“Once it’s clear that you will have to file chapter 7 bankruptcy, it’s helpful to have a general overview of the chapter 7 time line to understand what is expected of you during each part of the chapter 7 bankruptcy procedure.This article will deal with the basic chapter 7 time line, but it is always important to know that every chapter 7 bankruptcy is different due to each debtor’s specific circumstances and your chapter 7 time line might take less or more time, depending on your situation. The first thing you must do before filing chapter 7 bankruptcy is, within six months of filing your petition, attend a credit counseling class at a government approved credit counseling agency.  The certificate you receive upon completion will be filed as part of your chapter 7 bankruptcy petition.The next step in the chapter 7 time line is to take the means test, which determines you qualify for chapter 7 bankruptcy based on your income.

It’s important to realize that these two steps of the time line are mandatory and without proof of each, your chapter 7 bankruptcy petition will not be accepted by the court. The next step in the chapter 7 time line is preparing your chapter 7 bankruptcy petition by filling out all the necessary forms and supplying the supporting documentation. You and your chapter 7 bankruptcy law will submit your petition to the court, and a trustee will be appointed to oversee your chapter 7 bankruptcy.The following step in the chapter 7 time line is fourteen days later, when all your creditors  will receive official notification from the court that you have filed chapter 7 bankruptcy. At this point in the chapter 7 time line, the automatic stay goes into effect and your creditors may no longer conduct any collection actions against you.

The meeting of creditors, where creditors may object to your chapter 7 bankruptcy, is the next step in the chapter 7 time line.If all goes well, the trustee will continue liquidating your non-exempt assets between day 20 and 30 in the chapter 7 time line.You will be reaching the final part of the chapter 7 time line by day 90, when all creditors must have filed their claims on unsecured debts in your chapter 7 bankruptcy.The final part of the chapter 7 time line is between day 60 and day 90, when you will finally receive your official discharge from the bankruptcy judge.