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Law Office of Randall A. Fischer P.A. At Stuart

2100 SE Ocean Blvd #203, Stuart,
Martin, Florida 34996
Phone: (772) 463-7737

Randall A. Fischer, P.A.

725 SE Port St Lucie Blvd #206, Port St. Lucie
St. Lucie, Florida 34984-5232
Phone: (772) 463-7738

Randall A. Fischer, P.A. Law Office At Jupiter

1080 East Indiantown Road #104
Jupiter, Florida 33477
Phone: (561) 316-7111

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How long does it take to complete a Chapter 7 Bankruptcy?

How long does it take to complete a Chapter 7 Bankruptcy?

The question seems on its surface pretty simple.  How long does it take to complete a chapter 7 Bankruptcy?  In the perfect world, a Chapter 7 Bankruptcy takes approximately 90 days to be discharged from the date of filing.  The 90 days is contingent on the creditor’s circumstances.  Therefore, provided the petition and schedules are properly and professionally completed upon submission, it takes approximately 90 days to discharge.  This does not mean the debtor will be discharged 90 days from their initial appointment.  Circumstances can and often alter the time frame to file.  The video below discusses the time frame.

There are certain circumstances which might make it difficult to file even when all of the paperwork is available.  Income is the biggest impediment to filing a Chapter 7 Bankruptcy.  The means test is the method to calculate the effective income of the debtor in order to determine whether the debtor/petitioner is eligible for filing a Chapter 7 Bankruptcy.  So when determining how long it takes to complete a Chapter 7 Bankruptcy, you may have to make adjustments to your income to make sure you qualify if your income is too high.  Further, the income is an average monthly income for the previous 6 months.  Therefore, there can be situations where a client does not have a steady income, but receives commissions or is paid by the job which could skew the overall average.  This bubble in the petitioner’s income must move through their income stream until it no longer affects average.

There are other considerations such as the use of credit cards, whether or not the petitioner has previously filed, when, what chapter, and whether or not they received a discharge, whether it is prudent to employ a bankruptcy at certain stages of collection or foreclosure actions, pending collections, judgements, liens, and garnishments.  There are many considerations and that is why it is extremely important to discuss your situation thoroughly, openly and honestly with your bankruptcy lawyer.

If you live in Stuart FL, Port St. Lucie FL, or Jupiter FL, and want to know how long it takes to complete a Chapter 7 Bankruptcy with a Bankruptcy Lawyer, please give my office a call or click here to go to the contact us page and fill out the information.  I will call you within 24 hours of receipt.

Prudence dictates proper preparation.


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