Timeline??? Filed, Dismissed, Discharged, Closed, 341...when and why?

[alo]

In many discussions and in signatures I see these terms (filed, discharged, dismissed, closed...) next to dates. It appears that some have taken over 6 months to get to a 341 while others over 2 years. Obviously everyone is different but I was hoping to get a few explanations of when and why things took place in the process? Was it mostly due to pre-planning? Just trying to see what is ahead of me.

Please indicate Ch 13 or Ch 7, when you first consulted with an attorney, retained an attorney, filed paperwork,...and where you are in the process now. Did you have difficulties/delays along the way, paperwork incomplete or questioned, an attorney that never returned your call,...or was it smooth sailing because you took certain steps...??

Many thanks!

[TheBajan]

We filed a Chapter 13. We began talking with attorneys in the spring of last year. We found the atty that we retained in June and we actually retained him in December. You can see in my sig the timeline of events and it all went like clockwork. Every case is different and the individual nature of your case, coupled with the trustee in your area and the lawyer you choose, will be a huge part of how smooth things go.
Welcome!

There are some things you can do to help make it smoother. First, learn as much as you can about the process as it relates to your state and your situation. Talk to several attorneys (free consultations) and don't retain anyone until you are sure you understand the process and are comfortable with their expertise and willingness to respond to your questions. Having the right attorney is HUGE. You can't pick your trustee or the court but you can pick your atty so be diligent and make sure he/she is willing to go to bat for you.

Once you understand the specific issues related to your case, begin a strategy to deal with them so that when you file, there won't be any surprises. Don't do anything that can be construed as fraud or that will raise flags with the trustee. If there are already issues, discuss them in detail with your atty and deal with them before filing.

Sometimes, it seems to me, that in certain areas, it just takes longer to go through the process. Fortunately, in my case, it didn't. Here in Michigan, we make payments from the get-go but the plan doesn't start until after confirmation so the longer it takes to get confirmed, the more payments we have to make. That seems to be unique to my state. At least, I haven't heard of any other states that begin at confirmation. Most plans begin at filing.

Cheers,
The Bajan

[frogger]

It appears that some have taken over 6 months to get to a 341 while others over 2 years.

Many thanks!

A 341 meeting will be auto-assigned when your case is filed, and it will be somewhere around or after the 30 day mark. You may have a 2nd 341 meeting if everything is not completed at the first one, but that is rare.

The 6 months to 2 year dates are not for 341 meetings.

On a chapter 7, you should discharge around 60 days after the 341. Closing could take longer, depending on what assets you may have that need to be dealt with.

Pretty much however, everything is on a time schedule.

Study, study, and learn.

Bankruptcy is a process that has timelines and schedules. Bankruptcy however, is not an event.

[alo]

Thanks, Frogger and The Bajan.
So is the natural (or the most common) order of the process...

1 - Consult with Attorneys
2 - Retain an Attorney
3 - Pre-Planning Period (Collecting Info)
4 - Prepare Paperwork and Forms (6 months data / as attorney advises)
5 - File for Ch 7 or Ch 13
6 - 341 Meeting (about 30 days after filing)
7 - Discharge or Dismiss ***
8 - Confirmation (after no creditors come forward - 60 days?)
9 - Close (after assets sold off for Ch 7)

If this were a flow chart, I have a feeling there would be a lot of back tracking (if this then this) arrows!!
But I guess I am trying to understand the basic (and most straightforward) route.
Does it differ much between Ch 13 and Ch 7??

[frogger]

Thanks, Frogger and The Bajan.
So is the natural (or the most common) order of the process...
1 - Study, study, study BK Forum and posts.
2 - Pre-Planning as much as possible.
3 - Consult with Attorneys
4 - Retain an Attorney
5 - Final PlanningPlanning Period (Collecting Info)
5 - Prepare Paperwork and Forms (6 months data / as attorney advises)
6 - File for Ch 7 or Ch 13
7 - 341 Meeting (about 30 days after filing)
8 - Discharge or Dismiss ***
9 - Confirmation (after no creditors come forward - 60 days?)
10 - Close (after assets sold off for Ch 7)

If this were a flow chart, I have a feeling there would be a lot of back tracking (if this then this) arrows!!
But I guess I am trying to understand the basic (and most straightforward) route.
Does it differ much between Ch 13 and Ch 7??

