How long does the bankruptcy process take?

For Chapter 7s, once the filing is made, an automatic stay prevents further collection activity against you, with a few exceptions, such as child support proceedings. You will have a creditors meeting the following month, and you will get your discharge within three months of the creditors meeting. For Chapter 13s you will have a creditors' meeting and a plan confirmation meeting. Once your plan is confirmed, you will be required to make monthly payments to the Chapter 13 trustee for a minimum of three years, maximum five years, and receive your discharge upon completion of your payments.


For either chapter 7 and chapter 13 you will have to get a second certificate — known as a financial education or debtor education certificate — from one of the court approved credit counseling companies proving you took a class (online, by phone, or in person). We will file that certificate with the Court for you.

Bankruptcy Information

Bankruptcy is a legal term to formally identify an individual as bankrupt. It refers to the inability of any debtor or organization to pay their creditors. In majority of the cases, bankruptcy is initiated by debtors or organization themselves.

New Bankruptcy Laws?

There is now a new law for bankruptcy that was passed called the "Bankruptcy Abuse Prevention and Consumer Protection Act". People struggling to pay their credit debts are now going to have to deal with this new bankruptcy law.



Bankruptcy Can Stay On Your Credit Report For 10 Years

The new bankruptcy legislation, which took effect on Oct 17, 05, has made the process of filing for bankruptcy a more laborious task, for attorneys and debtors. Of course, that's one side of the coin and the shift is undoubtedly geared towards benefiting the end customer; the debtor.