Chapter 13 Bankruptcy Timeline Process

How Long Does It Take to File a Chapter 13 Bankruptcy?

Because Chapter 13 bankruptcy is generally based on the repayment of your portion or all of delinquent debt plus any mortgage arrears, car loans and tax liabilities, it takes anywhere between three to five years from the day you file for your debts to be discharged. Our New Jersey bankruptcy lawyers can help you establish a timeline for the Chapter 13 bankruptcy process.

Chapter 13 Bankruptcy Steps

When you come into our office, you can retain our services immediately, for as little as $100. This means our attorneys can help you with whatever questions and concerns you have after your free initial consultation. With the power of our firm behind you, we can also offer some protection from your creditors until we are able to file your bankruptcy petition. You can then inform your creditors that all calls should be directed to us and to leave you alone.

  • The day we file your bankruptcy petition
    • Filing for bankruptcy grants an automatic stay that prevents your creditors from continuing to harass you with phone calls, letters and lawsuits demanding payment and foreclosure actions. It also stops any garnishment on your bank accounts, removes any levies on your bank accounts, and prevents repossession of your car or other property.
    • The courts will assign your case to a Chapter 13 bankruptcy trustee and the date for your meeting of creditors will be set.
  • After your bankruptcy petition is filed
    • The plan for repayment of your creditors must be submitted to the courts if it was not submitted with your original petition. This is the structure for how you will pay back your creditors on a monthly basis over the next 36 months (three years) or 60 months (five years). The plan also includes the lists of your assets and debts and your income and expenditures, as well as current contracts, leases in effect and a statement of your financial affairs. Adjustments to your plan may also be made subsequent to its approval by the courts.
    • The courts send notice to all of the creditors listed on your petition and give them the deadline for objection to your case.
    • You receive notice of the date and time of your meeting of creditors.
  • 30 days after your bankruptcy petition is filed
    • You will attend your meeting of creditors, also known as a Trustee hearing or a 341 meeting. One of our attorneys will attend this meeting with you. The meeting will be short. You will testify to the accuracy of the Chapter 13 bankruptcy petition we filed on your behalf. Creditors are allowed to attend this meeting but it is extremely rare for them to do so.
    • Your first Chapter 13 Trustee payment is due the month after you file. All mortgage payments and other secured payments not included in the plan are due the month after filing.
  • 30 days after your meeting of creditors — Your Trustee has 30 days to object to any of the exemptions listed in your petition.
  • 45 days after your meeting of creditors — The confirmation hearing of your Chapter 13 plan will be scheduled after your meeting of creditors. Your Chapter 13 Trustee recommends approval or rejection of your plan to the bankruptcy court. We work with the trustee if there is an objection to your confirmation. Outright rejections of plans are extremely rare, as long as you are in compliance with the Bankruptcy Code. We make sure you are.
  • After approval of your plan but prior to the discharge of your debts — You must participate in a financial management course. This can be done online or over the phone. The course is designed to educate you about life after bankruptcy and how to remain fiscally sound.
  • Three to five years after your meeting of creditors — If your payment plan has been completed and all of your payments have been made, the bankruptcy court will grant your discharge. The length of time for your payment plan will be determined by your amount of debt to repay, your income available to pay it and other considerations.

Contact experienced personal bankruptcy attorneys with offices in Paterson, Jersey City and East Orange today to find the solutions to your financial problems. Call for a free consultation at 973-677-9000 or 888-827-5493.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.