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21 • How long does bankruptcy take?


Every case is considered individually according to its own details. If it is a second bankruptcy or, if it is a first time bankruptcy with surplus of income or equity in assets the required bankruptcy term will be 21 months. Otherwise, a person who files bankruptcy for the first time is eligible for an automatic discharge in 9 months.

In order to obtain a discharge in 9 months you must:

Provide the Trustee with accurate information about your financial affairs.

Attend a meeting of your creditors, if one is held.

Attend 2 sessions of financial counseling.

Assist the trustee in selling your assets.

When you file bankruptcy, an automatic stay of proceedings goes into force on your debts. Legal action, such as wage garnishees cease.

It is important to receive your discharge, as it is the discharge that releases you from your debts.

When you Overcome Your Debt, You can be Financially Free!