How long does it take for the bankruptcy filing to be finalized?

The length of time it takes for a bankruptcy filing to be finalized depends on several factors, such as whether the debtor has received credit counseling, the type of bankruptcy that has been filed, and the court processing times. In Maryland, Chapter 7 bankruptcy typically takes between four to six months to be fully processed and finalized. The time period begins when the debtor files for bankruptcy. This is known as the “petition date.” The court then holds a meeting of creditors, which is typically held about 30 days after the filing date. After this meeting, a trustee is appointed who will review the debtor’s assets and debts. The Trustee has 60 days to review the petition and determine if any assets can be sold to pay creditors. Any objections from creditors must be resolved within this period as well. Once the debtor’s assets have been reviewed and any objections resolved, the court will usually issue a discharge order within 90 days. This order releases the debtor from their debts and completes the bankruptcy filing process. The process can be longer if the debtor has not received credit counseling, or if there are objections from creditors that are not quickly resolved. Overall, however, Chapter 7 bankruptcy filing can usually be finalized in four to six months.

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How long does it take for the bankruptcy filing to be finalized?

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