Filing bankruptcy has the potential of causing a lot of anxiety, especially if you are not familiar with the timeline associated with your Chapter 13 filing.
If you file a Chapter 13 petition, there are a few numbers you need to keep in mind. Chapter13.Me is here to help you navigate through the timeline maze and empower you to make sound choices about your financial goals.
At Chapter13.Me, we can connect you with a nearby bankruptcy lawyer who will assist you with the Chapter 13 bankruptcy timeline. Simply fill out our free bankruptcy case evaluation form or call 1 (888) 632-0504, and we’ll connect you with a local bankruptcy attorney as soon as possible.
180 Days before You File Bankruptcy: Keep in mind that if you had a previous bankruptcy filing 180 before you current filing, it could hinder your current case until the 180 day period lapses. Also, if for some reason you requested a voluntary dismissal of a previous bankruptcy filing, a new filing may not be possible.
90 Days before You File Bankruptcy: If you are filing Chapter 13 bankruptcy, it would be in your best interest to stay put within your current state – for at least 90 days before filing the case. If this is not an option for you, then you are obligated to file in the state where you lived, or where the majority of your assets are located.
15 Days after Your Case is Filed: Congratulations! You have filed your Chapter 13 case! Now, you have approximately 15 days to submit your financial schedules to the court. Information in these schedules include your:
Usually, your Chapter 13 bankruptcy lawyer will be able to submit this information with your petition.
Notice of Commencement of Case: Keeping up? Good. Now, within 15 days after your case has been filed, you will receive a Notice of Commencement of Case from the court. Your creditors will receive the notice as well. The notice will tell you the date your creditors will be meeting and also the deadlines your creditors will have to make objections to your case and file their claims.
30 Days after Your Chapter 13 Repayment Plan Is Filed: 30 is the magic number that begins your payment plan under your Chapter 13 structure. Mark your calendar to remember this one!
6 Weeks (45 days) after Your Case Is Filed:
30 Days after the Meeting of Your Creditors: The bankruptcy trustee and your creditors have to object to all of your exemption claims within 30 days after the conclusion of the meeting of your creditors.
45 Days after the Meeting of Your Creditors: A confirmation hearing will be held to recommend approval of your plan. While your creditors do have a right to object, any kinks in the plan probably would have been worked out by then.
90 Days after the Meeting of Your Creditors: Proofs of claims are due from your creditors.
3-5 Years from the Date of Your First Repayment: Whew! You are now free! Your formal discharge will be issued by the court. Of course, you will have completed your approved financial management course by this time.
At Chapter13.Me, we want to help you win your Chapter 13 marathon to financial security. To receive further assistance, just complete our free bankruptcy case evaluation form or call 1 (888) 632-0504. We will use this information to connect you with a local bankruptcy lawyer from our nationwide network of sponsoring bankruptcy lawyers.
The above summary is not legal advice. Laws may have changed since our last update. For the latest information on bankruptcy laws, speak to a local bankruptcy lawyer in your state.