How long does it typically take for BK?

[tools2teach]

Typically how long does it take from homework packet to the very end of the BK process? We are filing for chapter 7 and we just finished the homework packet.

[jktrading]

4 months.

[magyar123]

Chapter 7??? And no assetts?? Within a few weeks after you file you will have the 341 hearing. After about 30 days after this hearing the trustee will determine if you have any non-exempt assetts or not. If not then it's another 30 days for creditors to contest the dischargeability of their debts. If none of them do you will get discharged soon after. I filed July 9, 341 hearing was August 14. No assetts. Creditors had until October 16 to *****/holler. None of them did. Received my discharge in the mail October 21. This was in 2004.

[WorkingItOut]

Chapter 7??? And no assetts?? Within a few weeks after you file you will have the 341 hearing. After about 30 days after this hearing the trustee will determine if you have any non-exempt assetts or not. If not then it's another 30 days for creditors to contest the dischargeability of their debts. If none of them do you will get discharged soon after. I filed July 9, 341 hearing was August 14. No assetts. Creditors had until October 16 to *****/holler. None of them did. Received my discharge in the mail October 21. This was in 2004.

I believe he tacked on an additional month because the OP asked about length of time from when they received the info packet. For me it will likely be close to 4 months as well since it took a couple of weeks for me to gather up my documents, pay the attorney, etc. Then another week for the attorney to file. Then add on the 3 months it took you and you are close to 4 months.

[HHM]

For the total process, if you full-pay your attorney when you retain them, a standard, no-asset chap 7 takes about 4 months.

From the time you turn back your questionnaire to your attorney, allow about 3 weeks for your attorney to process and get you in for a final review, once your case is filed, about 3-3 1/2 months.

[myhearts07]

How will this affect someone in foreclosure but filing a chapter 7? Does the automatic stay stop the foreclosure?

[MiSSMaGoo]

The automatic stay temporarily stops them.... what happened and currently still happening for myself is the mortgage files for a "relief from automatic stay" so they can continue the forclosure but it still suspends them for a short period...

[kenshirley]

It all depends on how busy the area is.
We used an attorney for our 7. It took 6 weeks to find one we could afford and get a first meeting.
Ignoring that we were over median at the time for the last 6 months and waited to file a 7 this is what we found here.

Filing to 341 meeting here is running 6-7 weeks here. And it varies state to state and area to area within the states. We just filed. Our attorney told us they are getting a lot busier here but another he did just before ours has the 341 meet on 24 April. He expects us to be around the first week in May, if we are lucky.

Then about 60 days later with no issues you should be discharged of all debts.

[myhearts07]

Thanks to you both. So, with the automatic stay on the foreclosure, is that until the Chptr 7 is discharged? We just turned in the last of paperwork today and have to wait for the final meeting the our attorney and then the 341 meeting. So, when all is said and done, and if everything goes off without a hitch, when the lender start to pursue the foreclosure again, will they have to issue new paperwork and we get served again and have to go to court and then the timeline restarts or will it just pick up from when we got served back in February?

Thanks
Hearts