Posted on: 31st Jul, 2009 05:32 am
What are the key or major events in the bankruptcy process and when will the bankruptcy be over?
hi,
which type of bankruptcy are you referring to? chapter 7 bankruptcy gets over once you get discharge in about 3-4 months. however, it generally takes some time (3-5 years) to get a discharge from chapter 13 bankruptcy. in chapter 13, you pay off your debts under the supervision of the court. this is why it takes time to get discharged. but unlike chapter 7, a chapter 13 bankruptcy can have a positive effect on your credit, given you make payments on time.
which type of bankruptcy are you referring to? chapter 7 bankruptcy gets over once you get discharge in about 3-4 months. however, it generally takes some time (3-5 years) to get a discharge from chapter 13 bankruptcy. in chapter 13, you pay off your debts under the supervision of the court. this is why it takes time to get discharged. but unlike chapter 7, a chapter 13 bankruptcy can have a positive effect on your credit, given you make payments on time.