what happens next

[lilkim]

well we go friday the 15th for the signing with the paralegal. i was just wondering what happens next, and how long does it normally take from here to get you 341 meeting.

thanks!!

[Minnymouth]

Hello,

You did not specfy whether you were filing Chapter 7 or 13?

To answers some of your questions....

1. Once papers are signed and recorded at courthouse then you will be notified by your lawyer and by mail of a 341 (meeting of the creditors and Trustee with you). This is usually within 60 days. Last about 5 minutes at the most.

2. After 341 meeting Creditors have 60 days to object to you filing and getting relief from debts. (most of them never do)..

3. If filing Chapter 7 case "discharge" is usually granted in 60-90 days after the 341 meeting in simple no asset cases. Cases are usually closed shortly after this.

4. If doing a Chapter 13 (reorganization) you must submit a repayment plan that has to be approved by the Trustee and Court. And you will be under the "watchfull eye of the Trustee" for 3 - 5 years during the repayment process.

SO SIGN THOSE PAPERS - wait on your 341 meeting, then play the waiting game for about 60-90 days.......... on that discharge notice from the Judge if in Chapter 7.

Most BKs take about 6 months from filing to finish.

Hope this helps take the "scary" out of everything.....sometimes it can all be very nerve wrecking (I KNOW).....

Keep up posted
Minny

[lilkim]

yes we are doing a chapter 7. i can`t wait to get this all behind me!! i have been a nervous wreck thru all this, it took me 2 months just to get my lawyer paid off to get this started.

[Minnymouth]

Just keep it cool, be patient, and don't panic out, and you'll be fine thru all of this.

There is a light at the end of the tunnel, but right now it just seems a long way off for ya.

We've all been there - and their is life after bankruptcy...just takes time to get it all over with.

Good luck,
Minny