Chapter 7 Timeline

The timeline for how a Chapter 7 Bankruptcy proceeds is as follows:  Day 1 the petition is filed. Then, typically about 30-45 days after the bankruptcy petition is filed and the automatic stay provisions take effect, there is a 341 meeting.  It is called a First Meeting of Creditors in the Bankruptcy Code.  However, most of the time the creditors do not attend.

It is a meeting with the bankruptcy trustee who will review the schedules that have been filed.  If the trustee has no objections, then 30 days later is the deadline for the creditors to object to the exemptions.  The deadline to object to the discharge is 60 days after the date of the 341 meeting.

Most of our clients receive their Discharge Order in the mail about 75 days after the date of the discharge.  One thing to note is that if an inheritance or windfall is received or if the debtor becomes entitled to the same within 180 days after the date of the discharge, then that must be disclosed to the Bankruptcy Trustee.