A Chapter 7 bankruptcy case starts with the filing of a bankruptcy petition states Northbrook bankruptcy attorney. The bankruptcy petition is filed with the clerk of the US Bankruptcy Court and a court date and a case number is issued. The court date is known as the 341 Meeting of Creditors and it takes place approximately 4 to 6 weeks after your cases filed. When you appear at the Meeting of Creditors, you are going to be examined under oath by a trustee whose job it is to determine whether or not you have any assets that could be administered for the benefit of creditors.
Approximately 60 days after that meeting, you will receive a discharge letter from the clerk of the U.S. Bankruptcy Court. The waiting period from the 341 meeting until the discharge is to allow creditors to object to your discharge if they feel they have cause to object. In most Chapter 7 bankruptcy cases, there are no creditors who object and the discharge will, in the ordinary course.
From start to finish, from filing until discharge, a Chapter 7 bankruptcy case takes approximately 110 days. If a case exceeds 110 days, that’s because someone either filed an adversarial complaint against you or the US trustee may have filed a complaint against you to determine whether or not you are entitled to a discharge. In the overwhelming majority of Chapter 7 bankruptcy cases, they and approximately 120 days after the case is filed.