Bankruptcy Timeline
Professional Chapter 7 and Chapter 13 Litigators
Pre-Bankruptcy Filing
180 days prior:
- Bankruptcy filers must complete credit counseling
90 days:
- Bankruptcy filers must meet residency requirements (must reside in state in which they plan to file for bankruptcy for at least 90 days).
60 days:
- Any new debts that bankruptcy filers incur will be considered non-dischargeable. These debts will not be covered by bankruptcy proceedings and will have to be paid by the bankruptcy filer.
Day of Filing
Bankruptcy filers must submit their bankruptcy petitions for Chapter 7 and Chapter 13 to the bankruptcy courts.
Post-Bankruptcy Filing
15 days:
- Filers must submit schedules and proposed repayment plans if they are filing for Chapter 13.
18 days:
- The bankruptcy court will send a Notice of Commencement to filers’ creditors.
6 weeks:
- Filers will have to attend a mandatory meeting with their court appointed trustee and creditors. The meeting will usually take 30 minutes. Seeing the meeting is mandatory, people who do not show up will have their cases dismissed.
After Meeting:
30 – 60 days: if creditors do not object to terms, people who have filed for Chapter 13 will begin to repay their debts. People who have filed for Chapter 7 will have their debts discharged.
Arizona Bankruptcy Lawyers
If you are having a difficult time keeping up with your financial obligations, now is the perfect time to review your options with an experienced Arizona bankruptcy lawyer, like the lawyers at The Arizona Bankruptcy Law Firm.
The Arizona Bankruptcy Law Firm is committed to helping individuals throughout the state of Arizona file for Chapter 7 and Chapter 13 so they can get out of debt quickly.