How long does it take to complete a Chapter 7 Bankruptcy?

In Massachusetts, the length of time it takes to complete a Chapter 7 Bankruptcy depends on various factors and can take anywhere from three to five months. The first step in the process is the filing of a petition with the bankruptcy court. Once the petition is filed, the court will issue a stay order, which prevents creditors from initiating or continuing any attempts to collect payment from the debtor. The court then appoints a trustee to oversee the assets of the debtor and helps to make sure that the creditors are being treated fairly. A meeting of creditors must then be scheduled and held within 40 days following the filing of the petition, allowing creditors to ask questions and raise any objections they may have about the bankruptcy filing. The debtor must also complete a financial management course within two months of the filing and provide all the documents required by the court. After all of these steps are taken, the court will decide whether to grant or deny the petition. If the petition is granted, the court will discharge the debtor from the debt within two months of the meeting of creditors. The entire process can take three to five months on average, depending on the complexity of the debtor’s financial situation and the amount of paperwork required. Ultimately, it is the responsibility of the debtor to ensure that all required documents are submitted in a timely manner and to keep track of the process in order to complete the Chapter 7 Bankruptcy in a timely manner.

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