For those facing financial hardships, you may be wondering how long a Chapter 7 bankruptcy takes to put you into a financial restart. This is typically a relatively quick process but can take some added time under specific circumstances.
In general, Chapter 7 filings take four to six months to complete. However, that time may be extended if:
However, it is important to remember that when you file a petition for Chapter 7 bankruptcy, an automatic stay goes into effect. This means that creditors can not continue any collection activity including wage garnishment, foreclosure, repossession, and creditor calls or letters.
In most cases, filing for Chapter 7 should be straightforward and hassle-free. In those cases, you can anticipate the process lasting less than five months. During the process, you can anticipate a meeting of creditors hearing, supplying any and all additional information needed, taking the financial management course, and then finally, being discharged of your debts.
However, when things get complicated, time may be added to your process along with additional steps.
When your Chapter 7 bankruptcy doesn’t go as smoothly as planned, there may be additional time needed for you to be cleared of debts.
You may experience a:
Other situations which may lengthen your Chapter 7 discharge include:
If you have questions about the Chapter 7 bankruptcy process, do not hesitate to contact the Jones Law Firm LLC., today. We can go over the bankruptcy process and determine if a Chapter 7 filing is right for you. With offices in Reynoldsburg, Ohio, The Jones Law Firm works with clients in and around Columbus and throughout central Ohio.
Contact us today for a free consultation.