Bankruptcy Timelines in a Chapter 7 Case

| Oct 2, 2010 | Bankruptcy |

When you file bankruptcy the Bankruptcy Code sets out a number of deadlines.  In a Chapter 7 bankruptcy, the 341 meeting is typically held around 30-45 days after the date that the bankruptcy is filed.   The date that the bankruptcy is filed is a very important day in the case, because the automatic stay goes into effect that day.  That means that no creditor can sue you in a lawsuit, pursue a foreclosure, repossess your vehicle, garnish your wages or continue to harass you without first getting permission from a federal bankruptcy judge to do so.

The deadline for an objection to exemptions is 30 days after the date of the 341 meeting.  The deadline for objections to discharge in a Chapter 7 is 60 days after the date of the 341 meeting.