How Long Does Filing Bankruptcy Take?
Many people who consider filing bankruptcy worry about how long the process will take and how quickly they can get debt relief. The good news is that bankruptcy is a fairly straightforward process, providing temporary debt relief within days and permanent debt relief within months in many cases. The following are some guidelines on how long each step takes:
- Credit counseling: Before you can file bankruptcy, you must complete a credit counseling course. There are a number of approved agencies that can help you meet this requirement by having a 30-minute phone call or online session with a credit counselor.
- Filing your case: As soon as we have all the documents to submit for your bankruptcy filing, we will assemble your petition and file your case. Electronic filing is available for bankruptcy petitions, and our firm works efficiently to get our clients filed quickly.
- Section 341 hearing: About 30 days after your bankruptcy petition is filed, the bankruptcy court will schedule a Section 341 hearing in order to see whether you have listed all of your debts and assets. Our attorneys will be there with you at this hearing.
- Chapter 7 timeline: In a typical Chapter 7 bankruptcy case, all debts that are eligible for discharge are permanently wiped out about two months after the Section 341 hearing. In the meantime, your creditors cannot make any efforts to collect on those debts.
- Chapter 13 timeline: Once the court approves your Chapter 13 bankruptcy repayment plan, you will have to make monthly payments on your debts for 36 to 60 months. If you have trouble making payments under the plan, our firm can help you explore your options.
The bottom line is that filing bankruptcy and obtaining permanent debt relief does not take nearly as long as many people are afraid it will take. With an experienced team of bankruptcy lawyers guiding you through the process, you can make progress toward a fresh start.
Of course, the process will always go more smoothly if you work with experienced attorneys, especially those who take the time to provide personal service and attention.
At our firm, you can rely on the representation provided by attorney Ira D. Gingold, who has been a bankruptcy lawyer and Court-appointed Bankruptcy Trustee since 1971, and Jamie L. Gingold, who has practiced bankruptcy, business and real estate law since 2001.
Bankruptcy Filing Lawyers · Atlanta, Cumming, Dallas, Douglasville, Gainesville
At Gingold & Gingold LLC, we are committed to our clients' success. For a free initial consultation to discuss what we can do to move your case forward, call us at 404-963-9508 (toll free at 877-419-0450) or e-mail us. Evening and weekend appointments are available.