meeting after filing occurs.  
• In total, this process takes about four months from the date that you filed to the date of discharge.  
• In a Chapter 13 bankruptcy, where a three to five year repayment period is standard, the courts may hold the discharge until you have paid back a sufficient portion of your debts to show that you are keeping with the plan. Thus, four year discharge rates are common among Chapter 13 bankruptcies.

To get help determining how long your bankruptcy may take or which chapter of bankruptcy you are eligible for, you should strongly consider speaking with an experienced bankruptcy attorney in your area.