Bankruptcy Timeline

The timeline belows outlines several important dates in the NJ chapter 7 bankruptcy process:

8 years

If you have filed a previous chapter 7 bankruptcy in the last 8 years and received a discharge, you are ineligible to file again. You must wait 8 years between chapter 7 bankruptcy filings if you have received a discharge in the previous filing.

6 years

If you have filed a previous chapter 13 bankruptcy in the last 6 years and received a discharge you are ineligible to file for a chapter 7 bankruptcy. The exception to this rule is if you paid at least 70 percent of your allowed unsecured claims and your plan was proposed in good faith, you will be eligible to file a chapter 7 bankruptcy.

1 Year

If a prior chapter 7 bankruptcy case was dismissed within the 1 year time period of filing the current chapter 7 bankruptcy petition, the automatic stay period is limited to 30 days. This means that your creditors can pursue collection efforts after the expiration of this 30 day time period. The exception to this is if you can prove the chapter 7 bankruptcy was filed in good faith.

180 Days

180 days prior to filing of the bankruptcy petition, you must take a credit counseling course from an approved provider. This course provides debtors with alternatives to bankruptcy and knowledge on how to prevent falling into financial hardship again. Our office provides clients an opportunity to complete this requirement in the office. We recommend using www.cccsinc.org for completion of the course requirement. Please review the links page for a link to all approved providers.

If you fail to obey court orders or you voluntarily request a dismissal, you must wait 180 days prior to filing another chapter 7 bankruptcy petition.

Filing of Your Bankruptcy Petition

We highly recommend that you hire a qualified attorney to file a bankruptcy petition. The bankruptcy laws are very complicated. Your attorney will prepare and file the bankruptcy petition. As a standard practice, we initially obtain your credit report to ensure that all debts are included in your petition. Once we receive the necessary documents from you, our firm will typically file your petition the same day.

The chapter 7 bankruptcy process begins with the filing of a petition with the appropriate New Jersey bankruptcy court. Our firm files all petitions through the NJ court's electronic ECF system. As soon as your case is filed, the court will enter an Automatic Stay order which prevents any collection efforts by creditors. This will put a stop to all threatening calls, letters, etc. The court will assign a trustee to oversee your case and will send a notice to all the creditors listed on your petition to inform them of your filing. You and your attorney will be notified of the date set for the meeting of creditors.

Approximately 6 Weeks After Filing

Currently, in New Jersey, it typically takes about 6 weeks after the filing of your bankruptcy petition to have a date set for the meeting of creditors. Seven days prior to this meeting, you are required to provide the trustee with your tax returns for the previous 3 years and proof of your income. Our firm obtains this information prior to filing and provides the trustee with the information within the required timeframe.

Review our page Chapter 7 Court Hearing for more information on the hearing.

45 Days After Meeting of Creditors

Within 45 days after the first date set for the meeting of creditors, the debtor must complete a personal financial managment instructional course and file the certificate with the court. We recommend using www.123debtor.com for completion of the course requirement. Please review the links page for a link to all approved providers.

Receipt of Discharge

After filing the certificate of completion of the financial management course, the debtor will be granted a discharge of their debts (unless the trustee or creditors object within a required timeframe). The receipt of the discharge signals the completion of the chapter 7 bankruptcy. It typically takes several weeks after the filing of the certificate of completion to receive the discharge.

 

Law Offices of Jay Bhatt

618 Newark Avenue, Suite 210

Jersey City, NJ 07306

Phone: (201) 798-8000

Fax: (201) 798-8001

 

Chapter 7 Bankruptcy Info

Consultation Checklist

Click Below for a complete checklist of items that are necessary to proceed with a chapter 7 bankruptcy. We suggest you bring these to our office during the first consultation or supply them by fax or email if the consultation is done over the phone or via the internet.

Client Testimonials

Thank you for helping my wife and I. You have been an angel in our lives during these tough times. You have given us a fresh start. God bless you.

- Edward S.-

I'm grateful for having you take care of my case. The credit card bills, medical bills and lawsuits were a constant stress in my life. I am so glad that I took the next step. I can finally breathe again.

- Rafael R.-

When I became unemployed, I thought I had no way out. My credit card debts would continue to increase and I was overwhelmed with phone calls from collectors. Fortunately, I found Jay Bhatt who advised me to file for chapter 7. It was the best decision I ever made. He is very knowledgeable, experienced and most importantly he works fast. For a reasonable fee, I got out of my debts in no time. I have gone back to work full time and my previous debts have been discharged. Thanks Jay for your help.

- Ana A.-