How Long Does Chapter 7 Bankruptcy Take?

bankruptcy form with wooden gavel on brown wooden table

When you’re filing for bankruptcy, it can feel urgent due to creditors pressuring you to pay. You just want them off your back as quickly as possible. Luckily, Chapter 7 bankruptcy typically only takes three to four months to complete. There are instances, however, where creditors object or other complications arise, resulting in a much longer timeframe.

Hiring an experienced North Dakota bankruptcy lawyer will ensure that everything goes as smoothly as possible in order to have your debts discharged quickly.

What is Chapter 7 Bankruptcy?

Chapter 7 is traditionally seen as a straightforward way to get rid of debt. Also known as “liquidation bankruptcy”, this type of bankruptcy allows debtors to get rid of a majority of their debts with the requirement of selling some of their assets to pay off unsecured debts. There are a significant number of exemptions to this, meaning that the debtor will never be required to sell everything they own. Once all assets are cleared, the remaining debt is removed.

It’s important to note that there are a handful of debts that bankruptcy will not clear. This includes student loans, child support, student loans, back taxes, fraudulently incurred debt, recent large purchases over $550, alimony, and government fines and penalties.

What Does the Process of Chapter 7 Bankruptcy Look Like?

Prior to Filing Chapter 7

First, you need to compile all of your financial records. This will ensure you know exactly what your debts and assets are and ensures your filing for the proper Chapter. This is imperative to information to have on hand throughout the entire process. Following this, you will have to complete a credit counseling course. This must be done up to 180 days before your official filing date.

Filing Chapter 7

The official start of your bankruptcy is when you file in a bankruptcy court. At this point, your creditors will be notified of the bankruptcy and a bankruptcy trustee is assigned to oversee your case until it is completed. A skilled North Dakota bankruptcy attorney can help you with all of the paperwork and walk you through any questions you may have.

After You Have Filed

Within 15 days of the official filing, you must file completed financial schedules with the court if you did not alongside the initial petition. These detail your expenses, assets, income and liabilities. Around this same time, you will receive a date for your 341 meeting of creditors. At this meeting, creditors will be allowed to ask questions regarding the details of your financial situation. The bankruptcy trustee will oversee the meeting, but oftentimes, creditors opt not to attend and there are no objections.


If there are no objections, your debts will be discharged and the bankruptcy is done. It will be cleared from your credit report 10 years from the date you filed.

Contact Severin Law Firm

Chapter 7 bankruptcy is not something you should face alone. Having an experienced Chapter 7 bankruptcy lawyer on your side will ensure your filing goes smoothly and that all your bases are covered. Give us a call today to find out how we can help!


Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Posts
Social Share

Get a Free Consultation

Choose Our Law Firm, Choose The Best For Yourself

Sat & Sun Closed

Get A Consultation

Contact Us

Office Hours

Sat & Sun Closed