How Long After Filing for Bankruptcy Is the Next Step?

By Anna Assad

In both Chapter 7 and Chapter 13 bankruptcy cases, the first step after filing the petition and other documentation is the creditors' meeting. Whether the debtor is filing for debt elimination under Chapter 7 or a repayment plan under Chapter 13 affects how many days pass between filing and the creditors' meeting, at which debtors answer questions about their financial situations from their creditors and the court trustee.

In both Chapter 7 and Chapter 13 bankruptcy cases, the first step after filing the petition and other documentation is the creditors' meeting. Whether the debtor is filing for debt elimination under Chapter 7 or a repayment plan under Chapter 13 affects how many days pass between filing and the creditors' meeting, at which debtors answer questions about their financial situations from their creditors and the court trustee.

Time Between Filing and Creditors' Meeting

The Chapter 7 creditors' meeting is held anywhere from 21 to 40 days after filing the case. The Chapter 13 meeting occurs 21 to 50 days after filing. Federal law allows up to 60 days to hold the creditors' meeting if it is held at a location without regular staffing of those with trustee duties. All petitioners must attend this meeting and answer questions honestly to proceed with the case. Those under Chapter 13 will also make a repayment plan proposal at this meeting.

Get a free, confidential bankruptcy evaluation. Learn More
Get a free, confidential bankruptcy evaluation. Learn More
What Documents Are Required by a Trustee After a 341 Hearing During Chapter 13?

References

Related articles

What Happens After a Trustee Bankruptcy Meeting?

A trustee bankruptcy meeting is a normal part of a Chapter 7 or Chapter 13 bankruptcy process. Some debtors get nervous about attending the meeting, so preparation can help. After the meeting, creditors may have questions or objections, so proceed one step at a time until your bankruptcy is discharged.

Do Creditors Show Up at a Trustee Hearing?

Bankruptcy law attempts to balance a debtor’s need for a way to dig out from overwhelming debt against a creditor’s need for payment, so the process attempts to involve creditors. Creditors have the right to attend a bankruptcy meeting with the trustee and debtor to voice their concerns with the case, but they frequently do not attend.

Can a Wife File Chapter 13 if a Husband's Case Was Dismissed?

Bankruptcy rules permit a person to file for Chapter 13 bankruptcy even if her spouse's individual Chapter 13 case was dismissed. Married couples may choose to file bankruptcy jointly under the same chapter or file their own cases separately, under the same or different bankruptcy chapters. Finally, bankruptcy law allows one spouse to file for bankruptcy while the other refrains from seeking debt relief.

Related articles

In Nevada, How Long Does it Take for a Bankruptcy to Be Discharged After the Hearing?

If you're a Nevada resident contemplating bankruptcy, you may be wondering how long the process will take. Although ...

Tips on Trustee Meetings

Bankruptcies are complicated and involve a lot of steps. For the average person who is going through this difficult ...

Who May File for Chaper 7 Bankruptcy?

Chapter 7 bankruptcy is one possible solution to the problems caused by harassing creditors and the pressure of dealing ...

Personal Bankruptcy Rules Compared Pre and Post 2005

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 made it more difficult for debtors to gain an ...

Browse by category