Watching the Timelines in Bankruptcy

: Chris Lee Law Firm

  Filed under: Bankruptcy

bankruptcyAs with any law there are a series of timelines that you must be aware of in your Texas bankruptcy. If you are using a bankruptcy attorney which is a wise idea, they will be well aware of these timelines and ensure that all of your requirements are met within these. It is most important to meet the deadlines that are imposed upon you.

The one that is usually most important to the individual going bankrupt is when will the whole process be completed? It usually happens within 180 days of the filing and once you have received your certificate of completion.

You may be given an extension of 14 days for your petition if you are missing information that you need to gather for your case. Within 45 days from your date of filing you will have to have all of your documents submitted for your means test as well as your statements of finances and schedules. You may be able to apply for an extension.

You will be required to submit a copy of your tax return, and this is usually done seven days before the creditors meeting.

There are differences between the Chapter 7 and Chapter 13 bankruptcy when it comes to timelines and this again is something where you will receive guidance from your professional that is assisting you.

While there is a tremendous amount of paperwork that has to be completed with either of the bankruptcy chapters, it is most important that you adhere to the timelines set so there is no delay, which in turn could end up having your bankruptcy dismissed.

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