What happens once you pass means test? What are the steps in bankrupcy. I read about 341, trustee and other terms , but is there a general pattern of events. Thank you in advance!!
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merime, once you file, you will get a notice telling you when your 341 is. It generally falls about 30-40 days after your petition is filed. Your creditors and the trustee have 30 days after your 341 to object to your exemptions. Creditors have 60 days after the 341 to object to discharge of particular debt. If you are determined to be no-asset, it's pretty much over after the 60 days have passed and you get a discharge (in Chapter 7). If you have assets, the creditors have 90 days from the date of the 341 to file a claim so that they get a part of your non-exempt assets. The government has 180 days to file a claim.
So, if you are looking at a standard, no-asset Chapter 7, you are looking at about 3-4 months from the time of filing to the time of discharge. Of course, so many different variables come into play, the times aren't guaranteed for date of discharge or the closing of the case.Filed pro se, made it through the 341, discharged, Closed!!!
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