How long does it take to file for Chapter 11 bankruptcy?

The amount of time it takes to file for Chapter 11 bankruptcy in California depends on a few factors. Generally speaking, the process can take anywhere from six to eighteen months. You must first consult with a lawyer and figure out if you meet the requirements for filing Chapter 11 bankruptcy. Once the necessary paperwork is completed and the filing is initiated, a case is assigned to a bankruptcy judge who will oversee the proceedings. The court will then evaluate the documentation filed with the court to make sure that it meets all legal requirements for Chapter 11 bankruptcy. The court will also assign deadlines for creditors to file any objections to the petition. Once all of the paperwork is filed and objections resolved, the court will review the petition and take a vote from the creditors. If the petition is approved, a repayment plan will be devised and discussed. This plan will outline when, how, and how much of the debt must be paid over a certain period of time. Lastly, the court must approve the repayment plan, and if it does, the court will issue an order of confirmation that makes the plan legally binding. Once the order of confirmation is issued, the debtor is protected from most creditors. After all of the requirements are fulfilled, Chapter 11 bankruptcy in California is complete.

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