How Long is the Bankruptcy Process?

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How Long is the Bankruptcy Process?

Post  Admin on Mon Sep 21, 2009 11:24 am

Once a Chapter 7 bankruptcy is filed, it generally takes three months to complete. However, you are protected from your creditors on the day the bankruptcy is filed – they may not repossess your car, foreclose your house, garnish your accounts or take any other collection activity. If all of your assets are exempt, and no one objects, you will receive your discharge from the debts about 60 days after the meeting of creditors.

Timelines for Chapter 13 are different. Chapter 13 cases run between three to five years depending on the circumstances.

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