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Mar 26, 2009

What happens after you file Chapter 7 bankruptcy?

Q: What will happen after I meet with an attorneyto file chapter 7. How long does the process take.

A: Once your file
You are given a date of what is known as the meeting of creditors (341a hearing). This is generally 30-45 days from the date of filing. The court will notify your creditors of this meeting and that you have filed Bankruptcy. For about 2-3 weeks your creditors may still call you until they are notified
. During this time you just need to inform them that you have filed Bankruptcy
. Don't worry about the meeting of creditors as it is rare if the creditors ever show up.

At the hearing the Trustee will just ask you if everything you put in your petition is correct. They may also have a few other questions, but as long as you are not trying to hide anything you are fine.

A majority of the time this meeting is over in about 5-10 minutes and taken care of at this first meeting. If so 60 days after this you will receive your discharge.

1 comment:

  1. Once your file
    You are given a date of what is known as the meeting of creditors (341a hearing). This is generally 30-45 days from the date of filing. The court will notify your creditors of this meeting and that you have filed Bankruptcy. For about 2-3 weeks your creditors may still call you until they are notified
    . During this time you just need to inform them that you have filed Bankruptcy
    . Don't worry about the meeting of creditors as it is rare if the creditors ever show up.

    At the hearing the Trustee will just ask you if everything you put in your petition is correct. They may also have a few other questions, but as long as you are not trying to hide anything you are fine.

    A majority of the time this meeting is over in about 5-10 minutes and taken care of at this first meeting. If so 60 days after this you will receive your discharge.

    ReplyDelete