How Will I know my 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.

After your case is filed you will attend what’s called a Meeting of Creditors, where the Trustee appointed to your case will as you questions under oath. Due to the Pandemic, these meetings are currently being held over the phone. This meeting is scheduled when the case is filed, usually about 30 days after the filing. Your attorney will attend this meeting with you.

Sixty days after the meeting of creditors is the deadline for anyone to object to you receiving a discharge. There are limited reasons why someone could object, such as if the person lied on their documents or are hiding an asset. If the person is completely honest with their attorney an objection is unlikely.

After the objection 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.” This means creditors are prohibited from taking any action that would be considered an attempt to collect the discharged debt, including calling, sending bills, reporting the debt as owed on a credit report, and bringing lawsuits.

Here at the MDRF, we are delighted to share with you that every client we have ever filed for Chapter 7 bankruptcy has been “Approved!”

For more information or to see if a bankruptcy is a good fit for you, contact us for a free consultation today.