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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17223
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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If I claim bankrupsy now, and qualify for ch 7, then have the

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If I claim bankrupsy now, and qualify for ch 7, then have the creditors meeting later this month, how long is the " term" for the bankrupsy and what happens in that time? Is that when the trustee investigates my claims and after he or she does is that when the judge clears it?

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarification.

WALLSTREETESQ :

After the 341 meeting of creditors, if you have no assets to distribute, withing 3 months you would receive discharge letter, stating that your bankruptcy case was closed and discharged.

WALLSTREETESQ :

At that point your bankruptcy is over.

WALLSTREETESQ :

At the 341 meeting, the trustee will ask you questions regarding your financial history,

WALLSTREETESQ :

and to see if you have any assets to pay creditors, if you do not, then the case would be closed, and the discharge would follow.

WALLSTREETESQ :

If you have any further questions please do not hesitate to ask.

Customer:

Oh, ok, so why does it take so long to recieve a discharge if you have no assets? Thank you!!!

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