Chapter 13 Bankruptcy Timeline

If this is not the first time when you are reading about Chapter 13 Bankruptcy you already know that when filling for Chapter 13 you need to establish and follow repayment plan. This plan can last form 3 to 5 years .Even if the plan is for a big period of time you need to know that the court procedures are simple and pretty straightforward.

Also you need to know that you are not eligible for discharge under Chapter 13 bankruptcy if you received a discharge under Chapter 7,11, or 12 in the previous 4 years. Also you are not eligible if you received a Chapter 13 discharge in the previous 2 years.
Here is how a Chapter 13 Bankruptcy timeline looks.

1. You fill the case
The bankruptcy process starts when you fill the bankruptcy petition with the appropriate bankruptcy court. Once the petition is filled the court will give an Automatic Stay order. This means your creditors must stop calling you or harassing you in any way.

2. Creditors are announced
The bankruptcy court will send a notice to all the creditors listed in your petition announcing that you started the bankruptcy process.

3.The Trustee
The Bankruptcy court will assign a a trustee to oversee the case.He will review your case, check if you are eligible for bankruptcy and arrange meetings between you and your creditors.

4. 15 days after
15 days after you fill the case you need to fill some court-documents and declare your assets, expenses, income etc. If you use a bankruptcy lawyer he will handle this part. Also in this period you make the repayment plan.

Chapter 13 Bankruptcy Timeline

Chapter 13 Bankruptcy Timeline part 2

Chapter 13 Bankruptcy Timeline part 3