Bankruptcy Timeline

Chicago Bankruptcy Timeline

How Long Will My Bankruptcy Take?

There are different timelines for how long you bankruptcy will take depending on what type of case you file, a Chapter 7 or Chapter 13 bankruptcy. When meeting with our efficient and dedicated Chicago Bankruptcy attorney, we can answer your specific questions. However, below is a summary of what to expect.

Bankruptcy Timeline

Your timeline will begin when you first file your petition with the Bankruptcy court. However, there are a few restrictions that may apply prior to filing that are important. These include:

  • You must be a resident in the state for at least 90 days prior to filing.
  • You must obtain training from a certified credit counseling agency no earlier than 180 days prior to filing.
  • If you have ever filed a Chapter 7 before, you must wait 8 years from the date of your case was filed before you can file again.
  • If you have filed a Chapter 13 previously, you may be eligible to file 2 years after your first case was filed.
  • If you filed for a Chapter 7 previously but now need to do a Chapter 13, you must wait at least 4 years from the date of your Chapter 7 was filed.

After filing, there are certain other actions that must be complied with within set time frames. They are as follows:

  • 15 days after filing for bankruptcy you are required to provide the court with specific information about assets, liabilities, income, expenses and other related financial information. If filing for Chapter 13, you must also file your proposed repayment plan within this time period.
  • 30 days after filing for a Chapter 7 you must file a Statement of Intention, which states which, if any, debts you wish to reaffirm. (Basically, which debts you will keep in order to keep property, such as a car that has a loan still owing on it)
  • 30 days after filing for your Chapter 13 repayment plan with the court, you must make your first scheduled payments on your debts to your Chapter 13 Trustee.
  • Approximately 45 days after filing the court will hold a Meeting of Creditors and assign a Trustee to oversee your case.
  • Government agencies having claims against you, such as IRS taxes, have 180 days from the date of your filing to provide proof of their tax claim.
  • Approximately 3 to 4 months after filing for Chapter 7 your debts will be discharged and your bankruptcy will be finalized.
  • 3 to 5 years after filing a Chapter 13 bankruptcy and having made your payments pursuant to your repayment plan, you will receive a formal discharge from the court. All eligible debts will be discharged at that point.

DON'T WORRY! WE WILL FILE ALL OF THE REQUIRED DOCUMENTS ON YOUR BEHALF!

As you can see, there is a lot involved in filing for bankruptcy. Therefore, we encourage you to contact our experienced bankruptcy attorneys from Law Offices of David Freydin in order to ensure you obtain the best result in resolving your debt problems. 

For a professional and experienced Chicago bankruptcy attorney, contact Law Offices of David Freydin

Our Client Testimonials

    "He Always Returned Our Calls and Emails"
    Deciding to file bankruptcy was not an easy decision. Mr. Glanzer spent a great deal of time with me and my husband discussing the various options available to us. He answered all of our questions and always returned our calls and emails. Thanks to him, my husband and I now have our fresh start. We are so grateful for his compassion and time. I highly recommend him.
    Deborah, Chapter 7 Client
    Chicago, IL
    "Wonderful to Work With & Very Accessible"
    The guys are wonderful people to work with and they are very accessible and always willing to answer any questions you may have no matter how stupid you think they may be. I will definitely recommend they and use them again if needed in the future.
    Chapter 7 Client
    Chicago, IL
    "Forget All the Others, this Firm is the Real Deal!"
    Charles is an excellent attorney. All of our questions were answered and no question was looked at as dumb. They give all their clients their full attention and you don't see that with too many lawyers. Though we have finished our case with them, they still took the time to answer questions that I had afterward. I would recommend them to anyone who is looking for a bankruptcy attorney.
    V and M Natour - Chapter 7 Clients
    Chicago, IL
    "He Took the Time to Explain Everything"
    I so appreciated Mr. Glanzer's patience in helping me through a challenging time. He took the time to explain everything to me very thoroughly to be sure I fully understood. I'm very grateful to have found him and would highly recommend him.
    Chapter 7 Client
    Chicago, IL
    "A Very Hands on Attorney - Patient & Attentive"
    I found Mr. Glanzer to be a very hands on attorney. Anytime I had any questions or concerns I felt very comfortable calling him and he was very patient with answering all my questions.
    Chapter 7 Client
    Chicago, IL

Contact Us Today!

Schedule Your FREE Consultation
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.
  • By submitting, you agree to be contacted about your request & other information using automated technology. Message frequency varies. Msg & data rates may apply. Text STOP to cancel. Acceptable Use Policy

Why Choose Us?

  • We offer a FREE case evaluation to all prospective clients
  • We have two convenient office locations in Chicago
  • We have outstanding reviews from former clients
  • We make sure clients are always prepared for their hearings
  • We aggressively protect clients from creditor harassment
  • We return all calls and emails in a timely manner
  • We will keep you up-to-date about any progress in your case
  • We give every client the personal attention they deserve
  • We have successfully handled hundreds of bankruptcy cases
  • We have over 20 years of experience