I know I have already discussed various facets of a Chapter 7 bankruptcy case. But another question I would like to address involves the length of time required for a Chapter 7 bankruptcy proceeding.

Usually a meeting of creditors occurs about thirty days after your case is filed. Then if all goes according to the average process-in other words, a creditor doesn’t contest your case and the bankruptcy trustee doesn’t have any of your assets that must be distributed-your case will be over approximately sixty days after the initial hearing.

Let’s review the usual course of events for a Chapter 7 case.

• First, a forty-five to fifty page petition is filed electronically with the bankruptcy court.
• Second, a trustee will be assigned to your case to review your bankruptcy petition.
• Third, your attorney will send your tax returns and other required financial information to the bankruptcy court and/or to the trustee.
• Fourth, a bankruptcy notice is mailed to each of the creditors listed in your petition by The Bankruptcy Court Noticing Center.
• Fifth, you take the second of your required debtor education courses, which is normally two to three hours long.
• Sixth, your attorney files a certificate of completion when you finish the course.
• Seventh, the 341 meeting of creditors is scheduled for thirty to thirty-five days after Chapter 7 is initiated.
• Eighth, the meeting of creditors is held during which you answer questions from the trustee and any creditors that attend.
• Ninth, the trustee files paperwork with the bankruptcy court that states you have been examined and there is no property to distribute to the creditors, in other words, your property is exempt.
• Tenth, if you have unprotected assets the trustee will collect the property for distribution to creditors at a later time.
• Finally, after approximately one hundred days, if your bankruptcy case has not been contested by any creditor, your dischargeable debts will be wiped out and your case will be over.

If you live in Denver, Aurora, Arvada, Brighton, Broomfield, Commerce City, Englewood, Highlands Ranch, Lakewood, Lafayette, Littleton, Northglenn, Westminster, Wheat Ridge, or Golden, Colorado, please feel free to contact me with any questions.  

Kevin D. Heupel, Colorado Bankruptcy attorney, 303-955-7570, COBankruptcyHelpEmail, free-consultation form.