How Long Does A Chapter 7 Bankruptcy Case Last?
Chapter 7 case begins with the filing of the case and ends with the dosing of the case by the court. If the debtor has no nonexempt assets for the trustee to collect, the case will most likely be dosed shortly after the debtor receives his or her discharge, which is usually about four months after the case is filed. If the debtor has nonexempt assets for the trustee to collect, the length of the case will depend on how long it takes the trustee to collect the assets and perform his or her other duties in the case. Most consumer cases with assets last about six months.
In most Chapter 7 cases, the Debtor receives a discharge within 120 days of the filing of the bankruptcy case. When the Court enters the discharge, Chapter 7 debtors can immediately begin reestablishing their credit. Debtors can expect to begin to receive offers of credit for car purchases and credit cards immediately upon receipt of their discharge. Proper management of your future credit is the key to financial success after a Chapter 7 case is filed.
