How Long Does a Chapter 7 Case Last?

If you are trapped in debt and your income is below the median, you may be able to file for Chapter 7 bankruptcy. This process will allow you to eliminate certain types of debt and resume life without the stress caused by years of accumulated debt. Should filing for bankruptcy be in your best interest, it is important to be aware of the nature of the situation, especially the amount of time this type of case will take.

The element of a bankruptcy case that most people focus on is the discharge—the time when they are relieved of various types of debt. This part of the bankruptcy process is the most tangible form of relief. In most cases, it takes three to six months from the time a person files for Chapter 7 bankruptcy to the time when their debt will be discharged.

When does my bankruptcy case actually end?

Unfortunately, a discharge of debt does not close a bankruptcy case. Before your case is closed, you must liquidate non-exempt assets to pay your creditors and see all other legal matters resolved. This process can take years in complex cases.

After you have resolved the legal conflicts associated with your debt, your case will be closed with a Final Decree. Whether it takes three months or several years, the Final Decree ensures that, except in the event that your case is reopened, you are no longer obligated to pay your debt.

Seek Experienced Counsel!

If you are overwhelmed by your debt, the Detroit Chapter 7 attorneys at our firm can help you make the proper decisions to minimize and/or repay your debt. With over 30 years of combined service, we have helped more than 10,000 clients get back on their feet after facing immense debt. We are ready to help you determine if filing for bankruptcy is right for you. Contact our firm, the Law Offices of Marshall D. Schultz, to schedule your free consultation!

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