We have locations available by appointment in the following areas. Please call us to speak to an attorney and set up an initial meeting.
Chapter 7 bankruptcy offers you the potential for a fresh financial start, but it will not happen overnight. Instead, there are steps every debtor must take to file their case and move it forward before the court will discharge their debts.
If you are considering bankruptcy, it is natural to be curious about what this process might look like. Our firm can answer your questions and guide you through every step of the Grand Rapids Chapter 7 bankruptcy timeline. Reach out to our dedicated attorneys today to get started.
No two bankruptcy cases are exactly the same, but Chapter 7 proceedings generally conclude within a matter of months. Most people are able to conclude this process and discharge their debts within 4 to 6 months of filing. Of course, some factors could cause the process to take longer. If creditors or the trustee oppose your discharge, they could file proceedings that must be resolved before your case can move forward. Our attorneys can answer questions on what to expect from the timeline in a Grand Rapids Chapter 7 bankruptcy.
Anyone filing for Chapter 7 bankruptcy protection in Grand Rapids generally follows the same timeline. The steps in this process include the following:
Before filing, debtors must complete a court-approved credit counseling course within 180 days. This mandatory session is designed to help you identify alternatives to filing for bankruptcy, and it is a mandatory step you must take before you file.
The process begins when the debtor files a bankruptcy petition with the U.S. Bankruptcy Court for the Western District of Michigan. This includes detailed schedules of assets, debts, income, expenses, and financial history. An automatic stay immediately goes into effect, which immediately halts your creditors’ ability to collect debts from you.
After filing, the court assigns a bankruptcy trustee to oversee the case. The trustee’s role is to examine the debtor’s assets, verify the accuracy of the petition, and determine whether any non-exempt assets can be liquidated to pay creditors.
Roughly 20 to 40 days after filing, the debtor must attend a 341 meeting (named after Section 341 of the Bankruptcy Code). The trustee and any creditors who attend can ask questions under oath. It is typically brief and straightforward if the paperwork is accurate.
If the trustee identifies non-exempt property, it may be sold to repay creditors. Most Chapter 7 cases in Grand Rapids are “no-asset” cases, meaning the debtor keeps all property under Michigan or federal exemption laws.
Before discharge, you will also have to complete a second court-approved financial education course. This focuses on budgeting and financial responsibility, and is designed to help you remain on firm financial ground after your discharge.
Roughly 60–90 days after the 341 meeting, the court issues a discharge order, wiping out eligible unsecured debts like credit cards and personal loans.
Answering your questions about the Grand Rapids Chapter 7 bankruptcy timeline is only one of the ways our attorneys can help. We understand how to navigate this process carefully without making the kinds of errors that could put your discharge in jeopardy. Call as soon as possible to discuss your options with our team, or fill out our online debt calculator for immediate insight.
We have locations available by appointment in the following areas. Please call us to speak to an attorney and set up an initial meeting.
We are a debt relief agency helping people file bankruptcy under the United States Bankruptcy Code.
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