Reworked that a little for ya.

[HHM]

Both chapter 7 and 13

1. Decide to File Bankruptcy
2. Debtor does preliminary research to understand BK
3. Consult with Attorney
4. Select Attorney to Hire
5. Provide Attorney with Financial Information
6. Pre-Planning, address any issues or problems.
7. Prepare and Finalize Petition
8. File Bankruptcy.
9. 341 Meeting of Creditors.

For chapter 7...
10. Dismiss or Discharge (from case filing, step 8, to this point, it takes about 90-120 days)
11. Close

For Chapter 13
10. Objection to Plan Confirmation filed by Trustee
10.5. potential dismissal
11. Attorney negotiates with Trustee to resolve issues.
12. Plan Confirmation (from case filing to this point, takes on average 90-180 days).
13. Discharge (or dismissal or conversion)
14. Close.

[salsa]

1. Consulted a number of attorneys, summer/fall of 2011.
2. Retained attorney January 2012
3. Filed Chapter 13 June 28th.
4. 341 held on 08/21
5. Plan confirmed 09/06

Nothing was questioned in our paperwork. Had to cut a few expenses in order to pay mortgage arrears, 2 vehicles, IRS and state taxes, attorney fee and trustee fee. 0% to unsecured.

My biggest advice is to pre-plan, pre-plan, pre-plan. We were able to sell assets, use for things like downpayments on 2 vehicles, pay monthly bills, etc. Nothing was questioned. I kept detailed notes of where the money went, and the trustee never asked to see them. All the things I feared, never happened.

[ksgirl38]

Ch 7

Started consulting attorneys in May.
Hired attorney mid June
Filed 7/23
341 on 8/21
Waiting for discharge.

[GAWildcat]

Chapter 7

06/13/12 - Consulted Atty
06/27/12 - Filed Chapter 7
07/26/12 - 341
08/23/12 - Second 341 (Atty paperwork mistakes - we didn't have to go)
09/24/12 - Last day for objections

Waiting for discharge...any second now. If the Georgia 62 day timeline from 341 meeting holds up, it should come tomorrow!

[basketsbears]

Hi and welcome to forum. Here is our timeline.

2009 - Thought about filing BK, but decided to go credit counseling repayment instead, we did consult 2 different attorneys
Fall 2011 - Decided to file BK, consulted attorneys
Jan. 2012 - Retained attorney
June 2012 - Filed Ch 7
Aug. 2012 - 341
Sept. 2012 - UST withdrew presumption of abuse
Oct. 2012 - Anticipate discharge/close of BK

This forum has been a great help. Be sure to use the "search" feature on this board too to check on topics you may have questions on too. There is a lot of support here.

Also, take time to find a great attorney. I feel our attorney has gone above and beyond helping us understand our options, answering all my questions and having everything together. I have looked at the forms, and they seem pretty straightforward, so it may not seem difficult to file pro se, but her knowledge, advice and knowing the trustees has been priceless.

Good luck!

Lynn

[jcsawyer]

when you first consulted with an attorney, retained an attorney, filed paperwork,...and where you are in the process now. Did you have difficulties/delays along the way, paperwork incomplete or questioned, an attorney that never returned your call,...or was it smooth sailing because you took certain steps...??

Got foreclosure notice June 6,2012
Consulted attorneys in July 2012
Retained attorney July 2012
Fired modification attorney- August 2,2012
Filed chapter 13- August 22,2012
Made first payment- Sept 20,2012
341 Meeting- Oct 2,2012
It has gone smoothly so far,probably because of how anal retentive I am about keeping records, that's not to say that there wont be bumps in the road as we have only 4 claims made out of 36 so far. Just waiting on those claims to go through and see how well this plays out for us. Good luck and keep your head up!