Time It Takes to Complete a Chapter 7 Bankruptcy No Asset Case

The amount of time it takes to complete a Chapter 7 bankruptcy with no assets tends to depend on the person filing. A clock starts ticking the moment that the paperwork is filed and the fee is paid with the court. It's the time before the filing that is important.

Setting A Time Line For Filing

Don't feel like you have to rush in order to get your papers filed. No major changes will happen once you've made the decision to go forward with the process. There are many schedules that need to be filled out and you'll want to have all of the paperwork necessary before even writing out the petition. If you're not sure that you have all of your bills at hand, then consider starting the process at the beginning of the month. As the month progresses, you'll have mailings from most, if not all, of your creditors. Go through your past account statements as well to make sure you're not missing anyone.

The Clock Starts Ticking Upon Filing

A chapter 7 bankruptcy will take about four months from start to finish. The timer starts counting down the moment your papers are filed and the fee is paid. You'll receive a date for your 341 hearing after everything has been accepted. On average, it's about 45 to 60 days before you have your meeting after the day of filing.

341 Hearing To Final Discharge

Discharge will occur 30 to 60 days after your 341 hearing, depending on when you get your post-bankruptcy counseling finished. The actual date will depend on when the judge is performing the hearings to finalize bankruptcies. It's possible that even if you file your counseling certificate within a week of the hearing, you may not see your discharge for another 30 days. It's best to assume that you won't see a finalization until 60 days after the hearing date.

Overall Time From Start To Finish

It takes an average of four months to get from filing to discharge, depending on the court's schedule. Extra time outside of this time frame is entirely up to the filer and how much time they spend preparing.

Legal Assistance

For the best possible outcome, hire a lawyer to assist with your filing. Don't take the chance that you'll miss a filing deadline or not get a schedule filed. An attorney who's done their fair share of bankruptcy cases will have the know-how for getting you from filing to discharge without a hitch. You'll rest easier knowing that there's someone to shoulder the load for you so you can go on with your day to day living.

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