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Most Chapter 7 bankruptcy cases in New Jersey take approximately 3 to 4 months from the date your case is filed until you receive your discharge, assuming there are no unexpected issues.
Your timeline generally looks like this:
Every case is different, so your timeline may vary.
After retaining our firm, we will:
The 341 Meeting of Creditors is a short meeting required in every bankruptcy case.
Despite the name, most creditors do not attend.
Instead, you will meet with the bankruptcy trustee assigned to your case.
The trustee’s job is to verify the information contained in your bankruptcy paperwork.
Most meetings last between 5 and 10 minutes.
If additional information is needed, the trustee may continue the meeting to another date.
In most Chapter 7 cases, no.
Most clients never appear before a bankruptcy judge.
Your required appearance is usually only the 341 Meeting.
Many New Jersey bankruptcy trustees currently conduct meetings by Zoom or telephone, although procedures can change. We will let you know the format for your assigned trustee and help you prepare.
Typically, you will need:
We will review everything with you beforehand.
The trustee typically asks simple questions such as:
We will prepare you so you know what to expect.
Many Chapter 7 filers are able to keep their home and vehicle if:
We will review your situation before filing.
You should not intentionally incur debt that you do not intend to repay.
Using credit cards shortly before filing can create problems, especially for:
Certain recent debts may not be dischargeable, and excessive spending can result in objections from creditors.
Always discuss any recent credit card use with your Attorney Chelsea Davis.
Gambling activity does not automatically prevent you from filing bankruptcy, but it can significantly affect your case.
Please tell us if you have:
The trustee may request:
Honesty is extremely important. Failing to disclose gambling activity can create serious problems in your case.
Many gambling-related debts may be dischargeable in Chapter 7, but recent gambling activity, cash advances used for gambling, or evidence of fraud may create issues.
Every case is different, so we will evaluate your specific circumstances before filing.
Bankruptcy filings are public records.
However, most people will never search for your case, and bankruptcy filings are generally not published in local newspapers.
Yes. Once your bankruptcy is filed, the automatic stay generally stops most:
Some exceptions apply, such as certain family law matters and criminal proceedings.
Some debts generally survive bankruptcy, including:
No.
Many people begin rebuilding their credit soon after receiving their discharge.
Responsible financial habits, timely payments on new obligations, and careful credit use can improve your credit over time.
The first step is scheduling a consultation.
During your consultation, we will:
This FAQ provides general information about Chapter 7 bankruptcy in New Jersey and is not legal advice. Every bankruptcy case is unique. You should consult with an attorney regarding your specific circumstances before making any legal decisions.
