Once you made the decision to file Chapter 7 Bankruptcy, you want to know how long does this process of filing Chapter 7 Bankruptcy take. The answer is approximately 4 months from the time you file the Chapter 7 Bankruptcy until the time you receive your Chapter 7 Bankruptcy discharge. But that is the 2000 foot view of the overall process.
When you file a Chapter 7 Bankruptcy you are required to attend a 341 meeting or what we commonly refer to as a “meeting of creditors”. Now, I am not sure why they call it a meeting of creditors because in the vast majority of Chapter 7 cases, no creditors show up for this meeting—a fact that potential clients always find funny. This meeting of creditors is scheduled to take place typically 4-8 weeks after the bankruptcy is filed.
After the meeting of creditors, debtors must wait approximately 60 days to receive their Chapter 7 Bankruptcy discharge. When you couple this 60 day period with the 4-8 week period between the time you file the bankruptcy and your meeting of creditors, you get a total of approximately 4 months.
Now, it is important to remember that after you file your Chapter 7 Bankruptcy, but before you are actually discharged of your debts, you are protected from your creditors by the automatic stay provisions of section 362 of the Bankruptcy Code. Creditors are barred from collecting from you for most debts. Some creditors may continue to collect but it is very few. For example, Child Support agencies may still collect child support from you even though you filed Chapter 7 Bankruptcy.
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