Bankruptcy Process/Timeline

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Bankruptcy Process in Charlotte

As Explained by a Charlotte Bankruptcy Lawyer

When you need legal advice you can trust regarding your debt relief options, the legal team at Schwilm Law Firm, PLLC stands ready to help. We review your financial situation to find a resolution for handling your overwhelming debt as efficiently as possible in the most cost-effective manner. We use every resource available to achieve your goals. Whether you file a Chapter 7 or a Chapter 13 bankruptcy, we fully explain the process and ensure that you are prepared for each stage in the process. We are by your side from the date of filing your petition to your discharge date.

Understanding How the Bankruptcy Process Works

Every bankruptcy filing is unique, so no two cases are identical. Below is a general guideline of what you can expect when you file a Chapter 7 or Chapter 13 bankruptcy in North Carolina:

  • Attend an approved credit counseling course within six months of filing your case.
  • File your bankruptcy petition, schedules of assets and debts, statement of financial affairs and other paperwork required by the court. If you are filing a Chapter 13 bankruptcy, you must submit a proposed plan of repayment.
  • Attend your meeting of creditors or 341 meeting. This occurs approximately one month after your filing date. You answer questions by the trustee and creditors, if any appear, regarding your filing. Note that this meeting is often the only appearance you are required to make.
  • If you filed a Chapter 7 bankruptcy and no objections to your filing exist, you receive your discharge order approximately three to six months from the date you filed your bankruptcy petition. If you filed a Chapter 13 bankruptcy and your repayment plan is confirmed, you must make your monthly plan payments for the full term of your plan (three to five years) before you receive your discharge order.

Our Charlotte bankruptcy lawyer can provide the guidance and comfort you want when going through the bankruptcy process. With our firm on your side, you can feel confident that the bankruptcy laws and court procedures are being closely followed and your best interests are being protected.

The Bankruptcy Timeline

You cannot pinpoint exactly how long your bankruptcy filing takes because every case is different. Some debtors have creditors who play an active role while others have creditors who never participate in the bankruptcy at all. However, if you file a Chapter 7 bankruptcy and no objections to your discharge are made, you can expect your case to last three to six months. A Chapter 13 plan of repayment must be for a minimum term of three years and a maximum term of five years. Once our bankruptcy attorney has reviewed your individual situation, he can provide you with an estimate for how long your case may last.

Schedule a Free Consultation with a Charlotte Bankruptcy Attorney

If you are considering filing for bankruptcy protection in the Charlotte metropolitan area, our experienced Chapter 7 or Chapter 13 attorney at Schwilm Law Firm, PLLC can answer your questions during your free initial consultation. Call us at 704.567.5252 or contact us online to schedule your appointment. Our office is conveniently located with ample parking.