Every case is different, and so that means there is no set amount of time that it takes to file for Chapter 7 bankruptcy in Tennessee. However, there are some key averages and things you can expect if you’re going to file, and your case should roughly fall into these parameters. It’s good to know what you’re in for before you begin.
First of all, you should know that Chapter 7 bankruptcy is usually the fastest option, faster than Chapter 11 or Chapter 13. On the whole, it should take a minimum of four months and a maximum of six months. Again, it is not unheard of to have the case take just three months or last for a year, but most cases fall into this four-to-six month range.
Some of the key dates within the filing process are as follows:
— In the first two weeks after you file, you have to present the proper documentation in court. This could include a list of all of your creditors, a general financial statement, and details about your debts and assets.
— Within the next seven to 26 days, you have to go to a creditors meeting. The bankruptcy trustee who is dealing with your case will also attend. It’s usually very fast — perhaps just a few minutes — and the creditors sometimes don’t show up.
— For simple cases that have no significant issues — like suspicion of fraud or complicated debt — the case will then take another 60 to 90 days, on average. If there are complications that are noticed by the court, things can drag on a bit longer.
Source: The Nest, “How Long Does It Take to Complete Bankruptcy?,” Rebecca Lake, accessed July 15, 2015