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Bankruptcy Timeline

New Jersey Bankruptcy Attorney

If you are contemplating a bankruptcy filing in the state of New Jersey, our firm can provide the guidance and legal counsel you need to safely navigate this legal process. Our New Jersey bankruptcy lawyer has helped hundreds of clients with debt relief and bankruptcy filings.  Our office has an abundance of experience and knowledge in this field. We recommend that you contact our firm to set up a consultation so that you can learn about how bankruptcy works and if it is an option for you. To further help you, we have provided this timeline which shows you how a typical Chapter 7 bankruptcy is completed:

  • 180 days prior to your filing:  You must take a credit counseling course 180 days prior to your filing. Between now and the date of your filing you should not incur new debt of $500 or more for luxury goods or services or $750 in a cash advance within 70 days of filing. If you do, these debts will not be dischargeable.
  • Day of filing: The day you file your petition, the court will issue an automatic stay order which stops any further collection attempts from your creditors. The court will notify all of the creditors listed in your petition and you will be assigned a trustee to oversee your case.
  • You must file financial "schedules" declaring your income, expenses, liabilities and a statement of your financial affairs with the court when you file your petition.  Sometimes an individual does not have all of the information needed to complete the entire petition but due to an urgency such as a foreclosure or wage garnishment must file an incomplete petition or a "bare bones" petition. Within 15 days of filing your petition, you must file all required schedules and documents or your case will be dismissed. 
  • Approximately 6 weeks after filing:  You will attend a meeting of your creditors and be asked to testify under oath as to the truth of your statements in your petition. Your trustee and creditors have 30 days after this meeting to challenge your case.
  • 60 days after your meeting with creditors: You must complete a financial management course in order to receive a discharge in your case. 

Contact the New Jersey Bankruptcy Lawyer at our firm to get started on your bankruptcy case today!

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The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.
We are a federally designated debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.