about 60 days
Assuming that everything goes according to schedule, you can expect to receive your bankruptcy discharge (the court order that wipes out your debts) about 60 days after your 341 meeting of creditors hearing, plus a few days for mailing.
What happens in bankruptcy after the meeting of creditors?
In most consumer bankruptcy cases under Chapter 7, not much happens after the 341 meeting is done. It’s actually a good thing not to hear anything from anyone (including your trustee) after the meeting. The court will grant your bankruptcy discharge 60 – 90 days after the meeting.
What happens to creditors in a Chapter 7 bankruptcy?
Instead, creditors can only collect through the sale and distribution of assets by the Trustee, as part of the Chapter 7 Bankruptcy process. If you have worked with your attorney to file a Chapter 7 Bankruptcy, you will most likely only have to go to court once. That one time is the Creditor Meeting, also called a Section 341 Meeting.
What happens after the 341 meeting of creditors?
Everyone who files for Chapter 7 bankruptcy must attend a mandatory hearing called the 341 meeting of creditors. But your bankruptcy case isn’t over after attending the hearing. Read on to learn more about what to expect after the Chapter 7 bankruptcy meeting of creditors concludes.
What happens to omitted debt in Chapter 7?
However, in most bankruptcy districts, the omitted debt is discharged if yours is a “no asset” bankruptcy case. A no asset case means that you do not have property that the trustee could take and sell off to pay your creditors. The majority of Chapter 7 bankruptcies are no-asset cases.
How to file a Chapter 7 bankruptcy petition?
File the Chapter 7 Bankruptcy Petition which includes information about the debtor: their address, type of bankruptcy, joint filer and filing fee option. Submit all of the bankruptcy schedules to the appropriate court with filing fees.
