Chapter 7 Bankruptcy Timeline
Once I have determined that you qualify for Chapter 7, I will give you a list of documents to provide me with so that we can get your case going. I will then prepare your bankruptcy papers, have you come in to verify the information, and sign your papers. I will then file the papers with the County Court. You will then receive a Chapter 7 bankruptcy case number from the Court and will be assigned a Judge and Trustee. Once you get a case number, you are now protected from lawsuits, creditor calls, repossessions, etc.
The Trustee is the person appointed by the Court to look over your case. The Trustee is required to investigate your case and make sure you have been truthful and accurate regarding the information you have disclosed to the Court. In Chapter 7, the Trustee is mainly looking for assets or property you cannot protect or fraud. However, you have a duty to cooperate with their entire investigation. If there are any outstanding issues that need to be resolved then your case may go in front of a judge. This is rare in a Chapter 7 bankruptcy but always a possibility.
The Court will send you a notice with a court date. That court date is typically about 30 to 40 days after you file your case. That court date is MANDATORY. It is called a 341 meeting of creditors. This is an informal hearing where the Trustee or any of your creditors can ask you questions about the information you provided in your case and your financial affairs. Either I or an attorney from my office will appear at this hearing with you. After the 341 meeting, it generally takes 60 to 75 days for the Court to issue a discharge. The discharge is the official Court order that wipes out your debts.
