How Long Does the Bankruptcy Process in Georgia Take?

With the average Chapter 7 bankruptcy taking between 100 and 180 days and the average Chapter 13 bankruptcy taking about 3-5 years, people often wonder why filing for bankruptcy in Georgia is such a lengthy process.

The truth is that there are a lot of time-specific waiting periods and deadlines that must elapse at multiple stages throughout the bankruptcy process. Following is a brief overview of some of the stages in an average claim.

  • First 15 days: Within the first 15 days of filing a bankruptcy claim, the claimant has to provide all significant paperwork and documentation pertaining, as well as all assets and financial holdings. The claimant must also pay any applicable filing fees during this time.
  • 30 days after filing: Claimants must provide all tax documents and financial statements, and indicate their intentions with regard to property secured by debt.
  • 40 days after filing: Debtors must schedule a meeting of creditors at approximately this point in the process.
  • 60 days after the meeting of creditors: This is the deadline by which all creditor complaints or objections must be filed regarding the debtor’s bankruptcy.

Although this is an incomplete listing of all of the scheduled deadlines that come with a bankruptcy claim, they illustrate the manner in which the claim progresses. Each deadline is given a set period in which either the creditor or debtor has to perform a specific action for the claim to move forward. Thus, debtors are often unable to continue until a particular time period has elapsed.

This can be frustrating at times, but it helps to understand that waiting is a major part of the bankruptcy filing process in Georgia. If you have any questions, consult with an experienced bankruptcy lawyer.

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