How long does it take to 'discharge' a Chapter 7 bankruptcy?

[AzDar]

Does anyone know?

[ixion]

1. 7 years, I believe

but I could be wrong. :shrug:

[Wickerman]

2. look up Chapter 7 bankruptcy "your state"

in google. I believe there are varying rules. But, of course, I am not sure and I'd doubt whatever you hear on a message board. :D

[AzDar]

4. LOL...you are probably right. Troublesome thing is, since this new

"reform" has passed, I'm getting different answers from different B.K. attorneys here in my State (AZ).I don't think even THEY can figure it out.

[carolinalady]

3. a couple months- see below

we filed chapter 7 a few years ago in august and it was discharged in January. It might take a little longer right now because of the huge volume of filers before they changed the law.

[BiggJawn]

Did you get inundated with offers to sell you a car then?

I sure did. Of course, now that's it's been almost 7 years since the Ch. 7 was discharged, all I get are pre-approved credit card offers.

[carolinalady]

11. No but it wasn't long before I started getting the old credit card

offers as well . My husband and I throw them away. We recently bought a car and I found out that my credit rating is already back up to 687. I could not believe it. It will be 3 years This August since we filed.

[NMDemDist2]

15. I got tons and still get a few 18 months later.. n/t

[AzDar]

6. Thank you! Need to make a decision, and it's very difficult when

all the info (even from attorneys!) conflicts.

[rusty_parts2001]

9. Bankruptcy Discharge

Creditors have 60 days from the meeting of creditors to file objections. Assuming no objections are filed, a discharge usually follows within the next 30 days. From the filing to the discharge, it typically takes 5 months for a case to be completed.

[NMDemDist2]

12. welcome to DU rusty_parts2001!

:hi:

[warrens]

5. Chapter 7 is virtually impossible now anyway

Basically, once the judge approves a Chapter 7 filing, it is "discharged." If you mean, how long before you can file again, it's seven years. But the new BK bill makes it nearly impossible to go Chapter 7 if you have any income.

[AzDar]

10. In Arizona, they go by "median income"...which I can just squeak under..

if I hurry!

[NMDemDist2]

7. hell, I'm already 17 months into payments on my Chap 13 and I dont

even have a signed agreement yet....

they are REALLY backed up in BK court these days

edit to add, I have an excellent BK attorney who's a solid Democrat too, PM me if you need his name.....

[AzDar]

14. I went 13 originally (2003) ; after 9 months of having the Trustee

bump my plan payment up to eventually having it become almost as much as my mortgage,I dismissed it. Now 7 seems like the way to go; I just wish I had figured this out before October of last year!

[NMDemDist2]

16. with the news my business is closing, I may have to do the same

we'll see.....

[AzDar]

17. I am sorry to hear that. I hope you make it through,especially so

far into it.

[lonestarnot]

8. This is not legal advise, but it stays on your credit record for 10 years.

[carolinalady]

13. see my post #11 above

[sarcasmo]

19. ON a credit report when does a charge off fall of is that 7 years too?

[carolinalady]

20. I do not know but they look at your credit score. A few months

after our bankruptcy was discharge we had a credit score of zero-meaning no record. Now less than 3 years later-my score is 687. Over 700 is considered "excellent credit".

[lonestarnot]

21. Not legal advise again but yes 7.

[FloridaPat]

18. Mine was done in 5 months too. I've heard 60% of the Chap 13

don't make it through the 3-5 years. I imagine it will be worse now.