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How long does bankruptcy last? It may be over quicker than you think. Chapter 7 bankruptcy cases are often over in just a few months. Chapter 13 cases typically take several years to complete, but this time frame is a bit misleading. You won't be in court every month during this time. Instead, you'll have some initial work to start your case, but most months all you'll do is send a check in to the court trustee.
Also, you should get the facts about what a bankruptcy court case means. In most cases, you'll only need to attend a few meetings in court. Unless you're filing as part of a giant corporation, you likely won't need to worry about testifying in front of a jury in a "Law & Order" style court room.
The best way to find out how long your case may last and how many meetings you'll have in a court-room is to speak with a local bankruptcy lawyer. While this video addresses some of the concerns, all state laws are different and you may benefit from getting answers straight from the source.
WOMAN: Bankruptcy Myth: Filing Means a Long Court Case
I am getting so tired of dealing with angry creditors harassing me all the time and frankly being beyond my financial rope.
I would consider bankruptcy, but I don't have the time to deal with a long, drawn out court case. I'm already working extra hours at work. And I may have to pick up a second job on the weekends.
I don't have the time to deal with a bankruptcy case in addition to my bills.
BANKRUPTCY ATTORNEY: Most bankruptcy cases are not long, drawn-out processes. In fact, usually most bankruptcy cases you only have one court appearance, called a meeting of creditors.
The meeting of creditors really is just a situation where the bankruptcy trustee, a court appointed attorney, has an opportunity to ask you some questions to verify the information you provided is accurate.
It usually lasts under five minutes and generally none of the creditors even appear.
If they do appear, it is just to see whether you want to go ahead and reaffirm or agree to repay some of your debts.
Again, the whole process only lasts, usually, about 4 months.
Hm, maybe I was wrong about filing bankruptcy. I'm gonna check out TotalBankruptcy.com to learn more.
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