August 21, 2020 By:
Every bankruptcy filing is different, and that has an impact on how long it takes to resolve all issues and move forward. There are, however, some general guidelines.
Unless you’re trying to discharge certain types of debt (such as student loans or tax obligations), a Chapter 7 bankruptcy is usually completed in four to six months. However, if you have significant property that must be sold, or assets without a ready market, the process can take longer. Furthermore, if you don’t prepare and file your paperwork accurately, or if the bankruptcy court has questions or concerns about potential fraud or failure to disclose income or assets, the completion can be delayed.
While your obligations under the repayment plan won’t be completed for three to five years, it typically takes approximately three months from the filing of a Chapter 13 petition to final approval of a reorganization plan.
At the Law Offices of Carrie Weir, all potential clients are entitled to a free initial consultation. I am currently communicating with clients by phone, text messaging or videoconferencing. To arrange an appointment, contact my office online or call 972-772-3083. I handle Texas personal bankruptcy filings in Rockwall County, Collin County, Dallas County, Hunt County and the surrounding counties.