Thursday, March 1, 2012

How Long Does a Bucks County Bankruptcy Take?

The length of time in a Bucks County bankruptcy is contingent upon whether the debtor is filing for Chapter 7 or Chapter 13.

A Chapter 7, once filed, is usually discharged within four to five months while a Chapter 13 can take anywhere from three to five years.

In a Chapter 13 there is an agreed upon repayment plan of debt whereas in a Chapter 7 debts are liquidated. Always consult with a bankruptcy attorney as deciding which type of bankruptcy to file can be confusing. It can also be extremely complicated if you attempt to file by yourself and you will definitely be entering into uncharted waters.

1 comment:

  1. Bankruptcy provides a fresh start and helps people who took on too much debt, lost a job, went through a divorce, or had uninsured medical bills or other financial problems that have just become too overwhelming, to get back on their feet. Bankruptcy lawyers will be

    able to explain the law, the processes and terms around bankruptcy to you. They will also be able to present you with all the possible options available to you, and help you make the decision that best suits your case.

    Bankruptcy Suffolk County, NY