Ch7 Timeline

[ifly2007]

Can someone give me an idea what ch7's timeline? After filing how many days do I have to wait for the 341 meeting and after that what should I expect and how long? Thanks

[BassBoy]

A ggod assesment

15 Days After Your Case is Filed
You have a deadline of 15 days after you file your petition to file certain financial "schedules" with the court-documents declaring your assets, liabilities, expenses, income, and a statement of your affairs. In most case, however, your attorney will file these schedules with your petition.

Approximately 15 Days After Your Case is Filed
Within approximately 15 days after you file your case, the court will mail the Notice of Commencement of Case to you and to all of the creditors listed in your petition. This notice will inform you of the date set by the court for the meeting of your creditors, and the deadlines for your creditors to object to your case and file their claims against you.

Approximately 30 Days After Your Case is Filed
Within 30 days after you file your case, or before the meeting of your creditors if that occurs first, you are required to file a Statement of Intention. In this document, you advise the court whether you intend to keep your property that serves as collateral for your debts, or whether you intend to surrender it to your creditors.

If you intend to keep the property, you must indicate your intention to: (1) reaffirm your debts and continue making all of your payments on those debts; or (2) redeem the property by paying the fair market value for it, in which case you will receive a discharge of debt owed over the fair market value of the item.

You must serve a copy of your Statement of Intention on the bankruptcy trustee and your creditors at the time you file it with the court.

45 days After Your Statement of Intention is Filed
You have 45 days after your Statement of Intention is filed to surrender or keep your property as you indicated in your Statement and make all necessary payments.

Approximately 6 Weeks After Your Case is Filed60 Days After The Meeting of Your Creditors90 Days After The Meeting of Your Creditors
All of your creditors (except for government entities) must file their proofs of claim (these are documents your creditors submit to the court specifying how much you owe them) within 90 days after the first date set for your creditor meeting if they wish to share in the payments from your case if any assets are available for liquidation.

[ifly2007]

ch7 timeline

Thank you so much!