Typical Bankruptcy Case Progression
Typical progression of a chapter 7 bankruptcy case:**
- Determine chapter 7 eligibility / Means Testing
- Complete online pre-petition credit counseling course
- File petition
- Creation of Bankruptcy Estate
- Ch. 7 Trustee appointed
- Assignment of date for §341 Meeting of Creditors and Notice sent to Debtor and Creditors
- Meeting of Creditors (usually within 30-45 days of filing)
- Debtor retains exempt property; Trustee may abandon property of no value or very limited value
- Various proceedings possible with regard to property possessed of value or equity
- Distribution of assets
- Complete online post-petition financial management counseling
- Notice of Discharge sent to debtor and creditors (approximately 60 days after the §341 Meeting of Creditors)
- Case Closed
Typical progression of a chapter 13 bankruptcy case:**
- Determination of assets and regular income; Means Testing (presumption of abuse arises for ch. 7 petition)
- Complete online pre-petition credit counseling course
- File petition
- Creation of Bankruptcy Estate
- Debtor maintains all property (whether exempt or not)
- Ch. 13 Trustee appointed
- Ch. 13 Debt Repayment Plan filed
- Assignment of date for §341 Meeting of Creditors and Notice sent to Debtor and Creditors
- Meeting of Creditors (usually within 30-45 days of filing)
- Debtor begins remitting Ch. 13 Plan monthly payments to Trustee (within 30 days of the filing of the Plan)
- Ch. 13 Plan Confirmation Hearing (usually 30-45 days after §341 Meeting of Creditors)
- Proofs of Claim filed by creditors (within 90 days after the date of the §341 Meeting of Creditors)
- Bankruptcy Estate and case remain open throughout the duration of the Ch. 13 Plan
- Complete online post-petition financial management counseling
- Notice of Discharge sent to debtor and creditors upon completion of ch. 13 Plan payments
- Case Closed
**Disclaimer – every case is different and this “typical progression” is provided for general information and not meant as a guarantee regarding the progression or results in any specific case.
