Question: How Long Does It Take To File Chapter 7 In California??

How Long Does Chapter 7 Bankruptcy Last?

In most cases, it takes approximately three to four months to complete a Chapter 7 bankruptcy and obtain a discharge.

However, if you have a complex case or creditors object to your discharge, it can take longer.

How do I file Chapter 7 on my own?

Here are the general steps you will have to take to file for Chapter 7 bankruptcy yourself:

  • Determine Eligibility.
  • Fill Out the Means Test.
  • Receive Credit Counseling.
  • Fill Out Official Bankruptcy Forms.
  • File a Petition.
  • Attend a Creditors’ Meeting.
  • Attend Personal Financial Management Instruction Course.

What is the income limit for Chapter 7 in California?

However, the maximum income you can earn in California and still be eligible to file for Chapter 7 bankruptcy is $47,433 for a one-person family and $74,122 for a four-person family, as of 2012.

How do I qualify for Chapter 7 in California?

If you would like to file a Chapter 7 bankruptcy you must pass the California means test. The test only applies to higher income filers which means that if your income is below the California median for your household size you are exempt from the test and may file a Chapter 7.

Can I keep my car if I file Chapter 7 in California?

If you’re filing under Chapter 13, you’ll be able to keep your car as long as you keep making your payments. Under Chapter 7, whether you keep your car will depend on your ability to make payments and the value of your vehicle. The choice of exemption system will seriously affect your Chapter 7 bankruptcy.

How soon can you apply for credit after filing Chapter 7?

Since you’ll need to wait for your credit reports to update, here’s when to check: Chapter 7 bankruptcy: 90 days after your bankruptcy filing. Chapter 13 bankruptcy: 90 days after your bankruptcy discharge (which can take three to five years)

Can I keep my car if I file Chapter 7?

Keeping Your Car in Chapter 7 Bankruptcy. In return, you must give up nonexempt property — the bankruptcy trustee sells the property and uses the proceeds to pay your unsecured creditors. Whether you can keep your car in Chapter 7 depends on (1) whether your equity is exempt, and (2) whether you are behind in payments

What is the means test for Chapter 7 in California?

California Means Test. One of the requirements to file for bankruptcy relief under Chapter 7 is an income test. The Chapter 7 Means Test determines if your average monthly income is above or below the median income for a family of your size in California.

What is considered disposable income in Chapter 7?

Disposable income is the amount that remains after subtracting allowed bankruptcy expenses from your monthly gross income. Your disposable income will determine whether you qualify to discharge (wipe out) debt in Chapter 7 or Chapter 13 bankruptcy.

Can I use my credit cards before filing Chapter 7?

You can generally discharge credit card debt in bankruptcy. But if you rack up credit card debt with fraudulent intent, it most likely won’t be discharged in bankruptcy. Charging your card with no intention to pay the debt—especially when you know you’ll be filing for bankruptcy—is almost always considered to be fraud.

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