How long does bankruptcy take?
Letter to “Ask Leon”
We are thinking filing Chapter 7 bankruptcy and have a few questions? How long does it usually take to get discharged, after you have signed your formal petition? How long after you sign your petition do you go to court? After you have fully retained a attorney what right do your creditors have? Can they legally repossess vehicles before the court date? I was just wondering how long the whole process usually takes? Thanks for your time!
Signed M. P.
You can expect a Chapter 7 discharge about three and one-half months after you file the case with the court, and your “Meeting of Creditors” hearing is usually about one month after you file. Before your case is actually filed, your creditors still have all the same legal rights that they always had, such as to file a lawsuit, send you bills, and repossess the collateral on a delinquent loan. However, a 3rd party debt collector, (such as a collection agency) may not contact you once they are informed that you are represented by an attorney; instead they must direct their letters and phone calls to your lawyer instead of to you. The whole Chapter 7 bankruptcy process is usually about four months from start to finish.