If everything goes smoothly in your Chapter 7 case, the U.S. Bankruptcy Court will mail a form called “Discharge of Debtor” to you and your creditors approximately 120 days (4 months) after you file.
Archive for the ‘Bankruptcy Q&A’ CategoryThe Chapter 7 trustee is an officer of the court appointed to administer your Chapter 7 case. The Chapter 7 trustee’s duties include conducting the meeting of creditors, gathering any of your nonexempt property of significant value, turning it into cash, using the cash to pay your creditors and ensuring that you perform all of [...] → Read More No. However, about 6 weeks after you file, you must attend what bankruptcy law calls the “meeting of creditors.” This administrative hearing is conducted by the Chapter 7 trustee assigned to your case; no judge is present. An attorney from our office (if retained) will accompany you at the meeting. The trustee asks you very [...] → Read More Yes. The filing of a Chapter 7 case automatically stays or stops most lawsuits and attachments that have been filed against you. Usually with 7-10 days after your Chapter 7 case is filed, the court will mail a notice to all your creditors ordering them to refrain from any further collection action against you. However, [...] → Read More Some of the most common debts that are NOT released by a Chapter 7 discharge are: debts for certain taxes, including taxes that became due within the last three years; debts for obtaining money, property, services, or credit by means of false pretenses, fraud or a false financial statement (including certain debts for luxury goods [...] → Read More It depends. Some financial institutions openly solicit business from people who have recently filed under Chapter 7, apparently because it will be at least eight (8) years before they can file under Chapter 7 again, and their financial situation is better because they have little or no debt. If there are compelling reasons for filing [...] → Read More It is a court order releasing you from all of your dischargeable debts and ordering the creditors not to attempt to collect them from you anymore. A debt that is discharged is one that you are released from and do not have to pay. Some debts, however, are not released by a chapter 7 discharge, [...] → Read More Chapter 7 bankruptcy is the part of the federal banktuptcy laws (Title 11 of the United States Code) that permits you to discharge certain debts by filing a case in the United Bankruptcy court, turning all of your non exempt property over to a trustee. |
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