How long does bankruptcy take?
In a Chapter 7 case, once the complete schedules are filed – including the petition and statements of all property, exemptions, debts, statement of affairs, income and expenses – a meeting of the creditors will be scheduled within a few weeks. After that meeting, the Trustee will file a report and either recommend entry of the discharge order, or object to discharge. If no objection is made by the Trustee or any creditor, the entire case can be finished within 90 to 120 days. In a Chapter 13 case, a Plan of Reorganization will be served on the Trustee and creditors and submitted to the Court for confirmation. The Plan will take up to five years to complete. The discharge order will be entered after the Plan has been successfully completed.
