How Will I know my Chapter 7 Bankruptcy is Approved?
If you have filed a Chapter 7 Bankruptcy, the typical amount of time it takes from beginning to end is about 4 months. However, before your case is even filed, your lawyer will have a good idea if your case will be successful and will share that information with you.
About one month after all your bankruptcy papers are filed, you will need to go to your meeting of creditors where you will need to answer questions under oath to the bankruptcy trustee. These meetings have been taking place over the phone since the pandemic, and may soon be shifting to zoom, or video. For cases where all of the assets can be fully protected, the next step is wait for the deadline for anyone to object to the discharge to pass, which is 60 days after the meeting. Generally, there are no objections, as long as the client has answered all questions honestly and fully disclosed all of their finances.
After the deadline passes the Judge will issue your “Discharge” which is the legal document that lets you know that you no longer owe your creditors any money and that your bankruptcy has been “Approved.”
If you are considering filing a chapter 7 bankruptcy the sooner you go over your options with a lawyer, the sooner you can get started on your new life after discharge. Reach out to us today to schedule a time to speak.
Call us today at 508-655-3013. We have offices across Massachusetts. For more information on our office, visit us at ravosalaw.com