The Bankruptcy Timeline

Guiding You Through the Bankruptcy Process Every Step of the Way

At Allmand Law Firm, PLLC, our Dallas bankruptcy lawyers strive to help our clients through the bankruptcy process as efficiently and successfully as possible. While no two bankruptcy cases are alike, a general timeline does apply in most cases regardless of what Chapter you file under.

Here’s what you should know about how bankruptcy cases typically progress:

  • Eligibility requirements with prior cases. If you have filed for Chapter 7 bankruptcy before and are considering filing a new case, you will have to wait until at least eight years have passed since the date of your prior filing. If you previously filed under Chapter 13 or Chapter 11 within the last six years, you will only be eligible to file under Chapter 7 if you have paid at least 70 percent of your unsecured debt from your previous case.
  • Credit counseling. All consumers are required to complete credit counseling within 180 days prior to filing for bankruptcy under the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA).
  • Beginning the process. The bankruptcy process formally begins when you file a petition with the bankruptcy court. Once you have filed, the court will issue an automatic stay, which will stop all collection actions against you by creditors while your case is pending.
  • Meeting of creditors. After you have filed your bankruptcy petition, you will be required to attend a mandatory meeting of creditors within 60 days. During this meeting, you will have to answer questions under oath about your income, assets, liabilities, and expenses. Your case will then progress based on your unique financial situation and the Chapter you filed under.
  • Receiving a discharge. Because each case is different, there is no set time for how long it will take for a filer to receive a discharge. Generally, however, Chapter 7 filings may be resolved in as little as four to six months, while Chapter 11 or 13 filings may be resolved within three to five years after completing a repayment schedule.

Contact Us for an Assessment of Your Case

As the largest bankruptcy filing firm in Texas with more than 20 years of experience, Allmand Law Firm, PLLC has handled thousands of bankruptcy cases in Dallas, Fort Worth, and the Mid Cities. If you are struggling with debt and are considering bankruptcy, turn to our firm for expert assistance. Our firm’s founder, Reed Allmand, is Board Certified in Bankruptcy by the Texas Board of Legal Specialization, so you can be confident that we have the knowledge and resources to help you regain your financial freedom. Our clients are our top priority, which is why we offer free case evaluations to assess your case and recommend a solution that works best for you.

To talk about your case, filing options, and approximate timeline for your unique situation, please fill out an online contact form and we will be in touch with you promptly.